Healthia Limited is a publicly listed corporation looking to grow to be one of Australia’s foremost allied health companies that offers podiatry, physiotherapy and related services. The company is listed on the Australian Stock Exchange with the sale of a $26.8 million Initial Public Offer (IPO). Healthia is the holding company that is the owner of and runs over 70 MyFootDr podiatry offices throughout Australia. Additionally, they operate the foot orthotics lab, iOrthotics and have a 50 per cent share of DBS Medical that supplies medical products. The Initial public offering proceeds were used to invest in purchasing of more podiatry practices plus some physiotherapy and hand therapy clinics. They feel that Australia’s very fragmented allied health market offers a commercial opportunity for them to offer integrated services to meet the demand for physiotherapy and podiatry solutions as the population will become older. They expect to do this by supporting clinicians reduce management worries within their practices. The vertically incorporated businesses such as iOrthotics and DBS Medical is going to be useful to drive buying synergies, and also to optimise the procedures of current businesses, generating cost savings with the increased size and improve practice administration.
One of the pioneers of MyFootDr, Greg Dower, was a guest on PodChatLive, the podiatry livestream show. He is currently the Chief Business Development Officer at MyFootDr. He is the podiatrist for the Australian cricket team and is the lead in the Elvis Presley tribute group called the Blue Cats. This reference to Elvis has received Greg plenty of attention in the business press regarding the the IPO of Healthia. In the PodChatLive live, Greg spoke with the hosts about his journey coming from being a sole practitioner to co-owning a chain of over 50 podiatry offices (which employed over 100 podiatrists) ahead of the IPO and further expansion. He discussed the extensive coaching program they have got for new graduates, and his work smarter and harder philosophy. At the conclusion of the talk greg briefly showed us round his Graceland influenced house.