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Healthia Limited to acquire Back in Motion
Clayton Utz has advised Healthia Limited on its agreement to acquire Back in Motion Health Group.
Emma Musgrave
Firms: Clayton Utz (Healthia Limited); Undisclosed (Back in Motion Health Group).
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Deal: Healthia Limited (Healthia) has entered an agreement to acquire Back in Motion Health Group (Back in Motion).
Value: $88 million.
Area: M&A.
Key players: The Clayton Utz team was led by corporate partner Stephanie Daveson and included senior associate Laura van Stekelenburg and lawyer Shaun Chng.
Deal significance: Healthia is an ASX-listed business while Back in Motion is one of Australia and New Zealand’s fastest-growing physiotherapy groups.
Healthia’s acquisition of Back in Motion will position it as the number one provider of physiotherapy services in Australia, with 122 physiotherapy clinics in its Bodies and Minds division, a statement from Clayton Utz said.
“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 DBS Medical Supplies, and spearheads its expansion into the New Zealand market,” the firm’s statement added.
Commenting on the transaction, lead partner Stephanie Daveson said: “It is a privilege to be chosen by Healthia to work on a deal which is strategically significant for them and represents another significant milestone in the realisation of its growth ambitions”.
“Our team advised Healthia back in 2018 on its ASX listing and IPO and its expansion into optical services through the acquisition of The Optical Company, and we’re pleased to see the company continue its successful expansion.”
