Zimmer Biomet Holdings Inc., a global medical technology firm based in Warsaw, Indiana, has signed an agreement to acquire Salt Lake City-based OrthoGrid Systems Inc., a privately held medical technology company focused on artificial intelligence-driven surgical guidance systems for total hip replacement. The acquisition includes OrthoGrid’s AI-powered, fluoroscopy-based surgical assistance platform Hip AI, as well as two additional FDA-cleared orthopedic applications and over 40 patents.
“OrthoGrid’s AI systems address the rapidly growing market demand for fluoroscopy-based surgical guidance solutions while strengthening our portfolio of hip offerings that drive intraoperative efficiencies and improve the quality of life for patients,” said Jim Lancaster, president and global headquarters executive director at Zimmer Biomet. “We pride ourselves on being customer-centric and Hip AI exemplifies our commitment to offer solutions that meet the specific needs of each surgeon.”
“The agreement with Zimmer Biomet, a global leader in orthopedics, will significantly accelerate our shared goal of addressing challenging orthopedic problems with innovative technology solutions,” said Edouard Saget, co-founder and co-CEO of OrthoGrid.
The transaction is subject to customary closing conditions and is expected to be completed by the end of the fourth quarter of 2024.