With a range of allied healthcare services offered by Healthia (ASX: HLA), the national operator is making it more convenient than ever for Aussies to look after themselves with the launch of a new superclinic in Bundaberg, Queensland offering a variety of health services under one roof.
The multidisciplinary clinic, which was built from scratch by Healthia as a greenfield site, offers a range of their services including physiotherapy, clinical Pilates, exercise physiology, podiatry, occupational therapy, speech pathology and remedial massage.
“This is just one example of how Healthia’s clinic integration strategies can maximise floorspace within clinics to deliver better patient outcomes while providing convenience and cross-referral opportunities,” said Healthia CEO, Wesley Coote in an email to shareholders.
The clinic is part of Healthia’s overarching structure which has three divisions – Feet and Ankles, Body and Minds, and Eyes and Ears – where Healthia optimises floorspace and shared resources by expanding their clinics to offer additional services.
Since listing on the ASX in September 2018, this strategy was evidenced by Healtha’s addition of podiatry clinics into retail footwear stores as part of their Feet and Ankles division. More recently, they have furthered this by expanding the services of their physiotherapy clinics. These service increases have been key to Healthia’s recent market update where they reported 14.5% increase in organic growth across their Group which will also be accompanied by at least an 86% increase in underlying EBITDA to $10.7m for the half-year ending 31 December 2020.
Notably, those earnings expectations will not include the full integration of The Optical Company which Healthia settled on 30 November 2020, adding 41 clinics and a frames distribution business while expanding Healthia’s allied healthcare services into optometry and audiology.
At this stage, no optometry clinics have been introduced to Healthia’s podiatry or physiotherapy clinics but with the launch of their Bundaberg superclinic, there may be opportunities in the future.
Alongside the launch of their new site in Queensland, Healthia also announced the acquisition of Sandringham Sports Physio in Victoria for $1.54m. The clinic is expected to contribute $1.76m revenue and $0.32m EBITDA to Healthia annually from physiotherapy, myotherapy, podiatry and Pilates.
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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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