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Healthia and the Podiatry Business in Australia

Thursday , 13, August 2020 Comments Off on Healthia and the Podiatry Business in Australia

Healthia Limited is a publicly listed organization looking to become one of Australia’s major allied health firms that provides podiatry, physiotherapy and related services. They are listed on the Australian Stock Exchange with the sale of a $26.8 million Initial Public Offer (IPO). Healthia is the holding business which is the owner of and manages 70 MyFootDr podiatry practices throughout Australia. Additionally, they own the foot orthotics laboratory, iOrthotics and have a 50 % share of DBS Medical which sells healthcare products. The IPO income were utilised to finance buying of additional podiatry practices and some physiotherapy and hand therapy clinics. They think that Australia’s highly fragmented allied health market offers a business prospects for them to offer integrated solutions in order to meet the demand for physiotherapy and podiatry solutions since the population becomes more aged. Healthia want to achieve this by helping clinicians reduce management burdens of their practices. The vertically bundled companies such as iOrthotics and DBS Medical will be useful to drive buying synergies, and also to optimise the procedures of current clinics, generating cost savings from the improved size and improve practice management.

One of the founders of MyFootDr, Greg Dower, was a guest on PodChatLive, the podiatry live show. Greg is currently the Chief Business Development Officer at MyFootDr. Greg is the podiatrist for the Australian cricket team and is also the lead in the Elvis Presley tribute group called the Blue Cats. This connection with Elvis has received Greg lots of attention in the business press associated with the Initial public offering of Healthia. In the PodChatLive show, Greg spoke with the hosts concerning his journey coming from being a sole podiatrist to co-owning a chain of over 50 podiatry offices (which used over 100 podiatrists) prior to the IPO and further growth. He talked about the extensive guidance program they have for new graduates, and the work wiser and harder viewpoint. At the conclusion of the chat he in brief showed us round his Graceland influenced dining area.