Allied health is the umbrella term for healthcare services other than medical, dental, and nursing, including physiotherapy, occupational therapy, podiatry, psychology, speech pathology, dietetics, and exercise physiology. Allied health is one of the most active sub-$20M M&A sectors in Australia, with consolidator activity led by groups including MedHealth, Healthia (privately held since its delisting from the ASX in December 2023, now operating more than 400 clinics across Australia and New Zealand), and a tail of regional and specialty-specific consolidators.
Allied health practice valuations typically derive from Adjusted EBITDA, with multiples varying significantly by sub-discipline, practitioner retention metrics, NDIS exposure, and Medicare/insurance billing mix.