Global medical technology company Zimmer Biomet has announced its definitive agreement to acquire OrthoGrid Systems, a company focused on AI-driven surgical guidance systems for hip replacement surgery.
Financial details of the deal have not been disclosed.
This deal is expected to bolster Zimmer Biomet's portfolio with OrthoGrid's AI-powered, fluoroscopy-based surgical assistance platform Hip AI, as well as two additional FDA-cleared orthopaedic applications and more than 40 patents.
OrthoGrid Systems' technology offers an alternative to CT-based imaging, which can cause delays in operating room (OR) workflows due to CT exam backlogs.
Fluoroscopy-based surgical guidance utilises real-time X-ray imaging, offering improved surgical accuracy without the need for preoperative preparation.
Zimmer Biomet global headquarters executive director and Recon president Jim Lancaster said: "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.”
OrthoGrid's flagship product, Hip AI, is designed for real-time image analysis, providing surgeons with automated measurements and guidance for optimal implant placement, all within a compact OR footprint.
Furthermore. Hip AI is adaptable to individual surgical techniques and workflows.
OrthoGrid co-founder and co-chief executive officer Edouard Saget said: "The agreement with Zimmer Biomet, a global leader in orthopaedics, will significantly accelerate our shared goal of addressing challenging orthopaedic problems with innovative technology solutions."
OrthoGrid co-founder and co-chief executive officer Richard Boddington said: "While early, the launch of our AI-driven intraoperative surgical guidance platform has received positive feedback from hip surgeons across the US and we are excited to expand our reach through this acquisition."
The transaction, subject to customary closing conditions, is expected to be finalised by the end of the fourth quarter of 2024.
In June, Zimmer Biomet signed a limited distribution agreement with THINK Surgical for its wireless, handheld TMINI miniature robotic system, for total knee arthroplasty.
