Industry News
Healthia Limited To Acquire LensPro Optometrists
Australian Stock Exchange listed company Healthia Limited (ASX:HLA) has entered into a binding agreement to acquire LensPro Optometrists on December 24, 2021. LensPro Optometrists is an independent optometry business in South-East Queensland that owns 6 stores.
In related transactions, Healthia entered into binding agreements to acquire Hervey Bay Physio & Allied Health and Mornington Peninsula Family Physiotherapy. Healthia will pay combined consideration of AUD 9.06 million in which upfront considerations is AUD 7.67 million in cash and AUD 0.93 million in shares. In addition, Healthia will pay contingent consideration of up to AUD 0.46 million may become payable as cash consideration, subject to the achievement of pre-defined conditions. The Acquisitions will be funded through existing cash reserves and finance facility with ANZ, NAB and BOQ.
Healthia Limited acquired optometry business The Optical Company Pty Ltd at the end of 2020 and two additional optical retail stores in 2021.
The latest acquisitions are expected to contribute annualised underlying revenue and EBITDA of $9.52 million and $1.90 million respectively.
