Zimmer Biomet plans to acquire AI surgical guidance company OrthoGrid Systems to expand its market share in hip replacement procedures.
The acquisition includes OrthoGrid’s AI-powered, fluoroscopy-based surgical assistance platform Hip AI as well as two additional FDA-cleared orthopedic applications and more than 40 patents, the company announced this week.
The transaction is expected to be completed by the end of the fourth quarter of 2024. Financial details were not disclosed.
The orthopedics-focused medical technology company said the proposed acquisition will expand its hip portfolio with AI-driven surgical guidance system.
“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, recon and global headquarters executive director at Zimmer Biomet, in a statement.
OrthoGrid’s Hip AI system provides real-time image analysis, automated measurements of leg length and offset, and guidance on optimal cup placement while maintaining a small OR footprint. In addition, surgeons can tailor Hip AI to align with their specific technique and workflow, according to the company.
Surgical guidance systems often rely on CT-based imaging, which can result in a backlog of CT exams and that can impact OR workflow and efficiency. Fluoroscopy-based surgical guidance is a technique that uses real-time X-ray imaging to help guide procedures and improve surgical accuracy and safety, according to the companies.
Unlike CT scans, fluoroscopy-based systems do not require preoperative preparation, allow real-time navigation with up-to-date images, and provide convenient bedside access to motion imaging.
The acquisition adds to Zimmer Biomet’s existing portfolio of tools for hip surgeries, including its ROSA Hip robotic system that enables surgeons to evaluate and execute a surgical plan based on real-time feedback and the patient’s unique anatomy.
“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, in a statement.
In February, Zimmer Biomet snagged FDA clearance for its latest ROSA system geared toward shoulder replacements. The green light marks the fourth in Zimmer’s family of ROSA robotic helpers in the past five years, following go-aheads in total knee and hip replacement procedures. The system also claims the title of being “first-to-market” for assisted shoulder arthroplasty, according to the company.
This week, the company reported second-quarter financial results with net sales of $1.9 billion, up 4% from the same period a year ago.