Zimmer Biomet, a medical technology company, and Monogram Technologies, an orthopedic robotics company, has entered into a definitive agreement for Zimmer Biomet to acquire all outstanding shares of stock of Monogram for an upfront payment of $4.04 per share in cash, 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.
The respective boards of directors of Zimmer Biomet and Monogram have unanimously approved the proposed transaction. [Read more…] about Zimmer Biomet acquires robotic surgery company Monogram Technologies for $177 million