Health and Fitness

Business Advice for Podiatrists

Healthia Limited is a publicly listed corporation aiming to turn out to be among Australia’s top allied health businesses that provides 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 which owns and runs 70 MyFootDr podiatry businesses around Australia. Additionally they operate the foot orthotics laboratory, iOrthotics and have a 50 per cent share of DBS Medical that supplies healthcare products. The IPO proceeds were utilised to finance the acquisition of additional podiatry clinics plus some physiotherapy and hand therapy clinics. They feel that Australia’s very fragmented allied health industry offers a commercial opportunity for them to supply integrated services in order to meet the demand for physiotherapy and podiatry services as the populace becomes more aged. They aspire to accomplish this by supporting clinicians minimize administrative burdens within their practices. The vertically integrated firms such as iOrthotics and DBS Medical will be used to push purchasing synergies, and also to enhance the procedures of existing clinics, creating cost savings through the improved scale and enhance practice management.

One of the leaders of MyFootDr, Greg Dower, was a guest on PodChatLive, the podiatry live show. Greg has become the Chief Business Development Officer at MyFootDr. He is the podiatrist for the Australian cricket team and is also the lead in the Elvis Presley tribute group called the Blue Cats. This particular relationship with Elvis has gained Greg a lot of interest in the business press associated with the Initial public offering of Healthia. In the PodChatLive live, Greg spoke with the hosts about his path coming from being a sole podiatrist to co-owning a group of over 50 podiatry businesses (which employed over 100 podiatrists) ahead of the IPO and further expansion. He described the considerable mentoring program they have got for first time graduates, and his work wiser and harder philosophy. At the conclusion of the discussion greg in brief showed us round his Graceland influenced lounge.

Doug Parks