Australian healthcare company Healthia has expanded into optometry with the AUD$43 million acquisition of optometry group The Optical Company (TOC).
The acquisition is a horizontal expansion for Healthia which has primarily operated in the podiatry and physiotherapy sectors. “The opportunity to acquire a highly complementary allied health business of the quality and size of TOC is compelling,” said Healthia CEO Wesley Coote. “TOC is a natural fit with Healthia and its stated strategic objectives of acquiring value accretive businesses in the allied health industries. TOC also provides Healthia with the expertise, people, platforms and systems required for continued organic and acquisitive growth in the optometry industry”.
Founded in 2006, The Optical Company has 41 full range optometry practices including Kevin Paisley Optometrists, nib Eye Care, Optical Warehouse and Stacey & Stacey Optometrists, as well as its namesake brand.
