Latest news with #ZimmerBiomet
Yahoo
10 hours ago
- Business
- Yahoo
Zimmer Biomet to acquire Monogram for $177m
Zimmer Biomet has signed a definitive agreement to acquire orthopaedic robotics company Monogram Technologies for an upfront cash payment of $4.04 per share, reflecting an equity value of around $177m and nearly $168m enterprise value. Common stockholders of Monogram are entitled to a non-tradeable contingent value right (CVR) that could yield up to $12.37 per share in cash, contingent upon meeting specific product development, regulatory, and revenue milestones by 2030. Both companies' boards of directors have granted unanimous approval for the proposed transaction. The acquisition is expected to bolster Zimmer Biomet's ROSA robotics platform with Monogram's semi-autonomous and fully autonomous robotic technologies. Monogram's 510(k)-cleared semi-autonomous knee arthroplasty robotic technology is set to be commercialised with Zimmer implants in early 2027. The closure of the transaction is said to pave the way for Zimmer Biomet to potentially become the first to provide a completely autonomous surgical robot. With the ROSA platform nearing 2,000 installations worldwide, Zimmer Biomet is investing in new products and software applications. These include ROSA Knee with OptimiZe and ROSA Posterior Hip, which is expected to launch by 2027. The proposed transaction will be funded through Zimmer Biomet's cash reserves and debt financing sources. The acquisition is subject to regulatory approvals and other customary closing conditions, as well as approval by Monogram stockholders. The merger is expected to close later this year. Morgan Stanley & Co is acting as the exclusive financial adviser to Zimmer Biomet, with Hogan Lovells US providing legal advice. Wells Fargo Securities and Duane Morris are serving as financial and legal advisers, respectively, to Monogram. Zimmer Biomet president, chairman and CEO Ivan Tornos said: "Upon closing, our customer-centric portfolio will consist of the most comprehensive and flexible technology ecosystem to support the varying preferences of a vast array of surgeons – now and into the future. 'With Monogram's proprietary technology, Zimmer Biomet has the potential to become the first company to deliver fully autonomous capabilities and redefine both the standard of care and the future of orthopaedic surgery." In April, Zimmer Biomet completed the acquisition of Paragon 28 for an enterprise value of approximately $1.2bn. "Zimmer Biomet to acquire Monogram for $177m" was originally created and published by Medical Device Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNA
a day ago
- Business
- CNA
Zimmer to acquire Monogram Technologies for $177 million, boosting robotics portfolio
Zimmer Biomet it will acquire robotics firm Monogram Technologies 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 and Johnson & Johnson 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 per cent 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.
Reuters
a day ago
- Business
- Reuters
Zimmer to acquire Monogram Technologies for $177 million, boosting robotics portfolio
July 14 (Reuters) - Zimmer Biomet (ZBH.N), opens new tab it will acquire robotics firm Monogram Technologies (MGRM.O), opens new tab 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.N), opens new tab and Johnson & Johnson (JNJ.N), opens new tab 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. 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. 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.
Yahoo
a day ago
- Business
- Yahoo
Zimmer to acquire Monogram Technologies for $177 million, boosting robotics portfolio
(Reuters) -Zimmer Biomet it will acquire robotics firm Monogram Technologies 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 and Johnson & Johnson 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.
Yahoo
a day ago
- Business
- Yahoo
Zimmer to acquire Monogram Technologies for $177 million, boosting robotics portfolio
(Reuters) -Zimmer Biomet it will acquire robotics firm Monogram Technologies 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 and Johnson & Johnson 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. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
