- Healthia (HLA) has announced the acquisition of three separate businesses which are expected to contribute to annualised underlying revenue
- The acquisitions are expected to contribute $9.52 million to annualised underlying revenue and $1.9 million to underlying earnings before interest, taxes, depreciation and amortization (EBIDTA)
- Healthia will pay an upfront cash consideration of $7.67 million for the acquisitions, alongside an issue of $930,000 clinic class shares
- Healthia also announces that settlement for the acquisition of PhysioWorks, a group of five physiotherapy businesses located in Southeast Queensland has been reached
- Shares in Healthia were down 0.45 per cent to $2.20
Healthia (HLA) has announced the acquisition of three separate businesses which are expected to contribute to annualised underlying revenue.
The group is acquiring LensPro Optometrists, an independent optometry business that has eight stores in Southeast Queensland.
Also acquired is Hervey Bay Physio & Allied Health, a physiotherapy business located in Hervey Bay, Queensland and Mornington Peninsula Family Physiotherapy, a physiotherapy clinic located in Mornington Peninsula, Victoria.
It is expected that all conditions precedent will be satisfied and a settlement reached for LensPro Optometrists on or before February 28 2022.
The acquisitions are expected to contribute $9.52 million to annualised underlying revenue and $1.9 million to underlying earnings before interest, taxes, depreciation and amortization (EBIDTA).
Healthia will pay an upfront cash consideration of $7.67 million for the acquisitions, alongside an issue of $930,000 clinic class shares.
In addition to the upfront consideration, contingent consideration of up to $460,000 may become payable as cash consideration, subject to the achievement of pre-defined conditions.
The acquisitions will be funded through existing cash reserves and the company’s finance facility with ANZ (ANZ), NAB (NAB) and BOQ (BOQ).
Healthia also announces that settlement for the acquisition of PhysioWorks, a group of five physiotherapy businesses located in Southeast Queensland has been reached.
The acquisition of PhysioWorks is expected to contribute the following annualised underlying revenue of $3.05 million and an underlying EBIDTA of $500,000.
Shares in Healthia were down 0.45 per cent to $2.20 at 1:00 pm AEDT.