Healthia and the Podiatry Business

Healthia Limited is a publicly traded corporation planning to become among Australia’s top allied health businesses that provides podiatry, physiotherapy and related services. The company is listed on the Australian Stock Exchange with the opening of a $26.8 million Initial Public Offer (IPO). Healthia is the holding company that is the owner of and runs 70 MyFootDr podiatry businesses around Australia. Additionally they operate the foot orthotics lab, iOrthotics and also have a 50 % share of DBS Medical which supplies medical products. The Initial public offering proceeds were utilised to fund the purchase of more podiatry centers and some physiotherapy and hand therapy businesses. They think that Australia’s very fragmented allied health industry provides a business potential for them to offer integrated solutions to meet the need for physiotherapy and podiatry providers because the population will become more aged. Healthia expect to accomplish this by helping clinicians decrease management problems within their practices. The vertically integrated companies such as iOrthotics and DBS Medical is going to be used to generate buying synergies, and to optimise the procedures of existing practices, making cost savings from the increased size and advance practice operations.

One of the leaders of MyFootDr, Greg Dower, was a guest on PodChatLive, the podiatry chat show. He has become the Chief Business Development Officer at MyFootDr. Greg is the podiatrist for the Australian cricket team and is the lead in the Elvis tribute music group called the Blue Cats. This relationship with Elvis has gained Greg a great deal of attention in the business media associated with the IPO of Healthia. In the PodChatLive livestream, Greg spoke with the hosts concerning his path from being a sole podiatrist to co-owning a group of over 50 podiatry practices (which employed over 100 podiatrists) ahead of the IPO and further growth. Greg described the considerable guidance program they have for first time graduates, and the work wiser and harder philosophy. At the conclusion of the discussion he in brief showed us round his Graceland influenced dining room.