Zimmer Biomet to acquire Monogram Technologies for $177 million, boosting its robotics portfolio. Monogram’s surgical products, including semi- and fully autonomous options, will expand Zimmer’s offerings. Medical device makers like Medtronic and Johnson & Johnson are investing in robotic surgery. The global robotic surgery market is projected to reach nearly $16 billion by 2030.

Monogram’s stock price doubled to $6.70 in premarket trading. Zimmer will pay $4.04 per share upfront to Monogram stockholders, with potential additional payments based on milestones. The deal will be funded through a mix of cash and debt financing. Zimmer plans to integrate Monogram’s technology and launch new applications by 2027.

The acquisition is expected to finalize later this year. Zimmer anticipates the deal to have a neutral impact on earnings per share until 2027, with earnings growth from 2028 onwards. The move aligns with the company’s strategy to expand its robotics platform and access Monogram’s innovative knee replacement technology.

Read more at Yahoo Finance: Zimmer to acquire Monogram Technologies for $177 million, boosting robotics portfolio