NEW DELHI: Zydus Lifesciences on Tuesday said it has entered into negotiations to acquire a majority stake in France-based Amplitude Surgical, a medtech firm, for 256.8 million euro (around Rs 2,500 crore). The company is in talks with PAI Partners and Amplitude Surgical’s management, and two minority shareholders, for 85.6% of the firm’s stake at 6.3 euro per share.
The acquisition price represents a 81% premium over the last closing price as on March 10 and premium of 88.2% and 92.2% over the three-month and six-month volume-weighted average price of Amplitude Surgical respectively, says a company statement. The proposed acquisition will serve as a strategic platform for Zydus to advance its global medtech ambitions, leveraging its established expertise in life sciences and wellness for further expansion.
Amplitude Surgical is a European medtech firm in high-quality, lower-limb orthopaedic technologies. Zydus Life plans to initiate a tender offer to acquire the full stake after the acquisition at the same purchase price of 6.3 euro per Amplitude Surgical share. Following the completion of the mandatory tender offer, the company aims to acquire 100% of Amplitude Surgical’s equity shares, and to delist the company. As of June 30, 2024, Amplitude Surgical reported a turnover of 106 million euro (around 1,000 crore).
Sharvil Patel, MD, Zydus Lifesciences, said: “Our legacy in science, health and innovation has enabled a deep understanding of patient journey and their care pathways. We believe this was a natural extension in the field of medical technology.”
