Finance
Diagnostyka Says Higher Prices to Drive 2026 Sales, but New Regulation Limits M&A Appetite
Published by Global Banking & Finance Review®
Posted on April 21, 2026
2 min readLast updated: April 21, 2026
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Quick Summary
Diagnostyka projects 2026 revenue growth in the low‑ to mid‑teens percentage range, supported by higher prices, while regulatory cuts to public reimbursement rates—especially in imaging—prompt a more cautious, selective M&A strategy.
Diagnostyka Sees Strong Revenue Growth by 2026 Amid Regulatory Headwinds
Diagnostyka's Growth Outlook and Regulatory Challenges
April 21 (Reuters) - Poland's Diagnostyka expects its revenue to grow by a low- to mid-teens percentage in 2026, driven by higher prices, the medical laboratory operator said on Tuesday.
Acquisition Strategy and Regulatory Impact
It will limit acquisitions of publicly funded imaging firms this year, as their revenues may be impacted by recent regulatory changes cutting state reimbursement rates for over-quota public procedures, CEO Jakub Swadzba said during a conference call.
Key Financial and Strategic Highlights
- Diagnostyka expects high-single-digit percentage growth in average test prices and low- to mid-single-digit growth in test volumes compared to last year
- It aims to maintain its recurring EBITDA margin near 2025 levels of 24.3%
- It plans to spend 50 million to 100 million zlotys ($14 million to $28 million) on mergers and acquisitions in 2026
Approach to Mergers & Acquisitions
Diagnostyka will approach M&A selectively, particularly in the imaging segment, due to regulatory changes, Deputy CFO Bartosz Cieslicki said
Regulatory Changes and Market Impact
- Those include a 50% reimbursement cap for services performed above contract limits with the National Health Fund (NFZ) and a cut to the rate NFZ pays for CT and MRI scans
- The regulations could have a mixed impact, with potential rate cuts expected to put pressure on public test volumes, Trigon analyst Katarzyna Kosiorek said
- However, she added this could be offset by higher demand for out-of-pocket commercial tests
Exchange Rate Information
($1 = 3.5957 zlotys)
(Reporting by Alicja Surdy and Rafal Nowak, editing by Milla Nissi-Prussak)
Key Takeaways
- •Revenue growth of low‑ to mid‑teen percentages in 2026 driven by high‑single‑digit price growth and modest volume gains
- •Recurring EBITDA margin expected to stay near 24.3%, signaling margin stability
- •Selective M&A planned (PLN 50–100m), with restrained appetite in publicly funded imaging due to NFZ reimbursement caps and rate cuts
Frequently Asked Questions about Diagnostyka says higher prices to drive 2026 sales, but new regulation limits M&A appetite
1What revenue growth does Diagnostyka expect by 2026?
Diagnostyka expects its revenue to grow by a low- to mid-teens percentage in 2026, mainly driven by increased test prices.
2Why is Diagnostyka limiting acquisitions of public imaging firms?
Diagnostyka is limiting acquisitions due to recent regulations that cut state reimbursement rates for public procedures, potentially impacting revenues.
3What are the key regulatory changes affecting Diagnostyka?
New regulations include a 50% reimbursement cap for services above contract limits with the National Health Fund and reduced payment rates for CT and MRI scans.
4How does Diagnostyka plan to approach mergers and acquisitions in 2026?
Diagnostyka plans to spend 50–100 million zlotys on selective M&A, especially cautious in the imaging segment due to regulatory changes.
5What offsetting trends are expected from the regulatory changes?
Reduced public funding may increase demand for commercial, out-of-pocket tests, potentially offsetting declines in public test volumes.
