Polymed to acquire 90% stake in PendraCare Group for ₹188.5 crores
Acquisition to provide Polymed access to cardiology catheter solutions and global regulated markets in Europe and the US
Polymed, a leading medical device company with a strong position in the medical consumables market, has announced the signing of definitive agreements to acquire a 90 per cent stake in PendraCare Group, which consists of PendraCare Holdings and Wellinq Medical, from Wellinq Holdings B.V. The deal has been finalised at an enterprise value of ₹188.5 crores (Euro 18.3 million).
The remaining 10 per cent stake will be acquired in 2030, based on the actual EBITDA for the calendar year 2029.
PendraCare Group develops, manufactures, and sells cardiology catheter solutions and also provides design, development, and manufacturing services to other global OEMs.
The acquisition has been described as a “bolt-on” deal, offering Polymed an opportunity to expand its cardiology business globally, with immediate access to the regulated markets of Europe and the United States.
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