Zimmer to acquire Monogram Technologies for $177 million, boosting robotics portfolio

Zimmer Biomet ZBH it will acquire robotics firm Monogram Technologies MGRM for about $177 million, adding Monogram’s semi- and fully autonomous surgical products to its expanding robotics portfolio, the companies said on Monday

Shares of Monogram more than doubled to $6.70 in premarket trading. WHY IT'S IMPORTANT

Medical device makers, including larger peers Medtronic MDT and Johnson & Johnson JNJ are seeking to strengthen their robotic surgery offerings.

The global market for robotic surgery devices is expected to be worth nearly $16 billion by the end of this decade, according to data analytics firm GlobalData.

The deal will allow Warsaw, Indiana-based Zimmer to broaden its robotics platform and gain access to Monogram's semi-autonomous knee replacement technology, which was approved by the U.S. Food and Drug Administration in March 2025. Zimmer expects to integrate Monogram’s technology and launch fully autonomous surgical robots and additional applications beyond prosthetic knee replacement by 2027.

BY THE NUMBERS

Monogram stockholders will receive $4.04 per share in cash upfront, which represents a premium of 22.8% to its last close. The terms also include up to $12.37 per share in contingent value rights, dependent on certain milestones being met by 2030.

Zimmer Biomet plans to fund the deal with a combination of cash and available debt financing.

WHAT'S NEXT

The deal is expected to close later this year. Zimmer expects the deal to be neutral to adjusted earnings per share until 2027, and accretive to earnings from 2028 onward.