Zimmer Biomet acquires Monogram Technologies: A new era in orthopedic robotics

Zimmer Biomet Holdings Inc., a global medical technology leader, has completed the acquisition of Monogram Technologies Inc., an AI-driven, next-generation orthopedic robotics company.

Monogram's surgeon-guided semi- and fully autonomous robotic technologies are expected to add new and differentiated capabilities to Zimmer Biomet's already broad suite of customer-centric technology solutions.

"By bringing Monogram into the Zimmer Biomet innovation ecosystem, we have set a bold course to become the first orthopedic company to offer a fully autonomous robotic solution complementing our current robotic and navigation offerings," says Ivan Tornos, chairman, president and chief executive officer of Zimmer Biomet. "We aim to provide surgeons the broadest choice in robotics and navigation across a wide range of procedures and care settings. I want to personally welcome the Monogram team to Zimmer Biomet, as their talent and technology will accelerate our innovation pipeline, deepen our value to surgeons and strengthen our long-term growth strategy."

Monogram has developed a CT-based, semi-autonomous, AI-navigated total knee arthroplasty (TKA) robotic technology, which received FDA 510(k) clearance in March 2025 and is expected to be commercialized with Zimmer Biomet implants by early 2027. Additionally, Monogram began conducting a clinical study in July 2025 for the fully autonomous version of its technology.

This acquisition expands Zimmer Biomet's extensive suite of orthopedic robotics, enabling solutions and analytics to address the needs of surgeons pre-, intra- and post-operatively. Zimmer Biomet's broad portfolio features imageless robotics through its ROSA Robotics platform; a licensed CT-based handheld robot; mixed reality and AI-based navigation; and now Monogram's semi- and fully autonomous robotics capabilities.

The ROSA platform, which is the cornerstone of Zimmer Biomet's robotics offering, is rapidly approaching 2,000 installations worldwide and is a leader outside of the United States. Zimmer Biomet is committed to continuing to advance the ROSA platform and is investing in a robust R&D pipeline featuring several new products and software applications expected between now and 2027. This includes ROSA Knee with OptimiZe, which has been submitted to the FDA with 510(k) clearance anticipated later this year, and other applications.

Transaction Details

The acquisition was completed pursuant to the Agreement and Plan of Merger by and among Zimmer Biomet, Honey Badger Merger Sub Inc. and Monogram, dated as of July 11, 2025, as amended by that certain First Amendment to Agreement and Plan of Merger, dated August 27, 2025.

At the effective time of the acquisition, each outstanding share of common stock of Monogram was automatically converted into the right to receive (i) $4.04 in cash and (ii) non-tradeable contingent value rights (CVRs) entitling the holder to receive up to $12.37 in cash if certain product development, regulatory and revenue milestones are achieved through 2030.

With the acquisition complete, Monogram shares ceased trading on the National Association of Securities Dealers Automated Quotations (NASDAQ) prior to the opening of the market on October 7, 2025, and will be delisted.