Zimmer Biomet has completed its $177 million acquisition of Monogram Technologies, an orthopedic robotics company.
The acquisition expands Zimmer’s suite of orthopedic robotics by adding Monogram’s semi-autonomous robotic technologies, according to an Oct. 7 news release from Zimmer Biomet.
Monogram Technologies developed a CT-based, semi-autonomous and AI-navigated total knee arthroplasty robot, which earned FDA clearance in March. The technology is expected to be commercialized with Zimmer Biomet implants by 2027.
In addition, Monogram began a clinical study for a fully autonomous version of the robotic technology in July.
Zimmer Biomet entered into a definitive agreement to acquire Monogram in July. Under the agreement, Zimmer paid $4.04 per share in cash to acquire all outstanding shares of Monogram’s stock.
With the acquisition completed, Monogram will be delisted from the NASDAQ, the release said.
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