With two overseas acquisitions in the bag, medical devices maker Poly Medicure is focussing on shoring up its domestic manufacturing in segments including cardiac and orthopaedic products.
“So every year, the plan is [for] the next four years, by FY30, we plan to launch 25, 30 new products every year,” said Himanshu Baid, Managing Director, Poly Medicure Ltd, adding that the focus would be on cardiac, orthopaedic, nephrology, gastro, and oncology products.
“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,” Baid told businessline.
Late last year, Poly Medicure inked agreements to wholly acquire Italy-based Citieffe Group at an enterprise value of ₹324 crore; besides a majority stake in Netherlands-based PendraCare Group at an enterprise value of ₹188.5 crore. While Citieffe makes orthopaedic trauma products, PendraCare specialises in cardiology ancillary consumables, besides developing and manufacturing cardiology catheter solutions.
“We’re transferring some of the production to India. And this will help us to lower the cost,” he said. The integration following the two acquisitions were complete, Baid said, adding that nothing changes for the employees. However, all the additional capacity would come up in India, he said, of new facilities in Haryana, and a second in the medical park in Uttar Pradesh.
About 70 percent of the company’s ₹1875-crore revenues are from exports. But increased freight, plastics and insurance costs, and challenges of the Hormuz and Red Sea shipping routes, besides US tariffs were adding to the unpredictability hanging over the sector, he said. Presently, as the second largest medical device company in the country, he said, they expected to close the financial year with a turnover of about ₹2,300 crore.
Published on September 25, 2026
