VALENCE, France--(BUSINESS WIRE)--Regulatory News:
Amplitude Surgical (Paris:AMPLI) (ISIN: FR0012789667, Ticker: AMPLI, PEA-PME eligible), a leading French player on the global surgical technology market for lower-limb orthopedics, announces the acquisition of the remaining minority interests (40%) in its Brazilian subsidiary.
Olivier Jallabert, Chairman and CEO of Amplitude Surgical, says: “On such a major and high-potential market as Brazil, we now totally control our distribution subsidiary. In Brazil, where Amplitude Surgical has been established since 2014 (and present – via a distributor – since 2006), this transaction should enable us to continue the particularly buoyant growth we have been recording in that country, over 30% in local currency in FY 2015-16, and thus to carry on benefiting from the considerable potential of this market, which already accounts for almost 10% of the Group’s sales.”
After acquiring a 50% stake in Unimplant, its historic distributor in Brazil, in February 2014 and an additional 10% stake in April 2015, Amplitude Surgical recently increased its stake in its subsidiary to 100% by exercising its call option on the remaining (40%) minority interests.
This latter operation, for approximately €4.1 million, significantly benefited from the Brazilian real’s weakness compared with the euro, as the stake’s value was booked as €4.4 million at the end of December 2015 and €6.6 million at June 30, 2015.
Next financial press release: 2015-16 annual results, on Thursday October 6, 2016, after market.
About Amplitude Surgical
Founded in 1997 in Valence, France, Amplitude Surgical is a leading French player on the global surgical technology market for lower-limb orthopedics. Amplitude Surgical develops and markets high-end products for orthopedic surgery covering the main disorders affecting the hip, knee and extremities, and notably foot and ankle surgery. Amplitude Surgical develops, in close collaboration with surgeons, numerous high value-added innovations in order to best meet the needs of patients, surgeons and healthcare facilities. A leading player in France, Amplitude Surgical is developing abroad through its subsidiaries and a network of exclusive distributors and agents. Amplitude Surgical operates on the lower-limb market through the intermediary of its Novastep subsidiaries in France and the United States. Amplitude Surgical distributes its products in more than 30 countries. As of June 30, 2016, Amplitude Surgical had a workforce of almost 290 staff and recorded sales of over 80 million euros.
Philippe Garcia, +33 (0)4 75 41 87 41
Marc Willaume, +33 (0)1 44 71 00 13
Nicolas Merigeau, +33 (0)1 44 71 98 55
Published at Nasdaq BusinessWire