A healthier Australia, backed by BOQ
How do you turn 11 podiatry clinics into nearly 150 allied health businesses? For Healthia, it started with a call to BOQ. With the support of BOQ Business, Healthia have set up a $10 million facility, acquired a network of small businesses and successfully listed on the ASX – all within the space of just two years.
When Healthia first contacted BOQ the business consisted of 11 Queensland-based podiatry clinics operating under the My FootDr brand. Initially, their plan was to scale the business through acquiring more podiatry clinics, but over time the opportunity to bring other specialist healthcare modalities into the fold become obvious.
With a vision to become Australia’s leading integrated allied healthcare organisation, Healthia’s strategy was to bring together a collective of well-established and trusted physiotherapy and podiatry clinics – but they needed the financial backing to get there. That’s where BOQ stepped in to help.
A partnership for growth
Since initially providing a $10 million loan facility to support their early acquisition trail, BOQ has been an integral partner in Healthia’s expansion.
With specialist expertise in corporate health finance, the BOQ Business team had the experience needed to understand Healthia’s business and provide tailored banking and finance solutions to support their growth strategy.
“Our expertise in structuring facilities has helped Healthia achieve the optimal mix of debt and equity to build their business. We’ve also partnered with them through the challenges of expansion and how to integrate the businesses they’ve acquired into their corporate structure and culture,” said BOQ’s Queensland Head of Corporate Banking and Property, Simon Davis.
After listing on the ASX in 2018, Healthia has grown from a collection of small local clinics to become Australia’s largest allied health company with an integrated portfolio of more than 150 businesses operating under brands including My FootDr, iOrthotics, DBS Medical Supplies and Allsports Physiotherapy.
“BOQ has been with us from early in the journey and we consider them a true partner in our continued growth and success. Not only have they provided support and expertise from a corporate banking perspective, but they have also provided a point of difference in offering tailored solutions to our clinicians via BOQ Specialist,” said Wes Coote, Chief Executive Officer and Managing Director at Healthia.
According to Simon, Healthia’s journey to a listed entity with a national presence has been the result of their ability to move quickly on acquisition negotiations, retain key personnel and successfully integrate those businesses from a back office and culture point-of-view.
“Our ability to be nimble and agile enough to support them, but big enough to provide the funding they needed was important,” Simon said.
BOQ has been with us from early in the journey and we consider them a true partner in our continued growth and success. Not only have they provided support and expertise from a corporate banking perspective, but they have also provided a point of difference in offering tailored solutions to our clinicians via BOQ Specialist."