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Business

Vandana Singh

Zimmer Biomet To Lead Orthopedic Robotics With Monogram's AI Tech

Zimmer BioMet Monogram ZBH FDA

Business,Handshake,For,Teamwork,Of,Business,Merger,And,Acquisition,successful,Negotiate,hand

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) on Monday agreed to acquire Monogram Technologies Inc. (NASDAQ:MGRM) for an upfront payment of $4.04 per share, corresponding to an equity value of approximately $177 million and an enterprise value of approximately $168 million.

Monogram common stockholders will also receive a non-tradeable contingent value right (CVR) entitling the holder to receive up to $12.37 per share of common stock in cash if certain product development, regulatory, and revenue milestones are achieved through 2030.

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