Outcome Of Board Meeting held on today i.e. 24th September, 2025 - Updates on Share Purchase Agreement for acquisition purpose of "Citieffe Group"
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Poly Medicure's board, meeting on 24th September 2025, approved a Share Purchase Agreement through its wholly owned Dutch subsidiary Poly Medicure B.V. to buy 100% of Citieffe Group from Medistream SA (Switzerland). The Citieffe Group includes Citieffe SRL (Italy), Citieffe Inc (USA), and Citieffe De (Mexico), which make orthopaedic and trauma implants. After closing, these will become step-down subsidiaries of Poly Medicure. No financial details (deal value, revenue of target) were disclosed. Separately, the board allotted 33,775 equity shares at Rs. 100 each (Rs. 5 face value + Rs. 95 premium) to employees under the ESOP 2020 scheme, raising the paid-up equity capital from Rs. 50.66 crore to Rs. 50.68 crore (a marginal 0.03% dilution).
This is a strategic overseas acquisition that expands Poly Medicure's footprint into the orthopaedic implants segment across Europe and the Americas, which could drive long-term revenue growth. The ESOP allotment is a minor, routine dilution and should not meaningfully affect shareholders. Watch for further disclosures on deal size and funding, as those will determine the actual financial impact.