ZYDUSLIFE

eyes global medtech foray with €257 mn acquisition of Amplitude Surgical

s Lifesciences has entered exclusive negotiations to acquire a controlling stake in France-based medtech firm Amplitude Surgical SA for €256.8 million, the drugmaker said on Tuesday, as it seeks to foray into the global medical devices market. Zydus is looking to acquire an 85.6% stake in Amplitude Surgical from PAI Partners and the orthopaedic products maker’s management, as well as two minority shareholders, following which the Ahmedabad-based pharma company will make a mandatory cash offer for the remaining shares, valuing the potential full acquisition at €300 million. “With this, we will be making a foray into the global medtech space,” managing director Sharvil Patel said at a virtual press conference. “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 added.