- Healthia has entered binding agreements to acquire four hand therapy clinics in Sydney, NSW
- The company purchased the hand therapy clinics for $3.5 million
- The clinics are expected to bring in a revenue of $2.7 million
Healthia has entered binding agreements to acquire four hand therapy clinics in Sydney, NSW.
The company acquired the hand therapy clinics for $3.5 million.
The clinics will be funded by the company utilising the undrawn debt available under the facility agreement with ANZ and BOQ.
Healthia is an integrated group of health based companies whose mission is to enrich lives of people through world-class health services.
The group includes My FootDr, Allsports Physiotherapy, Extend Rehabilitation, iOrthotics and D.B.S. Medical Supplies.
The company is currently Australasia’s (Australia, New Zealand and neighbouring islands) leading allied health group.
CEO of the company’s physiotherapy branch Tony Ganter is happy with the acquisition.
“The four speciality hand therapy clinics, which provide physiotherapy and occupational therapy for the hand and upper limb, complement our existing nine Extend Hand Therapy clinics in Queensland,” he said.
Hand Therapy is evaluating and treating injuries and conditions in the shoulder, arm, elbow, forearm, wrist and hand.
The clinics are expected to bring in a revenue of $2.7 million.
“We are pleased that we are able to expand these speciality services across the group,” Tony said.
Healthia’s share price has increased 2.37 per cent today and is currently selling shares at $1.08 per share.