Zydus Lifesciences to Acquire 86% Stake in French Medical Devices Maker Amplitude Surgical
The acquisition, which comes at an impressive 81% premium over Amplitude's last share price, reflects a proactive approach as the Indian pharmaceutical sector navigates potential challenges from US import tax plans.
India's Zydus Lifesciences has announced to acquire an 85.6% stake in French medical devices manufacturer Amplitude Surgical for €256.8 million (approximately $280 million).
This strategic move aims to bolster Zydus's presence in the global medical devices market.
"In Amplitude Surgical, we see several medium-term and long-term growth opportunities with respect to portfolio, capabilities, manufacturing and geographies," said Zydus Lifesciences's Managing Director Sharvil Patel.
The acquisition, which comes at an impressive 81% premium over Amplitude's last share price, reflects a proactive approach as the Indian pharmaceutical sector navigates potential challenges from US import tax plans.
Zydus Lifesciences derives 47% of its revenue from the United States, making it its largest market, followed closely by India.
The company, primarily known for its generic drugs, is diversifying its portfolio to include specialty drugs and advancements in medical technology.
Amplitude Surgical specializes in surgical technologies for lower-limb orthopedics, particularly focused on hip and knee procedures, and has been extending its international footprint, operating in over 30 countries. As of June 2024, the company employed 428 people and reported sales nearing €106 million.
