Zydus to buy majority stake in Amplitude for 256.8 mn Euros

New Delhi: Zydus Lifesciences on Tuesday said it has entered into exclusive negotiations to acquire a majority stake in France-based Amplitude Surgical for 256.8 million euros.

The company has entered into negotiations with PAI Partners, Amplitude Surgical's management, as well as two minority shareholders to acquire 85.6 per cent of the company's share capital, the Ahmedabad-based drug maker said in a regulatory filing.

Purchase consideration amounts to 256.8 million Euros for 85.6 per cent of the outstanding shares and voting rights of Amplitude Surgical, it added. Amplitude Surgical is a European MedTech leader in high-quality, lower-limb orthopaedic technologies. The company provides numerous value-added innovations to best meet the needs of patients, surgeons and healthcare facilities. This includes the design and development of knee and hip prostheses, which are implanted in place of damaged or worn-out joints. In fiscal year ended June 30, 2024, Amplitude Surgical generated sales of 106.0 million euros and EBITDA of 27.1 million euros on a consolidated basis. "We believe this was a natural extension in the field of medical technology. Our commitment to quality excellence, continuous investments in R&D and expertise in manufacturing will guide our foray into highly specialised MedTech products, adding a new dimension to our operations," Zydus Lifesciences MD Sharvil Patel said. In Amplitude Surgical, the company sees several medium-term and long-term growth opportunities with respect to portfolio, capabilities, manufacturing and geographies, he added. Olivier Jallabert, CEO and Founder, Amplitude Surgical, said the acquisition by a worldwide healthcare leader is a testament to the successful development of the company.