Poly Medicure acquires PendraCare Group, Netherlands for Rs 188.5 crores

New Delhi: Poly Medicure, one of the India’s leading medical device company, has announced signing of definitive agreements to acquire 90% stake in PendraCare Group consisting of PendraCare Holdings and Wellinq Medical from Wellinq Holdings B.V. at an Enterprise value of Rs 188.5 crores (Euro 18.3mn).

The balance 10% stake to be acquired in 2030 basis actual EBITDA for CY 2029. PendraCare Group develops, manufactures and sells innovative cardiology catheter solutions and provides design, development and manufacturing services to other global OEM’s.

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.