Health and Fitness

Business Advice for Health Professionals

Healthia Limited is a publicly listed company looking to grow to be among Australia’s leading allied health firms that offers 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 corporation that owns and runs 70 MyFootDr podiatry practices around Australia. Additionally, they own the foot orthotics lab, iOrthotics and have a 50 per cent stake of DBS Medical which supplies medical products. The Initial public offering income were utilised to finance buying of more podiatry centers plus some physiotherapy and hand therapy practices. They think that Australia’s highly fragmented allied health market provides a commercial potential for them to supply integrated solutions in order to meet the demand for physiotherapy and podiatry providers because the populace will become more aged. Healthia want to achieve this by helping clinicians decrease administrative worries of their practices. The vertically incorporated businesses such as iOrthotics and DBS Medical is going to be useful to drive purchasing synergies, and also to optimise the operations of current businesses, generating financial savings with the improved size and enhance practice management.

One of the leaders of MyFootDr, Greg Dower, was a guest on PodChatLive, the podiatry livestream show. Greg is now 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 band called the Blue Cats. This relationship with Elvis has gained Greg plenty of attention in the business press associated with the IPO of Healthia. In the PodChatLive episode, Greg talked to the hosts concerning his journey coming from being a sole practitioner to co-owning a group of over 50 podiatry offices (which employed over 100 podiatrists) ahead of the IPO and further expansion. He discussed the extensive mentoring programme they've got for first time graduates, and his work wiser and harder philosophy. At the end of the discussion greg quickly showed us round his Graceland influenced lounge.