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ATRYS HEALTH integrates Llebalust Pathology in its Group

October 19, 2018

ATRYS (ATRY), a company listed on the MAB and included in the IBEX® MAB-15 index, dedicated to the provision of diagnostic services and medical treatments of excellence, today closed the acquisition of a significant participation in Llebalust Pathology, S.L. ("LLEBALUST"), one of the main independent operators of Pathology in Spain.

In this way, Atrys consolidates a turnover of 3.8 million euros and 920 thousand euros of Ebitda, incorporating into the balance sheet of the Group a company without financial indebtedness.


The transaction represents a significant step in the consolidation of the Group's Personalized Oncology Diagnostics division and positions ATRYS as the leading independent operator in the pathology diagnostic market in Spain, reinforcing the competitive differential of its offer in the provision of healthcare services. Pathological anatomy to health groups.

This is the second transaction carried out by ATRYS in the framework of its inorganic growth plan, financed by the capital increase carried out last February. In July, ATRYS already acquired ITH, one of the largest Spanish tele-cardiology operators.

"With this union, ATRYS meets one of its main challenges of 2018: to be the first independent operator of pathology diagnosis in Spain. In addition, it reinforces our objective of offering a quality diagnosis in the shortest period of time, key to being able to carry out an accurate and personalized treatment ", explained Santiago de Torres, president of ATRYS HEALTH.

The integration of the Oncological Diagnosis teams of LLEBALUST and ATRYS will form a multidisciplinary team of pathologists, hematologists and biologists with extensive experience in oncological diagnosis and molecular pathology.

LLEBALUST is a company with 27 years of history that has pathology laboratories and a wide portfolio of clients, among which are outstanding hospital groups and the main health insurers.

Dr. Carles Llebaria, founder and head of LLEBALUST, will continue to be involved in the management of LLEBALUST until now and will join the ATRYS team as Vice President of Pathology with the aim of leading the management of this area and promoting its expansion.

Payment of the transaction will be made through a combination of cash and newly issued shares of ATRYS. Likewise, the transaction is completed with a 1-year deferred payment ("Earn-Out") conditioned to the evolution of LLEBALUST's turnover.

With this operation ATRYS consolidates its organic and inorganic growth that will be reinforced in the future with new acquisitions.