Poly Medicure Ltd News
Poly Medicure shares jump 5% on plans to acquire Citieffe Group for ₹324-cr
Poly Medicure shares rose 5 per cent after it announced its decision to fully acquire Italy-based Citieffe Group
 "Poly Medicure shares jump 5% on plans to acquire Citieffe Group for ₹324-cr")
Poly Medicure to fully acquire Citieffe Group at value of ₹324 cr
Medical device maker Poly Medicure Ltd on Wednesday said it will fully acquire Italy-based Citieffe Group at an enterprise value of Rs 324 crore (EUR 31 million). The company has signed a definitive agreement to acquire 100 per cent stake in Medistream SA (Group) consisting of Citieffe SRL and its step-down subsidiaries in USA & Mexico, the company said in a statement. Citieffe is an Italy-based manufacturer specialising in the orthopaedic trauma and extremities segment with a direct presence in Italy, USA, and Mexico, and distribution across over 25 countries, it added. This acquisition provides Poly Medicure with an entry point into the large global orthopaedics market, particularly in the trauma and extremities segment, which is the fastest growing and most resilient category within orthopaedics, the company said. "This acquisition marks another step in our journey to become a comprehensive healthcare solutions provider. Citieffe's strong R&D capabilities and diverse trauma