Zydus Acquires Majority Stake in Amplitude Surgical for €256.8 Mn

Zydus Lifesciences has announced the acquisition of an 85.6% stake in France-based Amplitude Surgical SA for €256.8 million. The deal will be followed by a mandatory cash tender offer for the remaining shares at the same purchase price of €6.25 per share. If completed, the full acquisition would be valued at €300 million, leading to Amplitude’s delisting from Euronext Paris.

At 10:11 AM on March 12, 2025, Zydus Lifesciences Ltd share traded a 2.32% down at ₹879.50, down 3.48% over the past month and 8.73% over the past year.

Acquisition Price and Premiums

The acquisition price represents an 80.6% premium over Amplitude Surgical’s last closing price on March 10, 2025. It also shows premiums of 88.2% and 92.2% over the three-month and six-month volume-weighted average prices, respectively. The transaction is subject to regulatory approvals, including clearance from France’s Economy Ministry, and is expected to close in the first half of 2025.

Amplitude Surgical’s Financials

Amplitude Surgical specializes in lower-limb orthopaedic implants, including knee and hip prostheses. For FY24, the company reported sales of €106 million and an EBITDA of €27.1 million. In the six months ending December 31, 2024, it generated €51.5 million in sales, reflecting a 5% year-on-year growth. The company has operations in France, Brazil, Australia, Germany, Switzerland, Belgium, and South Africa.

Zydus Lifesciences’ Performance

Zydus Lifesciences recorded a revenue of ₹19,547 crore in FY24. For the first nine months of FY25, the company reported a 19% year-on-year revenue growth to ₹16,713.6 crore, an EBITDA of ₹4,933 crore (up 31%), and a net profit of ₹3,354.6 crore (up 25%). The acquisition will be funded through a combination of debt and internal accruals.

Conclusion

Currently, Amplitude Surgical does not operate in India. The Indian orthopaedic limb implants market was valued at $791.4 million in 2023 and is projected to reach $1,256.3 million by 2030, as per the reports. Zydus may introduce Amplitude’s products in the Indian market. Apart from orthopaedics, Zydus is also involved in nephrology and interventional cardiology through its medical devices division, Zydus MedTech.

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