HBF to expand into physiotherapy industry through acquisition of Life Ready

Life Ready is the largest diversified physiotherapy group headquartered in Western Australia. The group has 32 clinics in WA, Victoria, and Queensland and employs more than 400 people nationwide working across three businesses:

• Life Ready Physio + Pilates – physiotherapy and allied health services
• Life Ready Mobile – in-home and community physiotherapy and rehabilitation services
• Life Ready Biosymm – comprehensive early intervention and work health services for more than 50 corporate clients across Australia and New Zealand, including several ASX-20 companies

The acquisition of Life Ready is in line with HBF’s strategy of expanding into health services, building on the launch of HBF Dental in February 2021, investment in Pacific Smiles Group (ASX: PSQ), and HBF’s alliance with Pharmacy 777. Life Ready’s national footprint also aligns with HBF’s growing membership on Australia’s East Coast.

John Van Der Wielen, HBF Chief Executive Officer, said: “As a purpose-driven organisation, HBF has been making serious investments to expand into health services and become integrated in the health sector to deliver greater value for our members and provide opportunities to improve their health outcomes.

“We know there is strong demand for physiotherapy services – it was our third most claimed ancillary benefit last financial year, accessed by around 160,000 members – and this acquisition will see HBF become the first private health insurer in Australia to meaningfully expand into retail and corporate physiotherapy.

“Life Ready represents an excellent strategic fit for HBF given its commitment to high quality, client-focused care, a significant presence where our members live nationally, and a strong track record of growth. I look forward to warmly welcoming over 400 Life Ready practitioners and support staff to HBF in the coming months.”

Dr Daniel Heredia, HBF Executive General Manager – Health, said: “Acquiring Life Ready enables HBF to further improve the physical wellbeing of our members and the community. It will see HBF provide high-quality preventative and rehabilitative physiotherapy treatment via both Life Ready’s clinics and in-home through its mobile services, as well as early intervention and work health services for corporate clients via Biosymm.

“We’ve already seen a strong community response from our expansion into dental, with around 11,000 patients since our first HBF Dental centre opened less than 12 months ago. 75 dental and support staff now work across five HBF Dental centres in Perth, with plans to add two more centres by the middle of this year.

“Just like our expansion into dental, HBF is committed to maintaining choice for members and the broader community – our members will always be able to choose where they go to for physiotherapy treatment and Life Ready’s services will be open to anyone.”