In their first year of operation since consolidating the various allied healthcare businesses together, Healthia performed well at an operational level to deliver sound financial returns through FY19.
Whilst operational expenses exceeded forecasts in the Company’s first year, the majority are attributed to oneoff expenses associated with integration of clinics into the Healthia network, heightened by the fragmentation of physio and podiatry clinics.
In line with their integration into Healthia’s consolidated group, Healthia is well positioned to realise the earnings associated with vertical integration of its 133 clinics in FY20.
The company will continue growing its network of clinics through the $24m underdrawn facility which is expected to be deployed at 4x EBITDA multiples with improving margins highlighted by experience of clinic integrations and the international expansion of iOrthotics.
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