Poly Medicure Limited has informed the Exchange about the Investor's Presentation on Acquisition of "Citieffee Group".
POLYMED · price
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Poly Medicure is acquiring 100% of Medistream SA, which includes Italy-based Citieffe SRL and its subsidiaries in the USA and Mexico. Citieffe is a vertically integrated trauma and extremity orthopaedic fixation systems company founded in 1962, with EU MDR compliant products and 45+ patents. The deal has an enterprise value of about Euro 31 million, with an equity valuation of Euro 18.8 million plus Euro 4.2 million shareholder loan repayment and Euro 8.1 million net debt taken over, valuing the company at 10.2x EV/EBITDA. Citieffe reported CY24 revenue of Euro 17.3 million (up 15% YoY) and EBITDA of Euro 3.1 million (up 14% YoY). The acquisition will be funded entirely through internal cash and accruals, with closing expected in the next 4-8 weeks. Existing management, including CEO Pascal Govi, will continue post-transaction.
This acquisition gives Poly Medicure entry into the fast-growing global orthopaedics segment, particularly trauma and extremities, which is the fastest-growing sub-segment with low COVID-resilience issues. The deal adds direct sales presence in Italy, USA, and Mexico, expanding Polymed's international footprint and providing synergies through cross-selling and manufacturing optimization. For shareholders, this is a strategic, cash-funded acquisition that should boost long-term growth without straining the balance sheet.