Poly Medicure Ltd to Acquire 90% Stake in PendraCare Group, Netherlands for Euro 18.3mn

Poly Medicure Ltd, a leading Medical Device company in India, has announced signing of definitive agreements to acquire 90% stake in PendraCare Group, a Netherlands-based developer and manufacturer of innovative cardiology catheter solutions. The acquisition is at an Enterprise value of Euro 18.3mn. The balance 10% stake will be acquired in 2030 based on actual EBITDA for CY 2029. PendraCare Group has products registered in Europe, FDA, ANVISA, CFDA, KFDA and multiple local country registrations. This 'bolt-on' acquisition provides Polymed with an opportunity to scale its cardiology business globally with immediate access to world's most regulated markets of Europe and the US.