Poly Medicure Limited has informed the Exchange regarding a press release dated September 24, 2025, titled "Press Release for the updates on Acquisition of "Citieffe Group"".
POLYMED · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Poly Medicure Limited has signed a definitive agreement to acquire 100% of Italy-based Medistream SA, which includes Citieffe SRL and its US and Mexico subsidiaries, at an Enterprise Value of INR 324 Crores (EUR 31 million). This is the company's second acquisition within a month. Citieffe specialises in orthopaedic trauma and extremities products, with CY2024 revenue of EUR 17.3 million and EBITDA of EUR 3.1 million, reflecting 15% and 14% year-on-year growth respectively. The deal is valued at 10.2x EV/EBITDA, with Citieffe holding 45 patents, full EU MDR clearance, and FDA accreditation, plus direct sales presence in Italy, the US, and Mexico. The transaction is subject to customary approvals and is expected to close in 4-8 weeks, with existing management, including CEO Mr. Pascal Govi, continuing post-acquisition.
This acquisition gives Poly Medicure a strategic entry into the large and growing global orthopaedics market, particularly trauma and extremities. The combination of Citieffe's R&D and patented portfolio with Polymed's manufacturing scale and global distribution is expected to drive margin expansion (through Indian manufacturing) and revenue growth, which should be positive for long-term shareholder value.