Medicalgorithmics S.A. has opened discussions with a potential strategic investor, a major Asian-listed business specialising in cardiology. The Warsaw-listed medtech company plans to ask shareholders to approve two share issues, one directed at the prospective investor and another offering pre-emptive rights to existing shareholders.
Two issues with different terms
The proposed Series S issue would comprise up to one million shares, excluding pre-emptive rights, at a price of not less than PLN 33 per share. The second, Series R, would also cover up to one million shares but would preserve existing shareholders’ pre-emptive rights and be priced at PLN 20 per share. Both plans require approval by an extraordinary general meeting; the proposed transaction is not yet completed.
Chief executive Dr Kris Siemionow said the Asian industry player was interested in acquiring a significant holding and that the transaction could become the initial stage of a broader strategic investment.
Q3 revenue rises 52%
According to preliminary figures, Medicalgorithmics recorded consolidated third-quarter sales of PLN 10.9 million, up 52% year on year, and EBITDA of PLN 1.6 million, 9% higher than in Q2. US revenue doubled, rising 102% to PLN 4.4 million.
US contracts extended
In August, the company extended an agreement with its largest customer, described as the fifth-largest independent diagnostic testing facility in the United States, until 15 July 2028, on improved commercial terms. Medicalgorithmics also signed a three-year agreement with a US technology company whose remote cardiac-monitoring platform serves more than 300 clinical facilities.
Source: Medicalgorithmics S.A., corporate announcement and preliminary Q3 2026 data. Original Polish article.
