Poly Medicure Expands Global Reach with Citieffe Acquisition
Poly Medicure Ltd plans to acquire Italy's Citieffe Group for Rs 324 crore. The move strengthens its position in the orthopaedics segment and expands its global reach. This acquisition follows Poly Medicure's recent purchase of a stake in PendraCare Group, enhancing its healthcare solutions portfolio.
- Country:
- India
In a strategic move to bolster its portfolio, Poly Medicure Ltd announced its acquisition of Italy-based Citieffe Group, valued at Rs 324 crore. The deal marks Poly Medicure's expansion into the thriving orthopaedic trauma and extremities segment.
This acquisition represents a significant step for Poly Medicure as it seeks to broaden its global footprint in healthcare technology. Citieffe, with operations in Italy, the USA, and Mexico, specializes in orthopaedic trauma and extremity products, offering a robust R&D and product lineup.
The acquisition follows Poly Medicure's earlier purchase of a stake in PendraCare Group, highlighting its aggressive expansion strategy. This move aligns with its mission to deliver innovative healthcare solutions while reducing product costs through manufacturing in India.
(With inputs from agencies.)
ALSO READ
HVAX Technologies Eyes Global Expansion and Strategic Ventures
Key Financial Moves: Tether's Ambitious Valuation and Global Expansion
CtrlS Datacenters Strengthens Leadership for Global Expansion
Chakr Innovation Secures $23M for Global Expansion and R&D Boost
Dr. David V. Rajan: Leading Orthopaedics to New Heights
Google News