Poly Medicure’s wholly owned step-down subsidiary -- RisoR Holdings B.V., Amsterdam, Netherlands has signed a share purchase agreement with Wellinq Holdings B.V. Amsterdam, Netherlands, for the purpose of acquisition of ordinary shares of Pendracare Holdings B.V. and Wellinq Medical B.V. (PendraCare Group). The company through Risor Holding B.V. owns 90% stake in the PendraCare group. Subsequently, Wellinq Medical B.V. and PendraCare Holding B.V. have become the step-down subsidiaries of the company.
Earlier, the company had signed definitive agreements to acquire 90% stake in PendraCare Group consisting of PendraCare Holdings and Wellinq Medical from Wellinq Holdings B.V. at an Enterprise value of 18.3 million euros.
Poly Medicure is one of the leading Medical Devices company and exporter in India.
