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Diagnostyka's Successful Listing on the Warsaw Stock Exchange

On February 7, 2025, Diagnostyka, a leading medical diagnostics provider in Poland and a portfolio company of MidEuropa, marked a significant milestone by debuting on the Warsaw Stock Exchange. This initial public offering (IPO) showcased the company's impressive growth and strategic positioning within the European healthcare sector.

From the outset, the IPO generated substantial interest from both domestic and international investors. The final trading price on the first day established Diagnostyka's market capitalization at over €1 billion, placing it as the second-largest publicly listed healthcare services firm in Central Europe, and it is now among the top seven in the broader European market. This success reflects a well-executed approach by Diagnostyka, which began its journey 27 years ago under the leadership of its CEO and two co-founders. The share offering raised more than €400 million, with shares priced at PLN 105, the upper limit of the price range, indicating strong investor confidence.

Matthew Strassberg, MidEuropa's partner and head of healthcare, expressed the significance of this listing: "The overwhelming interest in Diagnostyka's shares underlines the company's focused strategy and excellent track record. During our partnership, we were able to contribute to the transformation and growth of Diagnostyka into a market leader. With over 120 acquisitions and a staggering 24% annual revenue growth, the future looks bright for the company."

The journey to becoming a national powerhouse has not been without challenges. However, Diagnostyka's relentless commitment to investing in advanced laboratory infrastructure and embracing digital transformation has enabled it to evolve from its regional roots to a key player in the national healthcare space. It now serves over 20 million patients annually, ensuring that vital diagnostic services are accessible across Poland.

Dr. Jakub Swadzba, CEO and co-founder of Diagnostyka, acknowledged MidEuropa's instrumental support over the years: "Our partnership has been transformational, and we are excited to enter this new phase of our journey with public market investors."

Diagnostyka's IPO is celebrated as one of the largest offerings on the Warsaw Stock Exchange in the past five years, showcasing MidEuropa's ability to guide its companies towards substantial public market exits. The listing follows the notable IPO of e-commerce platform Allegro in 2020, reinforcing MidEuropa's reputation as a leading private equity firm in Central Europe.

With a strong foundation and a clear growth strategy, Diagnostyka's success resonates well beyond the stock market, promising enhanced medical services and accessibility for the people of Poland.

Conclusion

As we look to the future, the success of Diagnostyka serves as a testament to the growth potential within Poland's healthcare sector. With continued investment and strategic partnerships, the path forward looks promising for Diagnostyka and its commitment to excellence in medical diagnostics.