Posted By Global Banking and Finance Review
Posted on January 22, 2025
GDANSK (Reuters) - Polish medical diagnostics company Diagnostyka, which is set to make its stock market debut on Feb. 7, is planning further acquisitions in its home market with a focus on diagnostic imaging, co-founder and CEO Jakub Swadzba said on Wednesday.
Swadzba however ruled out pursuing deals abroad.
His company has been growing organically and through mergers and acquisitions since its foundation in 1998, completing 128 deals between 2011-2023.
That has helped it to achieve about a 22% market share in laboratory testing in Poland, compared to 9% for its competitor Grupa Alab and 4% held by Synevo, owned by Sweden's Medicover.
"We have a project for the acquisition of small laboratories. We want to continue our policy from years ago, which is to continue acquiring around 10 small entities, for which we do not need any additional funding," Swadzba said.
Diagnostyka has launched an initial public offering in Warsaw worth up to 1.7 billion zloty ($417 million). It will not get any money from the IPO.
"At the moment, we are also in talks with several medium-sized entities in the diagnostic imaging sector. And we also do not foresee the need for additional funding," Swadzba added.
Diagnostic imaging includes MRI and CAT scans, ultrasounds and X-rays.
Asked about a dividend for 2024, Swadzba said the company was planning to pay one, of at least 50% of its net profit.
($1 = 4.0756 zlotys)
(Reporting by Anna Pruchnicka and Adrianna Ebert; Editing by Jan Harvey)
