Diagnostyka Debuts on Warsaw Stock Exchange with $1 Billion Market Cap
Deal News | Feb 10, 2025 | Mid Europa Partners
MidEuropa Partners, a private equity firm based in Central Europe, announced that its portfolio company, Diagnostyka, commenced trading on the Warsaw Stock Exchange on February 7, 2025. Diagnostyka's initial public offering (IPO) was priced at PLN 105 per share, at the top of the anticipated range, resulting in a market capitalization exceeding 1 billion euros. This IPO ranks as one of the largest in Central Europe, highlighting Diagnostyka as a leading healthcare services provider. The offering successfully raised over 400 million euros, attracting substantial interest from both international and domestic investors. Diagnostyka’s growth, driven by a robust buy-and-build strategy and strong partnerships, has transformed it from a regional player into a national leader. The company’s growth strategy was notably supported by MidEuropa during a 13-year partnership, enabling over 120 acquisitions and consistent revenue growth. Advisors for the IPO included Rothschild & Co., Citigroup Global Markets, and other prominent financial institutions. Legal advisories were provided by Greenberg Traurig, Baker McKenzie, and White & Case.
Sectors
- Healthcare Services
- Private Equity
Geography
- Poland – Diagnostyka is a prominent healthcare provider in Poland and the IPO took place on the Warsaw Stock Exchange, indicating the geographical focus of the article.
- Central Europe – MidEuropa Partners is deeply rooted in Central Europe, and the article discusses Diagnostyka's position within the Central European healthcare market.
Industry
- Healthcare Services – The article centers around Diagnostyka, a leading provider of medical diagnostic services in Poland, emphasizing the healthcare services sector.
- Private Equity – MidEuropa Partners, a private equity firm, played a significant role in the IPO of Diagnostyka, showcasing the involvement of private equity in the growth and public listing of companies.
Financials
- PLN 105 – Initial Public Offering (IPO) share price for Diagnostyka.
- 1 billion – Market capitalisation of Diagnostyka on its first day of trading.
- 400 million – Gross proceeds raised from the IPO for MidEuropa fund investors.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Diagnostyka | Target Company | Company | A leading provider of medical diagnostic services in Poland. |
| MidEuropa Partners | Selling Company | PE Firm | A private equity firm managing the sale process through the IPO of Diagnostyka. |
| Rothschild & Co. | Financial Advisor | Company | Acted as an independent financial advisor during the IPO. |
| Citigroup Global Markets Limited | Global Coordinator | Company | Acted as a joint global coordinator for the IPO. |
| Santander Bank Polska S.A. | Co-offering Agent | Company | Acted as co-offering agent in Poland for the IPO. |
| Greenberg Traurig Nowakowska-Zimoch Wysokiski sp.k. | Legal Advisor to Issuer | Company | Provided legal counsel to Diagnostyka for the IPO. |
| Baker McKenzie Krzyowski i Wsplnicy sp.k. | Legal Advisor to Selling Shareholder | Company | Provided legal counsel to MidEuropa Partners, the selling shareholder. |