Zydus Lifesciences has entered into exclusive negotiations to acquire an 85.6 percent controlling stake in Amplitude Surgical SA, a French medical technology company specializing in lower-limb orthopedic solutions. The deal, valued at €256.8 million (Rs 2,447 crore), will mark Zydus’ entry into the medtech sector, expanding beyond its traditional pharmaceutical business.
Under the agreement, Zydus will pay €6.25 per share (around Rs 595 per share), representing an 80.6 percent premium over Amplitude’s last closing price. After acquiring the controlling stake, Zydus plans to launch a mandatory cash tender offer for the remaining shares at the same price, which could lead to a full acquisition worth €300 million and Amplitude’s delisting from Euronext Paris.
Zydus Sees Long-Term Growth in Medtech
The acquisition is a key part of Zydus Lifesciences’ long-term strategy to diversify into the medical technology industry, said the firm’s Managing Director, Dr. Sharvil Patel. He mentioned Amplitude Surgical’s robust product portfolio, global reach, and manufacturing capabilities as key drivers of growth.
The deal is awaiting regulatory clearances, including approval by France’s Ministry of Economy, and is expected to close during the first half of 2025.
The firm, which is looking to diversify away from its business in branded generics into other segments including MedTech and consumer health, will leverage the acquisition to gain access to Amplitude’s strong research and development strength and market presence to establish a presence in the global medical technology market.
Amplitude Surgical, which was founded in 1997, posted FY24 sales of €106 million and is active in Europe, Brazil, Australia, and South Africa. Hip and knee prostheses are the specialty products of the company, and it markets advanced surgical implants that have found global popularity.
Amplitude grew significantly in recent years with the help of private equity firm PAI Partners. The company invested in global expansion, manufacturing, and new product development, growing its presence in the orthopedic market.
The business expansion into medical technology by Zydus through an acquisition will enhance its global presence and open new sources of growth in specialty healthcare solutions.
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Source: Moneycontrol.
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