Healthia raising $60m to buy Back in Motion’s 64 physiotherapy clinics News20 Sep 2021

ASX-listed diversified healthcare group Healthia is raising $60 million to fund the acquisition of 64 physiotherapy clinics from Back in Motion.

 

Heathia will split the raise as a $22.3 million institutional placement and a $37.8 million 1-for-4.3 accelerated entitlement offer.

 

The placement is underwritten by Shaw and Partners with Canaccord Genuity.

 

Back in Motion’s 64 clinics employ over 300 clinicians. Its revenue has grown 8% over the last 12 months, all from organic growth.

 

The acquisition will contribute $63 million in revenue to Healthia, which reported underlying revenue of $140.4 million for FY21.

 

Healthia’s allied healthcare business currently includes 54 physiotherapy clinics, 14 hand therapy clinics, 45 optometry stores, a wholesale eyewear frame distribution business, 94 podiatry clinics, 6 retail footwear stores, 2 orthotics laboratories and an allied health wholesale supplies business.

 

The Back in Motion acquisition comes on the heels of Healthia’s recent acquisitions of Rothwell Physiotherapy, which added $2.13 million to its revenue, and AllCare Physiotherapy, John Holme Optometry and Anytime Physio, which together added $3.95 million to Healthia’s revenue.

 

Article source: AFR, 20 September 2021

Related Articles
News20 May 2022 Shaw and Partners appointed as Lead Manager to the capital raising by Openpay
Shaw and Partners is pleased to be appointed as Lead Manager to the proposed capital raising by Openpay Group (ASX.OPY)   The capital raising is expected to fully fund Openpay’s AN... Read More
News19 May 2022 Erebus Motorsport visits the Shaw and Partners Melbourne office
We were thrilled to have Supercars Erebus Motorsport driver Will Brown and Managing Director Shannen Kiely visit the Shaw and Partners Melbourne office this morning.  Will went in... Read More
News16 May 2022 Shaw and Partners proud sponsor of the Melbourne Rebels Academy Squads
It was a truly remarkable night of celebration at the Melbourne Rebels Headquarters last Monday for the official launch of the Rebels Under 18 Academy Squad. As the Principal Part... Read More
News06 May 2022 Shaw and Partners hosts Pinot & Picasso evening in the Sydney office
What a fantastic evening celebrating the women of Shaw and Partners.   Great to see over 25 advisers and staff from the Shaw and Partners #Sydney office get together for a night... Read More
A - Z  % Change  
{{data.Symbol}} {{data.CompanyName}} {{data.Close}} {{data.AsAt | date :'shortTime'}} {{data.Movement | number : 2}} {{data.MovementPercent | number: 2}}%