New Delhi, March 11 -- Zydus Lifesciences has entered exclusive negotiations to acquire a controlling stake in France-based medtech firm Amplitude Surgical SA for €256.8 million, the drugmaker said on Tuesday, as it seeks to foray into the global medical devices market.

Zydus is looking to acquire an 85.6% stake in Amplitude Surgical from PAI Partners and the orthopaedic products maker's management, as well as two minority shareholders, following which the Ahmedabad-based pharma company will make a mandatory cash offer for the remaining shares, valuing the potential full acquisition at €300 million.

"With this, we will be making a foray into the global medtech space," managing director Sharvil Patel said at a virtual press c...