Zimmer Biomet Holdings, Inc., a global leader in medical technology, has entered into a definitive agreement to acquire Monogram Technologies Inc., an orthopaedic robotics innovator, for approximately USD 177 million in equity value. Under the agreement, Zimmer Biomet will purchase all outstanding Monogram shares for USD 4.04 per share in cash, alongside a non-tradeable contingent value right (CVR) of up to USD 12.37 per share, linked to future regulatory and revenue milestones through 2030.

The acquisition is set to expand Zimmer Biomet’s ROSA Robotics platform with Monogram’s advanced AI-powered, CT-based semi-autonomous total knee arthroplasty (TKA) system—cleared by the FDA in March 2025. A fully autonomous version is also in development, with the potential to revolutionise surgical precision, safety, and outcomes. The integration positions Zimmer Biomet to become the first company to offer a fully autonomous orthopaedic surgical robot.

CEO Ivan Tornos described the deal as a “major leap forward” that will strengthen Zimmer Biomet’s robotics ecosystem to support diverse surgical preferences—from manual to fully autonomous approaches. The ROSA platform, with nearly 2,000 installations worldwide, remains central to this expansion, with new applications for knee, hip, and shoulder expected through 2027.

The transaction is expected to be revenue-accretive from 2027 and earnings-accretive by 2028, with Zimmer Biomet projecting a high single-digit return on invested capital within five years. The acquisition will be funded through a mix of cash and debt and is subject to shareholder and regulatory approvals.

The merger underscores Zimmer Biomet’s strategic focus on robotic innovation, aiming to redefine the future of orthopaedic surgery through AI, machine vision, and next-gen automation