Healthia Limited is a publicly listed corporation looking to grow to be among Australia’s leading allied health companies that offers podiatry, physiotherapy and related services. They are listed on the Australian Securities Exchange with the opening of a $26.8 million Initial Public Offer (IPO). Healthia is the holding corporation that owns and runs over 70 MyFootDr podiatry practices throughout Australia. Additionally they have the foot orthotics laboratory, iOrthotics and have a 50 per cent stake of DBS Medical which sells healthcare products. The IPO proceeds were used to invest in purchasing of more podiatry practices and some physiotherapy and hand therapy businesses. They think that Australia’s highly fragmented allied health industry offers a business prospects for them to provide bundled services to fulfill the demand for physiotherapy and podiatry providers as the populace becomes more aged. They want to do this by helping clinicians lessen management problems of their practices. The vertically bundled businesses including iOrthotics and DBS Medical will be used to drive buying synergies, and to optimise the operations of current businesses, making financial savings through the increased scale and enhance practice management.
One of the pioneers of MyFootDr, Greg Dower, was a guest on PodChatLive, the podiatry livestream show. He is now 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 particular relationship with Elvis has received Greg a lot of attention in the business press associated with the Initial public offering of Healthia. In the PodChatLive episode, Greg spoke with the hosts concerning his path coming from being a sole podiatrist to co-owning a chain of over 50 podiatry practices (which used over 100 podiatrists) prior to the IPO and further growth. He talked about the considerable coaching system they have for new graduates, and his work smarter and harder beliefs. At the end of the talk he briefly showed us round his Graceland influenced dining room.