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WARSAW/AUSTIN - Zimmer Biomet Holdings, Inc. (NYSE and SIX:ZBH) announced today it has entered into a definitive agreement to acquire orthopedic robotics company Monogram Technologies Inc. (NASDAQ:MGRM) for $4.04 per share in cash, representing an equity value of approximately $177 million. The offer represents a significant premium to Monogram’s current market capitalization of $117 million, with the stock having gained over 45% in the past year.
The deal includes a non-tradeable contingent value right that could provide Monogram stockholders up to an additional $12.37 per share if certain product development, regulatory and revenue milestones are achieved through 2030. According to InvestingPro data, Monogram maintains a strong balance sheet with more cash than debt and a healthy current ratio of 7.0, though the company remains unprofitable. InvestingPro offers 11 additional investment tips for MGRM.
Monogram’s semi- and fully autonomous robotic technologies are expected to expand Zimmer Biomet’s ROSA Robotics platform. Monogram received FDA 510(k) clearance in March 2025 for its CT-based, semi-autonomous, AI-navigated total knee arthroplasty robotic technology, which is expected to be commercialized with Zimmer Biomet implants in early 2027.
"Monogram’s technology is a major leap forward, demonstrating our commitment to becoming the boldest and broadest innovator in surgical robotics and navigation," said Ivan Tornos, Chairman, President and CEO of Zimmer Biomet.
The acquisition is expected to be neutral to Zimmer Biomet’s adjusted earnings per share from 2025 through 2027 and accretive thereafter. The company anticipates the transaction will contribute to revenue growth beginning in 2027.
Zimmer Biomet plans to fund the acquisition through a combination of cash on hand and available debt financing. The transaction, which has been unanimously approved by the boards of both companies, is subject to regulatory approvals, Monogram stockholder approval, and other customary closing conditions.
The companies expect the deal to close later this year, according to the press release statement. For investors seeking deeper insights into similar opportunities, InvestingPro provides comprehensive analysis and Fair Value estimates for over 1,400 US stocks, including detailed research reports that transform complex financial data into actionable intelligence.
In other recent news, Monogram Technologies has reported its first-quarter financial results for 2025, highlighting an earnings per share forecast of -0.11. The company maintains a strong cash position of $13.3 million with no traditional debt, which reflects its improved operational efficiency. Monogram Orthopaedics has also received FDA clearance for its Emboss total TKA robotic surgical system and plans to initiate the first live patient surgeries by late summer or early fall of 2025. Additionally, the company announced the mandatory conversion of its 8.00% Series D Convertible Cumulative Preferred Stock, effective July 14, 2025. Monogram Technologies continues to make strategic advancements in the orthopedic robotics sector, with plans for a commercial launch of its upgraded system version. Analysts from firms like Roth Capital have inquired about Monogram’s differentiators compared to competitors, particularly Stryker’s Mako system. The company is actively exploring additional capital opportunities to accelerate its growth and expand its market presence overseas before focusing on U.S. expansion.
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