Poly Medicure buys 100% stake in Italy-based Citieffe for ₹324 cr; to enter global orthopaedics market

Leading medical device manufacturer Poly Medicure has announced the acquisition of a 100% stake in Medistream SA (“Group”), comprising Citieffe SRL and its step-down subsidiaries in the USA & Mexico, for ₹324 crore. The company believes the strategic acquisition provides it with an entry point into the large global orthopaedics market, particularly in the trauma and extremities segment, the fastest-growing and most resilient category within orthopaedics.

Citieffe is an Italy-based manufacturer specialising in the orthopaedic trauma and extremities segment with a direct presence in Italy, the USA, and Mexico, and distribution across 25+ countries. The company’s revenues stood at EUR 17.3 million and EBITDA of EUR 3.1 million in CY 2024, a YoY growth of 15% and 14%, respectively. 

In its rationale behind the strategic acquisition, the company said it’ll provide a platform for expanding into the attractive orthopaedics segment, specifically focused on the fastest-growing extremities sub-segment, platform to build a global orthopaedic business. 

Himanshu Baid, Managing Director, Poly Medicure, stated that the acquisition marks another step in our journey to become a comprehensive healthcare solutions provider. “Citieffe’s strong R&D capabilities and diverse trauma & extremity portfolio align with our mission to deliver innovative, patient-centric technologies. Together, we will be able to accelerate the expansion into orthopaedics adjacencies and expand reach to more patients globally.” 

Citieffe has direct sales operations in the U.S., Italy, and Mexico, providing Poly with a deeper foothold in these key markets. “We see synergies in combining Citieffe’s innovation pipeline with Polymed’s manufacturing scale and commercial reach—this is about creating long-term value for healthcare providers, patients, and our stakeholders.” 

Pascal Govi, CEO, Citieffe, stated the company is enthusiastic to start a new venture, with a group sharing a common culture and vision. Other factors that prompted the buyout are Citieffe’s differentiated portfolio, global presence, growth potential, strong financials, and synergies. 

The acquisition is expected to boost Citieffe’s financial performance by leveraging Polymed's manufacturing expertise and global distribution network. It will also enable product portfolio expansion through the addition of plates in the near term, the company said. 

The company also plans to introduce Citieffe in India, and will manufacture locally at lower costs, which could lead to stronger competition and a differentiated portfolio.