Press release

Atrys grew by 6.3% and increased its EBITDA by 15.4% in the first quarter of 2026

21 May 2026
  • The strong growth in EBITDA is driven by performance across the main business areas, with notable growth in Oncology (+47.6%), Nuclear Medicine (+27.7%), and Diagnostic Imaging (+14.1%)
  • Net financial debt decreased by 81.1% compared to December 2025, following the sale of ASPY, resulting in savings of 2.4 million in financial expenses
  • Atrys maintains its guidance for 2026 and is strengthening its organizational structure to promote management discipline and improve the group’s profitability

Atrys Health, a medical company specializing in oncology, telediagnostics, pathological anatomy, and nuclear medicine, reported revenue of 37.5 million euros in the first quarter of 2026, representing a 6.3% increase compared to the same period last year. This performance is driven by the favorable performance of the main business areas and regions, consolidating the group’s strong performance in strategic markets. EBITDA for the period amounted to €4.1 million, 15.4% higher than in the same period of the previous year, supported by improvements across the various business areas, with notable growth in Oncology (+47.6%), Nuclear Medicine (+27.7%), and Diagnostic Imaging (+14.1%), driven primarily by the Mexican and Portuguese markets, which increased their contribution by 6.2x and 14.5x, respectively.

Operating cash flow increased by 55.5% to €3.3 million, driven by growth in EBITDA and a significant reduction in CAPEX. Specifically, CAPEX fell by 44.7% to €0.8 million, in line with the policy of investment discipline and financial optimization established for the 2026 fiscal year.

For its part, the company managed to reduce its net financial debt by 81.1% since December 2025, following the divestiture of ASPY (the Prevention division). This transaction enabled the full repayment of the TLB loan, amounting to over 140 million euros, generating savings of 2.4 million euros in financial expenses during the first quarter of 2026. As a result, Atrys has significantly strengthened its capital structure and improved its financial efficiency, consolidating a more solid position to tackle its next phase of growth.

Furthermore, in 2026 the company implemented a new geographic organizational model aimed at strengthening management discipline, operational efficiency, and the group’s growth capacity.

Marian Isach, CEO of Atrys Health, stated that “Our first-quarter results show that our strategy of focus and management discipline is paying off, as confirmed by the company’s financial indicators. We are entering 2026 with a stronger balance sheet, a reinforced organization, and a clear roadmap for achieving sustainable growth in the coming years.”

Atrys maintains its guidance for 2026, which calls for 11% revenue growth, a 40% increase in reported EBITDA, and operating cash flow of €13.5 million, representing a 125% increase over the previous year.

Spain: Growth in Oncology and Teleradiology

By business line, Teleradiology stands as the main driver of value creation in the Spanish market, after recording a 20.6% increase compared to the same period last year. Meanwhile, the Oncology division continues to perform well, with a 6.8% increase, particularly in Radiation Oncology, which grew by 22.1%.

During the quarter, the company continued to strengthen its capabilities in Nuclear Medicine and its position in high-precision cancer diagnostics by incorporating state-of-the-art digital PET technology at its SIMM center in Barcelona. It also expanded its pediatric theragnosis activities at Sant Joan de Déu Hospital, consolidating its expertise in this field.

Portugal: Long-Term Growth and Visibility

Revenue in the Portuguese market reached 4.3 million euros, driven by the Nuclear Medicine segment, which grew by 13.9%, as well as by the strong performance of the Oncology segment, which saw a 23.1% increase.

These advances are reinforced by the award of a five-year public tender for Radiotherapy in Évora. This contract will strengthen Atrys’ position as a leading operator in Portugal, providing the business with greater long-term revenue visibility.

Mexico: Steady Expansion in Medical Oncology

Mexico remains a highly dynamic market for Atrys, with revenue growth of 128.8% in the first quarter. This strong performance is driven by growth in the oncology sector, positioning the country as one of the group’s main growth drivers.

During the period, Atrys launched a new oncology infusion center, bringing the total number of operational centers to five and consolidating its oncology care network in the country. This expansion reinforces the company’s leadership position, and it will continue to drive new growth opportunities in the region in the coming quarters.