Medical technology giant Zimmer Biomet Holdings has announced a definitive agreement to acquire orthopaedic robotics firm Monogram Technologies in a deal valued at approximately US$177m.
The acquisition is set to bolster Zimmer Biomet’s growing portfolio of surgical robotics.
Under the terms of the agreement, Zimmer Biomet will acquire all outstanding shares of Monogram at us$4.04 per share in cash, representing an enterprise value of approximately US$168m.
In addition to the upfront payment, Monogram shareholders will receive a non-tradeable contingent value right (CVR), which could pay up to $12.37 per share in cash if certain developmental, regulatory, and revenue milestones are met by 2030.
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The boards of directors of both companies have unanimously approved the transaction, which remains subject to regulatory approvals, shareholder consent, and customary closing conditions. The merger is expected to be completed later in 2025.
Monogram’s technology includes a semi-autonomous, AI-navigated robotic system for total knee arthroplasty (TKA), which received US FDA 510(k) clearance in March 2025.
The system is anticipated to be launched using Zimmer Biomet implants in early 2027. The company is also developing a fully autonomous version of the technology, which aims to enhance surgical safety, efficiency, and outcomes.
Zimmer Biomet intends to integrate Monogram’s innovations into its flagship ROSA® Robotics platform. ROSA, a cornerstone of the company’s robotics strategy, currently supports a broad range of surgical navigation and enabling technologies and is approaching 2,000 installations globally.
The acquisition aligns with Zimmer Biomet’s strategy to expand its capabilities across the surgical continuum,pre-operative planning, intra-operative guidance, and post-operative care. The company plans to fund the transaction through a combination of existing cash reserves and available debt financing, while maintaining a strong balance sheet.
Zimmer Biomet expects the acquisition to be neutral to adjusted earnings per share from 2025 through 2027 and accretive from 2028 onwards. The transaction is projected to deliver a high single-digit return on invested capital by year five.
The company views the deal as a significant step forward in its ambition to become the first in orthopaedics to offer a fully autonomous surgical robot, enhancing its competitive position in one of the industry’s fastest-growing segments.
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