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Zydus to buy French medical device maker Amplitude Surgical
The Indian drug manufacturer will acquire an 85.6% stake in Amplitude Surgical from PAI Partners

Ahmedabad-headquartered pharma firm Zydus Lifesciences Ltd has entered into exclusive negotiations to buy French medtech firm Amplitude Surgical SA for €256.8 million (about $277.13 million).
The Indian drug manufacturer will acquire an 85.6% stake in Amplitude Surgical from PAI Partners, the management of orthopedic product manufacturers, and two other minority stakeholders, the company said, adding that once this process is completed, it will make a mandatory cash offer of the remaining shares, valuing the potential acquisition at €300 million (about $326.93 million).
The acquisition is expected to help Zydus enter the global medtech space, managing director Sharvil Patel said.
“We want to offer services beyond just medicines, so whether it is medical devices which are highly technologically oriented or companion diagnostics-areas where we feel better patient outcomes can be seen,” he said.
The cash tender offer by Zydus will pave the way for the complete acquisition of Amplitude, the company that would be subsequently delisted from the Euronext Paris stock exchange.
Zydus has offered €6.25 per equity share, representing an 81% premium to Amplitude’s last close.
The French firm offers surgical technologies for lower limb orthopedics and manufactures high-end products for orthopedic surgery used for hip and knee surgery.
Indian medical devices and technology imports are more than its exports, Zydus’ Patel said, while noting that Indian exports are growing, and “there is still a large opportunity to scale up.”
In FY24, India imported $8.2 billion worth of medical devices, 13% more than the previous fiscal and more than double the value of its exports at $3.8 billion.