Zydus Lifesciences Limited on Tuesday announced that the company has entered into exclusive negotiations to acquire majority Amplitude Surgical. Purchase consideration amounts to €256.8mn for 85.6 percent of the outstanding shares and voting rights of Amplitude Surgical, it stated.
According to a company statement, the acquisition price represents a 80.6 percent premium over the last closing price as on 10/03/2025 and premia of 88.2 percent and 92.2% over the 3-month and 6-month volume-weighted average price of Amplitude Surgical respectively.
“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. Supported by PAI Partners, through its Mid-Market Fund, Amplitude Surgical has experienced significant growth over the last four years, driven by new product development, international growth, investments in manufacturing capabilities and R&D,” the company said in a statement.
In fiscal year ended June 30, 2024, Amplitude Surgical generated sales of €106.0mn and EBITDA of €27.1mn on a consolidated basis under IFRS. For the 6 months ended December 31, 2024, Amplitude Surgical’s consolidated sales amounted to €51.5mn (a growth of 5% Y-o-Y at current exchange rates) with an EBITDA margin of approximately 25.4 percent.
“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. 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. In Amplitude Surgical, we see several medium-term and long-term growth opportunities with respect to portfolio, capabilities, manufacturing and geographies,” Dr. Sharvil Patel, Managing Director, Zydus Lifesciences Limited, said.
Medical Technology includes medical devices and related scientific infrastructure that directly contribute to the development of these products and solutions. The medical device market alone is estimated at over half a trillion dollars globally. This market is broadly divided into segments such as implants, equipment, consumables and in-vitro diagnostics. The government has recognised the medical device sector as a sunrise sector with strong growth potential, it stated.
Zydus MedTech is focusing on high quality products and solutions for patients with cutting-edge research and innovation around design and engineering, the company claimed. The focus will also be on state-of-the-art manufacturing capabilities that will enable high quality solutions supported by a specialist team. The business currently markets interventional cardiology products, it added.
“The Amplitude Surgical team and I are delighted to join Zydus. This acquisition by a worldwide healthcare leader is a testament to the successful development of the Company over the last 25+ years, originally as a national orthopedics challenger and today as a European leader. I would like to thank PAI Partners for their trust and continuous support in our growth journey. We have demonstrated our resilience in periods of uncertainty while driving the transformation of the Company, developing our commercial, industrial, and technological capabilities,” Olivier Jallabert, CEO and Founder, Amplitude Surgical, said.
On March 11, 2025, Amplitude Surgical and Zydus entered into a tender offer agreement under which Zydus undertook to file the tender offer (subject to completion of the Block Acquisition), and Amplitude Surgical undertook to cooperate with Zydus in this respect, the company stated.
Olivier Jallabert, Founder and CEO of the Company, would remain involved in Amplitude Surgical moving forward. BNP Paribas is acting as exclusive financial advisor and Darrois Villey Maillot Brochier is acting as legal advisor to Zydus. Rothschild and Cie is acting as exclusive financial advisor and Willkie Farr & Gallagher is acting as legal advisor to PAI Partners. Finexsi has been appointed independent expert by the Board of Directors of Amplitude Surgical, it added.