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
News14 Oct 2021 Shaw and Partners appoints LAB Group to automate digital onboarding for its clients and financial planners
Shaw and Partners has successfully implemented LAB Group’s white labelled client onboarding solution, LABform, empowering financial advisers and desk assistants to seamlessly origi... Read More
News11 Oct 2021 Packform valued at $150m in pre-IPO round handled by Shaw and Partners
It’s full steam ahead for online packaging marketplace Packform, which has secured its $25 million pre-IPO raising at a $150 million valuation.   Founded by serial entrepreneur P... Read More
News08 Oct 2021 Former GE team raises funds for fintech MitchCap
A bunch of former GE Capital executives is poised to complete a $7.5 million pre-IPO funding round for their specialist distribution financier, MitchCap.   Having left GE when it... Read More
News06 Oct 2021 Shaw and Partners appointed as Joint-Lead Manager to the Regal Investment Fund capital raising
Shaw and Partners is delighted to be appointed as Joint-Lead Manager to the capital raising announced by Regal Investment Fund (ASX.RF1).   The equity raising comprises a Placeme... Read More
A - Z  % Change  
{{data.Symbol}} {{data.CompanyName}} {{data.Close}} {{data.AsAt | date :'shortTime'}} {{data.Movement | number : 2}} {{data.MovementPercent | number: 2}}%