Poly Medicure to Acquire Citieffe Group for ₹324 Crore; Share Price Surges Over 2%

Poly Medicure Ltd, on September 24, 2025, announced that it has signed a definitive agreement to acquire Medistream SA, the parent company of Italy-based Citieffe SRL and its subsidiaries in the US and Mexico. 

The acquisition is valued at an enterprise value of ₹324 crore (€31 million). The equity value is €18.8 million, with repayment of shareholder loans of €4.2 million and net external debt of €8.1 million, bringing the upfront payout to €23 million. The deal is expected to close in 4-8 weeks, subject to approvals.

Citieffe’s Business

Citieffe operates in the orthopaedic trauma and extremities segment. The company has direct operations in Italy, the US, and Mexico, and distributes to more than 25 countries. In CY2024, it reported revenue of €17.3 million and EBITDA of €3.1 million. Both revenue and EBITDA grew by over 14% year-on-year. Citieffe holds 45 patents, has EU MDR certification, and US FDA accreditation.

Market Share

In Italy, Citieffe accounts for about 12% of its market segment. In Mexico, it is among the leading players with over 12% share. The company is also building a position in the US market. Its portfolio covers trauma implants and extremities products.

Poly Medicure’s Plans

Poly Medicure said it intends to make Citieffe’s products available in India through local production. It also plans to use its own distribution channels to widen Citieffe’s reach in Europe and other regions. The company indicated it could shift some manufacturing processes to India to bring down costs.

Citieffe’s current management, including Chief Executive Officer Pascal Govi, will remain with the company. The seller is Archimed, a healthcare-focused private equity fund based in Europe.

Read more: Poly Medicure Acquires 90% Stake in PendraCare for ₹188.5 Crore to Expand Cardiology Business!

Poly Medicure Share Price Performance 

As of September 25, 2025, 11:09 AM, Poly Medicure share price was trading at ₹2,044.70 on the BSE, a 3.11% increase from the previous closing price.

Conclusion 

Poly Medicure has announced two overseas acquisitions in one month. The Citieffe deal, valued at ₹324 crore, is expected to close after regulatory clearance.

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