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Gus Iversen, Editor in Chief | July 15, 2025
Zimmer Biomet has entered into a definitive agreement to acquire Monogram Technologies in a cash transaction valued at approximately $177 million, the companies announced Monday.
The acquisition adds new robotic capabilities to Zimmer Biomet’s expanding orthopedic technology portfolio.
Under the terms of the agreement, the Warsaw, Indiana-based company will pay $4.04 per share in cash. Monogram shareholders will also receive a contingent value right (CVR) of up to $12.37 per share, tied to future regulatory and revenue milestones through 2030. The deal has been approved by the boards of both companies and is expected to close later this year, pending regulatory and shareholder approvals.
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Monogram, based in Austin, Texas, has developed a semi-autonomous, AI-navigated robotic system for total knee arthroplasty, which received FDA 510(k) clearance in March. Zimmer Biomet expects to begin commercializing the technology with its implants in early 2027. A fully autonomous version is also in development.
Zimmer Biomet said the addition of Monogram's technology will broaden the capabilities of its ROSA robotics platform and potentially position it as the first company to offer a fully autonomous orthopedic surgical robot.
"This proposed acquisition supports our vision to build the most comprehensive and flexible technology ecosystem to meet the diverse needs of orthopedic surgeons," said Ivan Tornos, chairman, president and CEO of Zimmer Biomet. "Monogram's technology strengthens our ability to deliver differentiated solutions in a rapidly evolving surgical robotics landscape."
Zimmer Biomet expects the deal to be neutral to adjusted earnings per share through 2027 and accretive thereafter. Revenue contributions from the acquisition are projected to begin in 2027.
Monogram CEO Benjamin Sexson said, "We are thrilled by the opportunity to add our technology to Zimmer Biomet’s leading portfolio of surgical robotics, navigation solutions and trusted implants."
Zimmer Biomet plans to finance the acquisition using a combination of cash and available debt facilities. Morgan Stanley is advising Zimmer Biomet, while Wells Fargo Securities is advising Monogram.
