India Pharma Outlook Team | Thursday, 25 September 2025
Poly Medicure Ltd., a prominent medical device manufacturing company in India, has made public the signing of a conclusive agreement for the purchase of Medistream SA, the parent of Citieffe SRL and its subsidiaries located in the US and Mexico, with an enterprise value of Rs 324 crore (€31 million) for the total stake. Italia-based Citieffe is an orthopaedic trauma and extremities company having more than 25-country-wide reach.
In 2024, Citieffe had a turnover of €17.3 million and an EBITDA of €3.1 million, marking 15% and 14% year-on-year growth, respectively. Backed by a diverse and patented portfolio and complete regulatory approvals, including EU MDR and US FDA clearance, the company is a major independent player in Italy with about 12% of the market share, and a rising foothold in Mexico and the US, the world’s largest orthopaedic market.
The takeover is Poly Medicure’s way of entering the global orthopaedics domain that is one of the quickest and most stable healthcare sectors. They will use Citieffe’s innovative pipeline, strong R&D base, and integrated business model to deepen their footprint in trauma and extremities and further in joint replacement which is one of the adjacent sectors.
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The company has planned to optimize costs by outsourcing manufacturing to India, thus achieving synergies. It will gain by deepening penetration in Europe and scaling up in the US where product pricing is more favorable.
Himanshu Baid, Managing Director, Poly Medicure, said that the acquisition not only underlines the company’s commitment to providing innovative, patient-centric healthcare solutions but is also acting as a wind-up to its global expansion strategy.
