M&A

M&A

Medical devices maker Poly Medicure to acquire Italy’s Citieffe Group at Rs.324-Cr valuation

BSE Announcement   Economic Times   Citieffe Group   Citieffe  

Delhi-based medical device maker Poly Medicure Ltd is to acquire Italy-based fellow medical device manufacturer Citieffe Group at an enterprise value of INR 324 crore (EUR 31 million). The company will acquire a 100% stake in Medistream SA (Group), consisting of Citieffe SRL and its step-down subsidiaries in the USA and Mexico.This acquisition is expected to provide Poly Medicure with an entry point into the global orthopaedics market, particularly in the trauma and extremities segment.Founded in 1962, Citieffe is a developer, manufacturer and distributor of orthopaedic trauma and extremity fixation systems, with a presence in Italy, the USA, and Mexico, and distribution across over 25 countries.