Affidea

Affidea is benefiting from the sector’s long-term structural tailwinds and its solid fundamentals and positioning:

• Large and growing market (e.g., ageing population and increasing focus on preventive medicine)
• Resilience through economic cycles, given the critical nature of the services and market undersupply
• Barriers to entry from: (i) sticky long-term contracts, (ii) high capital requirements, (iii) complex regulations and license requirements and (iv) radiologist shortages

In addition, the fragmented European market offers M&A opportunities, both in countries where Affidea is present and beyond.

Affidea is well positioned to win:

• Diversification across geographies, payors (e.g., public and private),
  services and regulations
• Over-indexed to attractive complex modalities with higher growth
• Strong financial profile, with ongoing organic growth and solid M&A track record
• Margin improvement potential (e.g., best practice sharing, higher medical productivity by reducing doctors’ administrative burden)
• Attractive additional opportunities from artificial intelligence and teleradiology

Affidea has earned a reputation for clinical excellence, with a focus on quality care, as:

• Europe’s most awarded diagnostic imaging provider
• A partner of choice for doctors, patients and payors
• A developer of new technologies with OEMs (“original equipment manufacturers”)

Over the past year, the Board and management have been strengthened with additional high-caliber appointments.