Willkie Farr & Gallagher Advises PAI Partners on Zydus Lifesciences Acquisition of Amplitude Surgical.
Zydus Lifesciences Limited has entered exclusive negotiations to acquire a controlling stake in Amplitude Surgical, a leading provider of high-quality lower-limb orthopaedic technologies.
Announced on March 11, 2025, Zydus will purchase 85.6% of Amplitude’s outstanding shares for €6.25 per share, with a total purchase consideration of €256.8 million. This acquisition involves shares from PAI Partners, Amplitude’s management, and two minority shareholders.
Amplitude Surgical is at the forefront of European MedTech, focusing on high-quality knee and hip prostheses. These cutting-edge products are designed to replace damaged or worn-out joints and are used widely by surgeons and healthcare facilities to improve patient outcomes.
Supported by PAI Partners through its Mid-Market Fund, Amplitude Surgical has experienced significant growth over the last few years. The company has focused on product innovation, expanding its international footprint, and investing in manufacturing capabilities and R&D.
Stefano Drago, a Founding Partner of the PAI Mid-Market Fund at PAI Partners, stated:“We are delighted to have supported Amplitude Surgical’s transformation into a European leader in lower-limb orthopaedics, with a particular focus on innovation. Over the last four years, the Company has reinforced its market position, delivered a strong financial performance based on continuous product development, successfully disposed of a non-core business and streamlined operational processes while developing a new state-of-the-art manufacturing facility in France and an innovative surgical robot. Thank you to Olivier Jallabert and his fantastic team for their partnership.”
These initiatives have solidified Amplitude’s position as a trusted leader in the orthopaedics sector.
PAI Partners is a leading private equity firm focused on investing in mid-market companies across Europe. Established in 1994, the firm specializes in driving value creation by partnering with management teams to accelerate growth, improve operational performance, and optimize capital structures. PAI Partners manages over €15 billion in assets and has a strong track record of successfully investing in sectors such as healthcare, industrials, consumer goods, and business services. With a team of experienced professionals, PAI Partners applies a hands-on approach to support the long-term success of its portfolio companies while delivering exceptional returns for its investors. The firm operates from its offices in Paris, London, and Luxembourg.
Willkie Farr & Gallagher LLP (Willkie) is advising PAI Partners on the sale of its majority stake in Amplitude Surgical. The legal team handling the transaction is led by partners Eduardo Fernandez and Gabriel Flandin, with support from associates Mathilde Faure, Axel Rogeon, and Floriane Teillet. Their expertise ensures that all legal aspects of the deal are managed efficiently.
The acquisition of Amplitude Surgical by Zydus Lifesciences is a strategic move to strengthen Zydus' portfolio in the orthopaedic device market. With Amplitude's established position in joint replacement technologies and European markets, the deal will significantly enhance Zydus’ offerings in the healthcare sector.
Willkie Farr & Gallagher LLP is a leading international law firm founded in 1888, known for its expertise in corporate law, litigation, and regulatory matters. With offices in major cities like New York, London, and Paris, the firm serves a diverse range of clients, including corporations, financial institutions, and government entities. Willkie is recognized for handling complex, high-stakes legal matters across industries such as finance, healthcare, and technology, delivering innovative and client-focused solutions.
