Healthia Limited is a publicly listed company hoping to become one of 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 company that owns and runs 70 MyFootDr podiatry clinics around Australia. They also own the foot orthotics laboratory, iOrthotics and have a 50 per cent share of DBS Medical that supplies medical products. The IPO proceeds were used to fund the acquisition of more podiatry clinics and some physiotherapy and hand therapy businesses. They believe that Australia’s highly fragmented allied health industry offers a commercial opportunity for them to provide integrated services to meet the demand for physiotherapy and podiatry services as the population becomes older. They hope to do this by helping clinicians reduce administrative burdens within their practices. The vertically integrated businesses such as iOrthotics and DBS Medical will be used to drive buying synergies, and to optimise the operations of existing clinics, generating cost savings through the increased scale and improve practice management.
One of the founders of MyFootDr, Greg Dower, was a guest on PodChatLive, the podiatry livestream show. Greg is now the Chief Business Development Officer at MyFootDr. He is the podiatrist for the Australian cricket team and is the lead in the Elvis tribute band called the Blue Cats. This connection with Elvis has gained Greg a lot of attention in the business media in connection with the IPO of Healthia. In the PodChatLive episode, Greg talked to the hosts about his journey from being a sole practitioner to co-owning a chain of over 50 podiatry clinics (which employed over 100 podiatrists) prior to the IPO and further expansion. He talked about the extensive mentoring programme they have for new graduates, and his work smarter and harder philosophy. At the end of the discussion he briefly showed us round his Graceland inspired dining room.