Sign up Australia
Proactive Investors - Run By Investors For Investors

Healthia launches $26.8 million IPO to fund podiatry and physiotherapy acquisitions

Podiatry is a branch of medicine devoted to the treatment of the foot and ankle.
Podiatry treatment
Healthia is expected to start trading on the ASX on September 11, 2018

Healthia Ltd (ASX:HLA) is seeking to consolidate two highly fragmented health sectors, physiotherapy and podiatry, to meet the growing demand for these services from an ageing and increasingly health-conscious population.

The company, which already owns and operates podiatry clinics and an orthotics laboratory, has opened a $26.8 million initial public offer (IPO) to list on the ASX.

Healthia intends to use the IPO proceeds to fund the acquisition of additional podiatry, physiotherapy and hand therapy businesses.

Aiming to introduce podiatry services into physiotherapy clinics

Following completion of the acquisitions, the group will operate 72 podiatry clinics, 23 physiotherapy clinics, seven hand therapy clinics and the orthotics laboratory iOrthotics.

Healthia also intends to introduce podiatry services into physiotherapy clinics where these services do not already exist.

According to IBISWorld industry data, the Australian podiatry sector generated a revenue of $900 million in 2017 and the physiotherapy sector $1.7 billion.

Healthia chairman Dr Glen Richards, who is also co-founder of the Greencross veterinary and pet care group, and a judge on Channel Ten’s Shark Tank program, said Healthia can become a leading allied health provider.

Indicative market capitalisation of about $63 million

Healthia is offering about 26.8 million ordinary shares at $1 per share. The IPO is fully underwritten by Canaccord Genuity.

The company’s indicative market capitalisation upon listing on the ASX is about $63 million.

View full HLA profile View Profile

Healthia Ltd Timeline

Related Articles

car-t cells definition
September 24 2018
The phase I clinical study will evaluate the safety of MaxCyte's MCY-M11 chimeric antigen receptor in people with relapsed or difficult-to-treat ovarian cancer and peritoneal mesothelioma
June 05 2018
While tricky, the last year has seen Abzena increase its customer engagement with its integrated discovery, development and manufacturing service offering
Collagen testing
August 17 2018
Since reporting its full-year results on July 10, the AIM-listed shares have rallied over 38% in the past month to 3.65p currently, taking year-to-date gains to a third

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use