India, Sept. 25 -- Poly Medicure Ltd a leading Indian medical device company, has signed a definitive agreement to acquire 100% stake in Medistream SA, comprising Citieffe SRL and its subsidiaries in the USA and Mexico, at an enterprise value of INR 324 crore (EUR 31 million).
Citieffe, an Italy-based manufacturer, specializes in orthopaedic trauma and extremities products and has a direct presence in Italy, the USA, and Mexico, with distribution in over 25 countries. In CY 2024, Citieffe recorded revenues of EUR 17.3 million and EBITDA of EUR 3.1 million, reflecting year-on-year growth of 15% and 14%, respectively.
The acquisition provides Poly Medicure a strategic entry into the global orthopaedics market, particularly in the trauma and...