Poly Medicure Shares Rise on Strategic Acquisition of PendraCare Group

Poly Medicure Ltd. shares climbed following the announcement of its acquisition of a 90% stake in Netherlands-based PendraCare Group for €18.3 million. The company signed definitive agreements to acquire PendraCare Holdings and Wellinq Medical from Wellinq Holdings B.V., with the remaining 10% stake to be acquired in 2030 based on the group’s 2029 EBITDA. PendraCare Group, located in Leek, Netherlands, is an ISO-certified developer and manufacturer of cardiology catheter solutions, including guiding and diagnostic catheters. The acquisition strengthens Poly Medicure’s global cardiology business, providing immediate access to highly regulated markets like Europe and the US. The company anticipates annual synergies of €3-4 million over the next 3-4 years, driven by enhanced R&D, manufacturing, and distribution capabilities. This strategic move is expected to bolster Poly Medicure’s presence in the European market, fueling investor optimism and driving the stock’s upward trajectory.