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Poly Medicure Expands Indian Manufacturing After Overseas Acquisitions
Poly Medicure makes medical devices.
It recently bought companies in Italy and the Netherlands.
Now it wants to make more of their products in India.
New factories are planned in Haryana and Uttar Pradesh.
The company wants to launch 25 to 30 new products each year until FY30.
These products will include devices for heart, bone, kidney, stomach and cancer care.
Poly Medicure says many new products will replace imported technology.
This could help hospitals reduce costs.
The company also faces higher shipping, material, insurance and tariff-related uncertainty.
Poly Medicure plans to launch 25–30 new products annually through FY30.
The company is prioritising cardiac, orthopaedic, nephrology, gastroenterology and oncology products.
It acquired Italy-based Citieffe Group for an enterprise value of ₹324 crore and a majority stake in Netherlands-based PendraCare Group for ₹188.5 crore.
Production from the acquisitions will be transferred partly to India, with new facilities planned in Haryana and Uttar Pradesh.
About 70% of Poly Medicure’s ₹1,875-crore revenue comes from exports, while it expects turnover of about ₹2,300 crore for the financial year.
- Who
- Poly Medicure and its Managing Director, Himanshu Baid.
- What
- The medical-device maker is expanding domestic manufacturing and developing new products after acquiring overseas businesses.
- Where
- New manufacturing capacity is planned in Haryana and at a medical park in Uttar Pradesh, following acquisitions in Italy and the Netherlands.
- When
- The acquisitions were agreed late last year; the company’s plans run through FY30, and the report was published September 25, 2026.
- Why
- To increase capacity in India, lower production costs, develop import-substitution products and reduce reliance on foreign technology and products.
Key facts
- Product target
- 25–30 new products every year through FY30
- Acquisition: Citieffe Group
- Wholly acquired; enterprise value of ₹324 crore
- Acquisition: PendraCare Group
- Majority stake acquired; enterprise value of ₹188.5 crore
- Planned facilities
- Additional capacity in Haryana and Uttar Pradesh
- Export share
- About 70% of revenue
- Reported revenue base
- ₹1,875 crore
- Expected turnover
- About ₹2,300 crore for the financial year
Quotes
Himanshu Baid
Managing Director of Poly Medicure Ltd
“We have around 390 patents …and we are working on a lot of new technologies, a lot of new devices, which we are trying to bring in. And most of these technologies are import substitution. So that is further going to help hospitals save costs and…. reduce our dependency on foreign technology and foreign products”
thehindubusinessline.com
“So every year, the plan is [for] the next four years, by FY30, we plan to launch 25, 30 new products every year”
thehindubusinessline.com
Sources
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