Atrys: a multinational created in five years (breakfast with its Founder: Santiago de Torres)
On January 25, 2022, a breakfast was held at the Roland Berger headquarters in Madrid with Santiago de Torres, Founder and President of Atrys.
What follows is a brief summary of the story of the creation, development and future prospects of this company. It is nothing more than a summary of the rich exposition of its Founder.
What does the company do
Advanced medical diagnosis in the broadest sense: radiology, teleradiology, genetics, molecular diagnosis, Pathology, etc. All this oriented both to prevention and precision medicine, using the most varied tools: Big data, artificial intelligence, …
Ultimately, it is a matter of putting as many surnames as possible to the medical process, be it cancer or another disease, in order to select the most appropriate treatment for the characteristics of the pathology and the patient.
Big emphasis on data
Atrys performs 6 million medical acts per year. From the information generated by these data, Atrys has developed its own data company (Smart Data), with the idea that all this information can be used by pharmaceutical companies and other health companies.
Customers
They are both private and public. In general, 75% of income comes from private clients (hospital groups, etc.) and 25% from public clients.
How it has grown
Atrys has been developed based on organic and inorganic growth
To show the speed of its growth, when Atrys went on the MAB (now BME Growth) it had a turnover of 4.5 million euros and an EBIDTA of 1 million euros. At the present time (about to go on the continuous market) its capitalization is 600 million and its EBIDTA is 40 million.
In this period they have gone from 45 employees in 2016 to 2,300 today.
Joint initiatives with renowned partners
Atrys has a nuclear medicine center with Sanitas in Barcelona (another one will be opened soon in Madrid); the creation of a pediatric oncology center is underway in Sant Joan de Déu in Barcelona, in which Atrys will perform nuclear medicine; as well as with the Champalimaud Foundation, in Portugal; and with BUPA in Chile, among others.
Presence in 7 countries
Atrys has a presence in 7 countries: Spain, Chile, Colombia, Brazil, Peru, Portugal and Switzerland. The presence in Switzerland responds to give confidence to investors in terms of operating in a solid triple A country.
Company integration process
Regarding inorganic growth, Atrys has integrated 14 companies. Atrys approach is always to acquire 100%.
Very balanced shareholding
Shareholder management has been an important part of Atrys’ success.
At this time it has two mutuals (Mutua Madrileña and CASER), which together have around 10%; 2 funds; 2 family offices (with 5% each); and management has 12%. 30% in floating shares.
Continuous market release
Soon (February 9, 22), Atrys will go on the continuous market, after more than arduous negotiations and compliance with the requirements of the CNMV.
Governance has been adapted and is highly thought of in the continuous market, for example Josep Piqué is an independent director and is the Chairman of the Audit Committee.
This whole process of relations with the CNMV slowed down inorganic growth a bit, in order not to alter the picture during the process, but it already has more than 10 companies in the pipeline and its approach is to go from being in 7 countries in a short time to be in 10, being the last three to be incorporated from the environment of the European Union.
Keys to success
According to its Founder, there have been basically three keys to success:
- Do what they do well (be it radiology, genetics, molecular diagnostics, pathology, data analysis, etc.)
- Take care of relations with investors and the type of investors in the company
- Manage the equity/debt ratio very well
End goal
For Atrys, in the words of its Founder, what they want is to set up a large diagnostic company, with a presence in many countries.
