The Board of Directors of Zydus Lifesciences at its meeting held today approved entering into a Put Option Agreement, Share Purchase Agreements, and other agreements to acquire, directly or through its affiliates, a controlling stake i.e. 85.6% equity shares (block acquisition) of Amplitude Surgical SA, France (target entity) from the existing shareholders at a price of Euro 6.25 per equity share aggregating to a consideration value of Euro 256.8 million.
The target entity has a leading position in the attractive orthopaedics market. It has global reach with its extensive distribution footprint backed by high-quality products meeting highest quality standards and regulations. The reach is expected to be enhanced by ongoing product development pipeline and computer assisted program.
The proposed acquisition shall act as a platform to execute Zydus' global MedTech strategy and a natural extension for Zydus having a proven track record in life sciences and wellness segments.