Ahmedabad-based pharmaceutical giant Zydus Lifesciences has taken a significant step towards expanding its presence in the medtech sector by acquiring a controlling 85.6% stake in Amplitude Surgical SA, a leading French orthopaedic technology company. The deal, valued at €256.8 million (₹2,430 crore), was approved by the company's board of directors recently.

According to media reports, following this strategic acquisition, Zydus plans to file a mandatory cash tender offer for the remaining shares of Amplitude at the same purchase price of €6.25 per share. This move could potentially result in a full acquisition worth approximately €300 million (₹2,850 crore), paving the way for the company to delist Amplitude from the Euronext Paris stock exchange.

The acquisition price reflects a substantial premium of 80.6% over Amplitude’s last closing price as of March 10. Moreover, it represents premiums of 88.2% and 92.2% over the three-month and six-month volume-weighted average price, respectively. The transaction, however, remains subject to regulatory approvals, including clearance from France’s Economy Ministry. Zydus expects the deal to be completed within the first half of this year.

This acquisition aligns with Zydus’ strategic goal of building a medtech business, which is still in its early stages. According to a Mumbai-based analyst, the company has been actively seeking opportunities to diversify beyond its core pharmaceutical operations. "Over the next 18–24 months, we expect revenues to grow from this segment as products get commercialised. The acquisition of Amplitude will give it geographical access," the analyst noted.

Zydus Lifesciences reported robust financial performance for FY24, with revenue reaching ₹19,547 crore. For the first nine months of FY25, the company recorded a year-on-year revenue growth of 19%, amounting to ₹16,713.6 crore. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) surged by 31% to ₹4,933 crore, while net profit grew by 25% to ₹3,354.6 crore. The acquisition will be financed through a combination of debt and internal accruals.

Founded in France, Amplitude Surgical is a prominent European medtech firm specialising in lower-limb orthopaedic technologies. The company focuses on the design and development of knee and hip prostheses to replace damaged or worn-out joints, positioning itself as a leader in innovative orthopaedic solutions.

With this acquisition, Zydus aims to leverage Amplitude’s expertise in advanced orthopaedic solutions while broadening its geographical footprint in Europe. As the Indian pharma major continues to diversify its portfolio, the deal underscores its commitment to expanding beyond traditional pharmaceutical products and tapping into the growing medtech market.

Industry experts believe that this acquisition will not only enhance Zydus’ capabilities in medical technology but also provide long-term growth prospects as the company integrates Amplitude's offerings into its portfolio.