Zimmer Biomet to Acquire Monogram Technologies in $177 Million Deal

Zimmer Biomet to Acquire Monogram Technologies

Announcement

Zimmer Biomet Holdings, Inc. a popular medical technology and Monogram Technologies, a known orthopedic robotics company, have signed an agreement to acquire outstanding shares of stock of monogram to receive an upfront payment of $4.04 per share in cash with the equity value of around $177 million and an firm value of $168 million. The monogram’s common stockholders will be eligible for non-tradeable contingent value right (CVR), also the holder of $12.37 per share of common stock in cash under the circumstances of revenue profit, regulatory, and product development achievement through 2030. The board of directors of the respective companies confirmed and approved the proposed transaction.

The Qualifying Transaction

The proposed transaction has additionally extended Zimmer Biomet’s expanded suite of orthopedic robotics, providing analytics and solutions to identify the requirements of the surgeons, intra, pre, and post operations. The Zimmer biomets vast portfolio focuses on imageless robotics via its ROSA platform. The platform includes an official CT-powered handheld robot, holistic reality mapping, pathways, and AI-powered surgical navigation that encourage advancement to semi and fully autonomous robotics. Zimmer is ranked and popular for the solutions of the diversified preferences of a number of surgeons worldwide. Additionally, it also identifies various styles of surgical techniques or methods like non-CT and CT, non-robotic or robotic, and automated technologies, or surgeon-centered methods/manual.

The Zimmer’s ROSA platform and monogram’s AI-navigated total knee arthroplasty (TKA) robotic technology is the key advancement and development of the respective companies. The transaction thus qualifies the agreement. The monogram’s advanced autonomous robotics technologies will explore and add new capabilities that will lead to Zimmer’s ROSA robotics platform to expand its suite of navigation. The agreement regarding the proposed transaction will help Zimmer to become the first company in orthopedics that provide a fully autonomous surgical robot. The technology is a beneficial approach to every market; the presence and build of this company will accelerate the healthcare market and will encourage technology in the healthcare sector.

Views and Statements

Chairman, president, and chief executive officer of Zimmer Biomet, Ivan Tornos, said, “Monogram’s technology is a proven and most committed company popularly known for its innovation in surgical navigation and robotics. On closing onto customer customer-centric portfolio, now we will include a flexible technology ecosystem meeting every surgeon's preference. With the technological advancement, the company predicts the potential to be the first ever company to provide fully autonomous options, which will redesign orthopedic surgery.”