Delhi-based medical device manufacturer Poly Medicure Limited has set its sights on expanding its footprint in the US trauma and extremities market, aiming to generate $15–20 million in revenue by 2030 through the acquisition of Medistream SA.
Strategic Acquisition Details
On September 24, 2025, Poly Medicure announced a definitive agreement to acquire 100% stake in Medistream SA, including its subsidiaries Citieffe SRL in the US and Mexico, in a transaction valued at ₹324 crore (€31 million). Medistream, headquartered in Switzerland with manufacturing operations in Italy, brings a US FDA-approved product portfolio and a strong track record in the medical devices sector.
Managing Director Himanshu Baid said the acquisition provides significant entry into the US market, estimated at $16–18 billion, with the US accounting for nearly 60% of demand. Currently, Medistream generates around $3–4 million in US revenues, which Poly Medicure plans to scale to $15–20 million by 2030.
Growth Outlook
Domestically, Poly Medicure expects 30% growth in FY26, supported by the recent GST reduction on medical devices to 5%, making healthcare more affordable and boosting demand. Exports are projected to grow at a more moderate 5–10% this year.
Baid highlighted challenges posed by Chinese dumping, which has impacted almost all sectors under India’s Production-Linked Incentive (PLI) scheme, with competitors aggressively lowering prices to capture market share.
Market Position
Poly Medicure’s current market capitalisation stands at ₹20,303 crore, with shares trading at ₹2,002.80 on the NSE as of 9:20 am, reflecting a 13% decline over the past year.
The Medistream acquisition is seen as a strategic move to strengthen Poly Medicure’s global presence, diversify its revenue base, and tap into the high-growth US medical devices market through a European manufacturing foothold.
✅ Summary
- Company: Poly Medicure Limited
- Acquisition: 100% stake in Medistream SA (€31 million / ₹324 crore)
- US Revenue Target: $15–20 million by 2030
- Domestic Growth FY26: 30%, aided by GST rate cut
- Export Growth FY26: 5–10%
- Strategic Rationale: Entry into US trauma and extremities market, diversification of revenue, European manufacturing base for smoother US market access
- Challenges: Chinese dumping and global tariff pressures
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