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Be the first with the news that moves the market- Allied health company Healthia (HLA) is continuing its buying spree despite the COVID-19 crisis
- The company settled the purchase of 12 new podiatry clinics today, worth a total of $5 million
- This means over the 2020 financial year so far, Healthia has spent almost $18 million on acquisitions
- Importantly, the company said the coronavirus has had an “immaterial” impact on its clinics so far
- Shares in Healthia close 10 per cent higher today at 86 cents each
Despite the raging COVID-19 pandemic, allied health company Healthia (HLA) is continuing its rampaging buying spree.
The latest targets of the Healthia buying scope are 12 podiatry clinics across Melbourne and regional Victoria.
Healthia paid $5 million in total for the 12 clinics and expects that they’ll pay themselves off quickly. The company said it expects the clinics to bring in $4.425 million in revenue and $1.124 million in earnings before interest, tax, depreciation, and amortisation (EBITDA).
Interestingly, Healthia did not give a specific timeframe as to when the clinics are expected to pull in the revenue and EBITDA figures by. However, it can be assumed the company expects these on an annual basis given the predictions were based on the clinics’ performance over the 2019 calendar year.
The purchase of the 12 new clinics was settled today.
This means over the 2020 financial year, Healthia has spent a total of $17.972 million on 31 acquisitions. These acquisitions have resulted in $18.973 million in revenue and $4.221 million in EBITDA.
With today’s buy, Healthia has achieved its goal of $15 million capital spending on acquisitions over the financial year. Still, the company said it will keep looking for more buying opportunities.
Healthia CEO and Managing Director Wes Coote said the completion of today’s purchase strengthens the company’s position as the country’s biggest podiatry clinic operator.
“We are very excited to be attracting clinics of this scale and stature to the network and we look forward to continuing our acquisitive growth trajectory into the future,” Wes said.
In other good news, Healthia said it has been closely monitoring the impact COVID-19 has had on its clinics over the past two months, but so far, the virus’ impact has been “immaterial”.
Shares in Healthia close 10.04 per cent higher today at 86 cents each.
