Poly Medicure Ltd Acquires Citieffe Group for INR 324 Crores, Expanding into Global Orthopaedics Market

Poly Medicure Ltd, a leading medical device company in India, has announced the acquisition of Citieffe Group, an Italy-based manufacturer specializing in the orthopaedic trauma and extremities segment. The acquisition, valued at INR 324 Crores (EUR 31 Million), provides Poly Medicure with an entry point into the large global orthopaedics market, particularly in the trauma and extremities segment, which is the fastest growing and most resilient category within orthopaedics. Citieffe generated revenues of EUR 17.3 million and EBITDA of EUR 3.1 million in CY 2024, reflecting year-on-year growth of 15% and 14% respectively. The acquisition is expected to boost financial performance by leveraging Polymed's manufacturing expertise and global distribution network, and offers significant potential to scale-up US business.