AMPLITUDE SURGICAL acquired by ZYDUS
Context
Zydus entered into exclusive negotiations to acquire a controlling 85.6% stake (block trade) in Amplitude Surgical from PAI Partners, the management and minority shareholders. The offer price is EUR6.25 per share, representing an 80.6% premium over the pre-announcement share price. Following the block acquisition, Zydus will launch a mandatory simplified tender offer (OPAS) to acquire the remaining shares and intends to delist the company (squeeze-out) if the 90% threshold is reached.
AMPLITUDE SURGICAL, which reported an EBITDA margin of in 2024, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Healthcare & Pharma sector (15.6x).
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Target
Amplitude Surgical is a leading French MedTech company specializing in the design and manufacture of high-end orthopedic implants for lower-limb surgery (primarily Hip and Knee). Founded in 1997 in Valence, the group positions itself as a premium player, differentiating through a strong technological ecosystem that includes the AMPLIVISION computer-assisted navigation system and the i.M.A.G.E. single-use instrumentation platform. Following the strategic divestment of its foot and ankle division (Novastep) in 2023, the company refocused entirely on its core hip and knee segments, where it holds a strong #2 market position in France.
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REFERENCES
Valuation range: EV 300M - 700M EUR
Revenue range: 100M - 200M EUR
EBITDA range: 10M - 30M EUR
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.