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03/2025

AMPLITUDE SURGICAL acquired by ZYDUS

FRANCE Life Sciences / Medical Devices / Implants & Prosthetics EV €300–700M

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 [members only] in 2024, is valued in this transaction at an EV/EBITDA multiple of 10x–18x, representing a level close to the average currently observed in the Healthcare & Pharma sector (14.3x).

-> Deep-dive in Healthcare & Pharma market trends

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.

Ent. Value

€300–700M

Equity Value

[members only]

Multiples

EV / Revenue

2x–6x

EV / EBITDA

10x–18x

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2024
€100–200M
€10–30M
[members only]
2023
€100–200M
€10–30M
[members only]

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REFERENCES

Valuation range: EV €300–700M

Revenue range: €100–200M

EBITDA range: €10–30M

EV/Revenue range: 2x - 6x

EV/EBITDA range: 10x - 18x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of AMPLITUDE SURGICAL by ZYDUS are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.