Clayton Utz advised Healthia Limited on the deal.
Healthia Limited (Healthia, ASX: HLA) agreed to acquire Back in Motion Health Group (Back in Motion), a deal valued at around A$88 million.
The transaction will be funded through a $60 million capital raising.
Healthia will contemporaneously acquire Back in Motion’s 64 physiotherapy clinics, adding to Healthia’s extensive portfolio of businesses which includes My FootDr, Allsports Physiotherapy, Extend Rehabilitation, iOrthotics and D.B.S. Medical Supplies, and spearheads its expansion into the New Zealand market.
The acquisition of Back in Motion – one of the largest and fastest growing physiotherapy businesses in Australia and New Zealand – will position Healthia as the number one provider of physiotherapy services in Australia, with 122 physiotherapy clinics in its Bodies and Minds division.
Healthia Limited is an integrated allied healthcare organisation which includes networks of optometry, podiatry, and physiotherapy clinics.
Back in Motion Health Group delivers flexible and accessible health and employment services that recognize and celebrate the uniqueness of each individual.
The Clayton Utz team was led by Corporate partner Stephanie Daveson (Picture), assisted by senior associate Laura van Stekelenburg and lawyer Shaun Chng.
Law Firms: Clayton Utz;
Clients: Healthia Limited;