SYDNEY, AUSTRALIA: APM Human Services International Limited (ASX: APM) has entered into a binding agreement to acquire all the issued shares of Everyday Independence for cash consideration of $52.5 million plus an earn-out based on financial year ended 30 June 2024 targets. Completion is expected to occur on 1 February 2023.
Strategic acquisition of one of the largest providers of NDIS therapy services in Australia Founder led Everyday Independence is a leading registered National Disability Insurance Scheme (NDIS) provider established in 1997 delivering evidence-based therapies to children, youth, and adults so that they can overcome barriers to live a full and happy life.
Everyday Independence has over 450 therapists operating from 30 locations providing services to more than 10,000 participants in Queensland, Victoria, New South Wales, South Australia, Tasmania, and Western Australia, substantially increasing APM’s service reach to NDIS participants across all ages.
Everyday Independence is a registered provider of Therapeutic Supports including Occupational Therapy, Speech Pathology and Physiotherapy and delivers Early Childhood Intervention Services, Habit Coaching, and positive behaviour support services.
The acquisition of Everyday Independence supports APM’s strategy to become the market leading national provider of Allied Health services across the lifespan, from infancy to ageing.
Together, across our combined operations we will have more than 1,500 Allied Health professionals operating across 193 locations in Australia.
The NDIS is an Australian government funded scheme providing important support for Australians with disability, their families, and carers. The NDIS currently supports over 560,0001 Australians with disability (up 15% on prior year) to access the services and supports they need. It is estimated there will be over 740,000 participants by 2026 and more than 1 million by 2032.
NDIS funding was $29.9 billion in 2022 with budget estimates forecasting $35 billion in 2023 (of which approximately $25 billion will support service delivery).
Commenting on the Acquisition, APM Group CEO, Michael Anghie said: “Everyday Independence has great people, a strong reputation and is a strategic acquisition for APM expanding our Allied Health business in Australia as well as our NDIS service offering.
We will continue to invest in our people to enable us to grow and expand the depth and breadth of our service offering to ensure that all Australians no matter where they live, whether it be metropolitan, regional, or rural areas, have access to high quality evidence based allied health services.
The acquisition of Everyday Independence is aligned with our strategy to continue to expand our business in the key growth sector of Disability Services and complements APM’s existing Allied Health business and overarching growth objectives”
APM Executive Chair, Megan Wynne said: “I am delighted to welcome the Everyday Independence team into the APM family. As purpose driven businesses, we are strongly aligned in our culture and values. We have long admired the business built by Founders, Leanne and Mal Healey, and over recent months have learnt a lot about each other and our shared vision.
Together we will continue to empower people to realise their aspirations through improved independence, health and wellbeing and increased social and economic participation in their community”.
Commenting on the Acquisition, Everyday Independence Founder and CEO Leanne Healey said: “We are excited about joining APM and what we can do together for our clients and people. Under the umbrella of APM, Everyday Independence will have an even greater impact on the lives of individuals, families, and communities. We are delighted to join forces with an organisation that has the reach and impact of APM.”