National healthcare operator Healthia (ASX: HLA) has continued its acquisition of podiatry clinics in what market research identified as a “largely untapped market”.
In a study conducted by the company with a group of 500 Australians, less than 50% were able to accurately define what a podiatrist is, whilst less than 15% of participants had actually visited a podiatrist in the last 12 months.
“It’s a common perception for people to think we just clip toenails and provide routine foot care for the elderly, but a podiatrist actually provides a range of medical assessments, procedures and services from the knee down from toddler years onwards,” said My FootDr Podiatrist and CEO Darren Stewart
“You only get one pair of feet to keep you upright and mobile your whole life, and historically people have not given their feet a second thought until they are at crisis point and in a lot of pain.
“One area of podiatry advancing the most is the prescription and fitting of custom-made foot orthotics, paired with lifestyle appropriate footwear.
“This treatment can provide healthcare benefits to all areas of the body by improving the alignment of the feet and reducing areas of pressure that can result in injury to the tendons, joints and skin.
“The market research we conducted reaffirmed our mission to enrich people’s lives through world class healthcare which is one of the reasons we are seeing increasing demand for services across our podiatry clinic network.”
Since listing on the ASX in September 2018, Healthia has continued its expansion of allied healthcare businesses, nationally.
This includes their latest round of acquisitions comprising of 6 podiatry clinics and 3 physiotherapy clinics which are expected to deliver the company a further $1.34m of annualised earnings.
Largely acquiring these clinics using a $37 million facility agreement with ANZ and Bank of Queensland, the rising awareness around foot health care and podiatry services presents an opportune time for Healthia which has continued their national expansion
Upon settlement of their most recent round of acquisitions, the company’s portfolio will comprise of 81 podiatry clinics, 36 physiotherapy clinics and 9 hand therapy clinics, as well as iOrthotics, – Australia’s largest producer of foot orthotics.
*Owners of this website are shareholders in a company mentioned in this article and have been engaged by them to assist in investor communications
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
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