Business Advice for Podiatrists

Healthia Limited is a publicly listed business seeking to turn out to be one of Australia’s top allied health companies which provides podiatry, physiotherapy and related products. They are listed on the Australian Stock Exchange with the sale of a $26.8 million Initial Public Offer (IPO). Healthia is the holding corporation that owns and runs over 70 MyFootDr podiatry clinics throughout Australia. Additionally they have the foot orthotics laboratory, iOrthotics and have a 50 per cent stake of DBS Medical which sells medical products. The Initial public offering income were put to use to fund buying of more podiatry practices plus some physiotherapy and hand therapy practices. They feel that Australia’s highly fragmented allied health market offers a business potential for them to supply integrated solutions in order to meet the need for physiotherapy and podiatry solutions as the population becomes older. They hope to achieve this by supporting clinicians minimize management burdens of their practices. The vertically incorporated companies such as iOrthotics and DBS Medical is going to be used to push buying synergies, and to optimise the functions of current centers, making financial savings through the increased size and improve practice management.

One of the founders of MyFootDr, Greg Dower, was a guest on PodChatLive, the podiatry chat show. Greg is now the Chief Business Development Officer at MyFootDr. Greg is the podiatrist for the Australian cricket team and is the lead in the Elvis Presley tribute band called the Blue Cats. This particular reference to Elvis has gained Greg plenty of attention in the business press in connection with the IPO of Healthia. In the PodChatLive live, Greg spoke with the hosts about his journey from being a sole podiatrist to co-owning a chain of over 50 podiatry practices (which used over 100 podiatrists) ahead of the IPO and further expansion. Greg talked about the extensive mentoring program they have for new graduates, and the work smarter and harder beliefs. At the end of the talk he in brief showed us round his Graceland influenced lounge.