07:57 AM EDT, 07/14/2025 (MT Newswires) -- Zimmer Biomet Holdings ( ZBH ) signed a definitive agreement to acquire Monogram Technologies ( MGRM ) for a cash payment of $4.04 per common share, for a total equity value of about $177 million, the companies said Monday.

Monogram shareholders will also receive a non-tradeable contingent value right that entitles the holder to receive up to $12.37 in cash per common share based on the achievement of certain milestones through 2030, according to the statement.

Zimmer Biomet ( ZBH ) expects the acquisition to contribute to its revenue growth from 2027.

The companies said their boards have approved the transaction and expect to close the merger later this year.