Zimmer Biomet Acquires Monogram Technologies in $177M Deal, Expanding Orthopedic Robotics Portfolio

Zimmer Biomet, a leading orthopedics company, has announced plans to acquire Monogram Technologies for approximately $177 million, signaling a significant expansion of its surgical robotics capabilities. The deal, expected to close by the end of 2025, aims to integrate Monogram's innovative mBôs robotic system into Zimmer Biomet's existing Rosa robotics platform, potentially revolutionizing total knee replacement procedures.

Acquisition Details and Financial Terms

The acquisition involves Zimmer Biomet purchasing all outstanding shares of Monogram stock for an upfront cash payment of $4.04 per share. Additionally, Monogram shareholders may receive up to $12.37 per share tied to regulatory and commercial milestones through 2030. The transaction's enterprise value totals $168 million, accounting for debt and cash-on-hand.

Ivan Tornos, President and CEO of Zimmer Biomet, emphasized the strategic importance of the acquisition, stating, "Monogram's technology is a major leap forward, demonstrating our commitment to becoming the boldest and broadest innovator in surgical robotics and navigation."

Technological Advancements in Orthopedic Robotics

Monogram's mBôs system, which received FDA clearance in March 2025 for total knee arthroplasty, represents a significant advancement in orthopedic surgical technology. The AI-powered robotic arm utilizes CT scans for preoperative planning and establishes instrument boundaries to protect soft tissue during procedures.

Key features of the mBôs system include:

1. Semi-autonomous operation for total knee replacements
2. Integration with 3D-printed, press-fit mPress implants
3. Potential for expansion into multiple orthopedic indications

Zimmer Biomet plans to launch the mBôs system with its own line of implants in early 2027, offering surgeons a comprehensive and flexible technology ecosystem. The company is also exploring the development of a fully autonomous version of the robot, which would operate cutting tools via foot pedal control.

Impact on the Orthopedic Surgery Landscape

The acquisition of Monogram Technologies is expected to significantly impact the orthopedic surgery market, particularly in the realm of robotic-assisted procedures. By combining Monogram's CT-based imaging and predictive navigation capabilities with Zimmer Biomet's existing Rosa platform, which offers imageless surgeries or 2D X-ray guidance, the company aims to provide a wider range of options for surgeons.

Benjamin Sexson, CEO of Monogram, expressed enthusiasm about the merger, stating, "We are thrilled by the opportunity to add our technology to Zimmer Biomet's leading portfolio of surgical robotics, navigation solutions, and trusted implants and to benefit from their deep industry expertise and global scale."

The integration of Monogram's technology is anticipated to drive robotic knee adoption in the United States and potentially redefine the standard of care in orthopedic surgery. Zimmer Biomet expects the acquisition to contribute to revenue growth starting in 2027 and become accretive to earnings in 2028.