Learn about the main variables that define the current situation and financial performance of the Spanish biomedical company Atrys Health since its listing on the MAB in 2016. We also analyse its recent capital increase, the second largest on the MAB in the last three years.
Learn about the main variables that define the current situation and financial performance of the Spanish biomedical company Atrys Health since its listing on the MAB in 2016. We also analyse its recent capital increase, the second largest on the MAB in the last three years.
About Atrys Health
Atrys Health is a Spanish biomedical company dedicated to the provision of diagnostic services and medical treatments, which combines precision diagnostic techniques in pathological and molecular anatomy and online diagnostic imaging.
The company was founded in 2007 by a group of physicians and cancer experts led by Dr. Carlos Cordón-Cardó, with the aim of providing a new model in the clinical management of cancer by combining advanced precision diagnostic techniques in pathological and molecular anatomy with new radiotherapy treatments.
Within the diagnostics business area, Atrys uses, in fields other than oncology, telemedicine to provide its services in the medical specialties of radiology, cardiology, ophthalmology and dermatology, using its own technological platform.
Atrys debuted on the MAB (Mercado Alternativo Bursátil) in July 2016 after closing a €4.5M share subscription offer, bringing its initial capitalisation to €16.5M. Both the capital increase and the listing were part of the company's medium and long-term growth strategy.
During the 2017 financial year, Atrys Health's share price rose by 45.3% to €2.15 per share, far outperforming the 12.49% rise in the MAB 15 index and the 7.27% rise in the Ibex 35. During the first nine months of 2017, the company has increased its turnover by 55% and its Ebitda by 149%.
Corporate Finance Analysis of Atrys Health
| Company | Description | Country | Amount | Year |
|---|---|---|---|---|
| Valencell | Valencell develops biometric performance sensor technology for wearables and hearables manufacturers, medical devices and sports and fitness brands. | USA | $11M | 2016 |
| Zen Planner | Zen Planner develops all-in-one software for fitness business management. | USA | $10M | 2013 |
| Motionsoft | Motionsoft offers management and marketing software solutions for fitness, gymnasium and recreational centre businesses. | USA | $10M | 2014 |
| Kinduct | Kinduct develops health, fitness and physical performance software solutions. | Canada | $9M | 2016 |
| PayasUgym | PayasUgym is a mobile marketplace for gyms, providing flexible pay-as-you-go access to more than 1,700 facilities in the UK. | United Kingdom | £2,6M | 2015 |
Atrys Health closes the second largest capital increase on the MAB
Atrys Health, a company dedicated to the provision of diagnostic services and medical treatments of excellence, has announced the closing of a full subscription capital increase for a total effective amount of €9.2M.
This capital increase was carried out in two tranches:
The first tranche, aimed at institutional investorsThe capital increase, which has been oversubscribed, has enabled the company to raise €7.9m and bring in Grupo CASER, Grupo Melca, Grupo Pascual and Onchena as shareholders. The amount of this first tranche is the second largest cash capital increase carried out by a company listed on the MAB in the growth companies segment in the last three years, after the one executed by MásMóvil Ibercom in August 2016.
The second tranche, amounting to €1.25m, has been made by offsetting appropriations from the current shareholders Atrys Health's reference partners, including the Inveready Group, CECU Investments and the company's management team.
Atrys Health plans to complete the above transactions with a third capital increase, to be executed later this month, amounting to €4M, with the aim of broadening its shareholder base, enabling the company to be listed on the MAB and improving the liquidity of the share for its shareholders.