European Growth Leaders 2026

Annual ranking data providerLSEG WorkspaceUsed with permission · acknowledgements

An independent academic observatory making Europe’s listed growth companies visible.

Francesco Castellaneta, Full Professor of Strategy, SKEMA Business School · Scientific Committee Diego Zunino and Jackie Krafft

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Annual rank82

Spain · Healthcare

Clinica Baviera

Ophthalmology-clinic network providing diagnosis, refractive and cataract procedures, specialist treatments and follow-up care for visual disorders.

+52%revenue growth
FY2022–FY2025
+43%net-income growth
FY2022–FY2025
+225%stock return
FY2022–FY2025
+18%2026 stock return
current context only

Company profile

Eye-care pathways, country brands and a shared clinical platform

Clinica Baviera is a listed specialist eye-care group that operated 148 clinics across Spain, Germany, Austria, Italy and the United Kingdom at year-end 2025. Local brands—Baviera, CARE Vision and Optimax—combine laser refractive surgery, intraocular-lens procedures and broader ophthalmology. The network uses smaller consultation and follow-up sites alongside surgical clinics that share equipment, staff and management, supported by doctor training, common protocols and brand-level research.

Laser and lens procedures

One specialist network, several routes beyond glasses

Across the group, corneal-laser options include LASIK, LASEK and Trans-PRK, while lens routes include phakic ICLs and multifocal or monofocal replacements for higher prescriptions, presbyopia and cataracts. Assessment maps prescription, corneal anatomy and eye health before a clinician recommends a route; the offer is specialist surgery, not a single standard product.

Brands and geography

Three patient-facing names across five countries

At year-end 2025 the group reported 87 clinics in Spain, 32 across Germany and Austria, 19 in the United Kingdom and 10 in Italy. Baviera anchors Spain and Italy, CARE Vision serves German-speaking markets, and Optimax adds a British network. Country brands preserve local access and regulatory practice while belonging to one ophthalmology platform.

Medical quality and learning

Protocols travel with research, training and named doctors

CARE Vision's R&D team reviews techniques for common protocols, supported by a central medical committee, a European Medical Advisory Board and cooperation with Hamburg-Eppendorf. The wider group uses Baviera Academy, mentoring and competency checks; Optimax publishes its surgeons and treatment technology so readers can inspect the clinical teams and equipment behind the brand.

Network organisation

Assessment sites feed shared surgical capacity

The group distinguishes satellite clinics—patient acquisition, pre-operative assessment and follow-up—from surgical clinics with specialised equipment. Management units share people, assets and operational leadership across nearby sites; local contact centres use common scheduling and quality controls. Optimax's founder was also its first patient, an unusual origin for a treatment concept that later became part of a multi-country platform.

Current 2026 update

What has changed in 2026?

Q1 2026 · 27 May 2026

Q1 2026latest official update
4company-specific highlights
+18%2026 stock return · context only

Revenue

Q1 revenue increased 8.4% to EUR 87.0 million.

Q1 2026 · EUR 87.0m · +8.4%

EBITDA

Q1 EBITDA increased 9.2% to EUR 26.4 million.

Q1 2026 · EUR 26.4m · +9.2%

Profit

Q1 net result increased 14.2% to EUR 14.7 million.

Q1 2026 · EUR 14.7m · +14.2%

Germany EBITDA

Germany EBITDA declined 6.4% to EUR 4.9 million, offsetting part of the group increase.

Q1 2026 · EUR 4.9m · -6.4%

Annual record

Ranking history

Future editions add rows; they do not rewrite the 2026 record.

EditionMeasurement periodRankRevenue growthNet-income growthStock return
2026FY2022–FY202582+52%+43%+225%