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
Poly Medicure to buy 90% stake in Pendracare Group for ₹188.5 crore
Medical device maker Poly Medicure Ltd on Wednesday said it will acquire 90 per cent stake in the Netherlands-based PendraCare Group from Wellinq Holdings B.V. at an enterprise value of Rs 188.5 crore (18.3 million euros). The company has signed definitive agreements to acquire the stake in PendraCare Group consisting of PendraCare Holdings and Wellinq Medical from Wellinq Holdings BV, Poly Medicure said in a statement. The balance 10 per cent stake will be acquired in 2030 on the basis of actual EBITDA for calendar year 2029, it added. The existing management of PendraCare will continue to lead the business and Sander Hartman, who will continue to hold 10 per cent non-voting shares in the group, will remain as the CEO. PendraCare Group develops, manufactures and sells innovative cardiology catheter solutions and provides design, development and manufacturing services to other global OEMs. "This move brings us a valuable, 'made-in-Europe' cardiology consumables business with FDA a
Poly Medicure to invest ₹500 cr in new plants for global market push
Poly Medicure to set up three plants in Faridabad, Haridwar, and Jaipur for dialysis, cardiology, and oncology devices, targeting US, Europe, and Brazil markets by FY28
