Polish Laboratory Operator Eyes IPO on Warsaw Stock Exchange
A New Chapter for Diagnostyka SA
In a move that could signal a resurgence in Poland’s initial public offering (IPO) market, Diagnostyka SA, a leading laboratory operator, is planning to go public on the Warsaw Stock Exchange. This development comes after a mixed year for listings in 2024.
A Strategic Move
The IPO will involve the sale of existing shares held by private equity fund Mid Europa Partners, which owns a 47.83% stake in the company. Diagnostyka SA does not intend to issue new shares. According to sources, the offering could value the company at over 5 billion zloty ($1.2 billion).
A Strong Track Record
Diagnostyka SA has a solid financial foundation, with recurring earnings before interest, tax, depreciation, and amortization amounting to 383.4 million zloty for the first nine months of 2024. The company has seen a compound annual growth rate of 24% between 2011 and 2023, driven by strategic acquisitions.
Growth Ambitions
The Krakow-based firm aims to use its strong free cash flow to pay dividends and pursue further acquisitions. In a competitive market, Diagnostyka SA competes with Synevo, owned by Swedish Medicover AB, and Alab Laboratoria, backed by German Limbach Gruppe.
A Commitment to Shareholders
Co-founder and CEO Jakub Swadzba emphasized that the planned IPO is a crucial step in supporting the company’s further development and increasing shareholder value. The offering is being led by a consortium of banks, including Banco Santander SA, Citigroup Inc., and Jefferies Financial Group Inc.
A Leading Player in Poland’s Healthcare Sector
Diagnostyka SA operates an extensive network of 1,100 blood collection points and 156 labs across Poland, serving approximately 20 million patients annually. With a strong presence in the market, the company is well-positioned to capitalize on future growth opportunities.
A New Era for Diagnostyka SA
As the company prepares for its IPO, it marks a significant milestone in its journey. With a strong financial foundation, growth ambitions, and a commitment to shareholders, Diagnostyka SA is poised to make a lasting impact on Poland’s healthcare sector.
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