Zimmer Biomet Holdings Inc., a medical technology company in Warsaw, Indiana, has signed an agreement to acquire Salt Lake City-based OrthoGrid Systems Inc. OrthoGrid is 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, founded in 2012, provides intraoperative alignment navigation via procedure-specific musculoskeletal applications for hip replacement, hip preservation and trauma. Its AI-enabled surgical guidance technology imports images from C-arm image intensifiers to reveal and correct fluoroscopic distortion and helps surgeons achieve desirable and reproducible surgical outcomes. In addition to its Utah headquarters, OrthoGrid has research facilities in Strasbourg, France.
“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.
“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 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.”
“While early, the launch of our AI-driven intraoperative surgical guidance platform has received positive feedback from hip surgeons across the U.S. and we are excited to expand our reach through this acquisition,” said Richard Boddington, co-founder and co-CEO of OrthoGrid.
The transaction is expected to be completed by the end of the fourth quarter of 2024. Financial terms were not disclosed.