Australian allied health group Healthia has continued its expansion into the optical market with the acquisition of John Holme Optometrist, a two-store business in North Queensland.
The ASX-listed company – which entered the optical arena in December 2020 with the $43 million acquisition of The Optical Company’s 41-store business – confirmed the new acquisition on 16 August.
Mr Wesley Coote, Healthia’s managing director, said the company wanted to build the leading allied healthcare business in Australia.
Since its public listing in September 2018, he said Healthia had grown its portfolio of owned allied health businesses from 104 to 217, representing portfolio growth of 109%.
John Holme Optometrist, located in Mareeba and Malanda, is joining its Eyes and Ears division, which now comprises 45 optometry stores and a wholesale eyewear frame distribution business trading as AED.
Its other verticals include Feet and Ankles, which includes 94 podiatry clinics, six retail footwear stores (trading as Natural Fit Footwear), two orthotics laboratories (trading as iOrthotics) and an allied health wholesale supplies business (trading as D.B.S. Medical).
Healthia’s Bodies and Minds division comprises 54 physiotherapy clinics and 14 hand therapy clinics.
“Our key target sectors of Bodies and Minds, Feet and Ankles, and Eyes and Ears have a collective addressable market of $9.8 billion,” Coote said.
“We have a proven management team and a clinician and patient first culture and are excited to have these businesses joining our growing allied health network.”
Earlier this year, Healthia acquired Bernie Lanigan Optometrist, located in Townsville, Queensland, and The Eyecare Place, in Abbotsford, Victoria. The total consideration for these two acquisitions (plus stock, less employee entitlements) was $620,000, with the practices expected to generate $1.4 million in revenue.
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