Archive · 3 Sep 2025
Polymed Acquires PendraCare to Boost Global Cardiology
An Indian medical device company, Poly Medicure (Polymed), is buying a large part of PendraCare Group, a Dutch company making heart tools.
The deal costs about ₹188.5 crore (€18.3 million).
This helps Polymed sell its products in Europe and the US, where PendraCare already sells.
PendraCare makes tools approved in countries like the US and China.
Polymed hopes to save money and sell more products by using PendraCare's connections and factories.
The deal is expected to be finalized within two months.
Poly Medicure Ltd will acquire a 90% stake in Netherlands-based PendraCare Group.
The acquisition is valued at ₹188.5 crore (€18.3 million).
PendraCare develops and manufactures cardiology catheter solutions.
The deal provides an immediate presence in Europe and the US for Polymed.
The transaction is expected to close in 4-8 weeks, subject to regulatory approvals.
- Who
- Poly Medicure Ltd (Polymed) is acquiring PendraCare Group.
- What
- Polymed will acquire a 90% stake in PendraCare Group.
- When
- The deal is expected to close in 4-8 weeks.
- Where
- PendraCare Group is based in the Netherlands.
- Why
- To strengthen Polymed's cardiology portfolio and expand global presence.
- Acquisition Target
- PendraCare Group
- Acquirer
- Poly Medicure Ltd (Polymed)
- Acquisition Stake
- 90%
- Acquisition Price
- ₹188.5 crore (€18.3 million)
- PendraCare FY2024 Revenue
- €9.9 million
- Expected Closing
- 4-8 weeks
