M&A · Healthcare · Surgical & Medical Instruments & Apparatus
Zimmer Biomet Holdings, Inc. to acquire Monogram Technologies Inc.
Announced Jul 14, 2025 · Closed Oct 7, 2025
Deal value$177MEV $164M
Premium22.0%To unaffected price
EV / Adj. EBITDA—
ConsiderationAll cash$4.04 per share
Transaction
- Acquirer
- Zimmer Biomet Holdings, Inc. (ZBH)
- Target
- Monogram Technologies Inc. (MGRM)
- Buyer type
- Strategic
- Offer price per share
- $4.04
- Enterprise value
- $164M
- Status
- Closed Oct 7, 2025
Deal protections
- Break fee (target pays)
- $11.0M · 6.2%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Morgan Stanley
- To the target
- Wells Fargo
- Wells Fargo fee
- $8.7M
Sector context · Healthcare
- Comparable deals
- 94 in the prior 24 months
- Premium
- 22.0% vs. 67.0% sector median
- EV / Adj. EBITDA
- Sector median 13.8x
- Break fee
- 6.2% vs. 3.4% sector median
Timeline
- AnnouncedJul 14, 2025
- Proxy filedAug 11, 2025
- Definitive proxyAug 28, 2025
- Shareholder voteSep 30, 2025
- ClosedOct 7, 2025
Valuation · fairness opinions
Discounted cash flow$1.38$2.90
Offer $4.04
Implied value per Monogram Technologies Inc. share by analysis, from Wells Fargo.