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A certified valuer will listen to your situation and answer any questions you may have, at no cost.
A one-room physiotherapy practice in Battery Point or a multi-discipline team in Rosny Park: priced against clinics that have actually sold, with the patients who would follow the principal taken out of what a buyer pays for.
Hobart allied health clinics are usually valued against sales of comparable clinics, matched on discipline, number of clinicians, referral sources and lease. The multiple that evidence supports is applied to maintainable earnings, calculated after the principal is paid separately for treating and for managing, with patients loyal to one practitioner treated as personal goodwill.
The call usually comes when ownership is about to move. A senior physiotherapist at a North Hobart practice wants a third of the business. A national allied health group has approached a podiatry clinic with rooms in Glenorchy and Kingston. The founder of a Sandy Bay psychology practice is retiring, and two associates want to buy her out.
Legal and tax events bring the rest. A property settlement in the Hobart registry of the Federal Circuit and Family Court needs the clinic valued at a fixed date, or the practice is moving into a company and the ATO will expect the transfer at market value.
Other owners want an honest answer to a harder question: would anyone pay for this clinic without me in it? Plenty of clinics depend on one practitioner's appointment book, and the answer decides whether a sale is worth planning. The valuation separates what a buyer would pay for, such as referral relationships, the clinical team, the systems and the location, from the patients who would leave with you.
A certified valuer will listen to your situation and answer any questions you may have, at no cost.
The Market Approach leads. Physiotherapy, podiatry, psychology and exercise physiology clinics change hands often enough to give real evidence, and a price agreed between an informed buyer and seller says more about value than a forecast that assumes the appointment book keeps filling.
We use guideline transactions. The sales are filtered first by discipline, then by number of treating clinicians, referral sources, the type of location and the lease term remaining, and value is expressed as a multiple of maintainable earnings. Fees per clinician and per room are checked against that multiple, never used to set it.
The less the principal treats, the more weight the income approach earns. Once most fees come from employed or contracted clinicians and the owner mainly manages, earnings are likely to survive a sale and capitalising them is as reliable as the sales evidence. While the principal still sees most patients, the comparables decide.
The principal's role is costed in two parts: clinical hours at what a replacement practitioner would charge, and management at what a practice manager would earn. Only the profit left after both is profit a buyer can capitalise.
Plinths, gym and rehabilitation equipment, shockwave and ultrasound units, orthotic scanners and the fit-out are restated at what they would sell for today. Their total is the floor, and for a clinic built around one practitioner it can be most of the answer.
Two valuers' figures for the same clinic usually part ways in normalisation, so the report sets out each adjustment and why it was made. For allied health clinics, these recur:
Referral patterns in Hobart follow the Royal Hobart Hospital and the city's private hospitals. Clinics in the CBD and North Hobart see more post-surgical and specialist referrals, while practices in Moonah, Glenorchy, Kingston and on the eastern shore rely more on local GPs and on patients who live nearby. The risk profiles differ, so we do not use one kind of clinic as a comparable for the other.
Many clinics also share space with a gym, a pool or a medical centre. The terms of that sharing arrangement, and whether it survives a change of owner, can matter more to a buyer than the fit-out.
Tasmanian funding sits beside the national schemes. Treatment for injured workers is paid under the Workers Rehabilitation and Compensation Act 1988 (Tas), with WorkSafe Tasmania as the regulator and disputes heard in the Personal Compensation stream of TASCAT. Motor accident treatment is funded through the state's motor accident insurance scheme, and the NDIS and private health funds cover much of what remains.
Each funder has its own fee schedule, approvals and payment timing. A clinic that leans heavily on one of them carries the risk of a business with a single large customer, and the capitalisation rate reflects that.
The sector keeps growing nationally. Health care and social assistance businesses rose 6.7 per cent in 2025 to 2026, to 227,702, and Tasmania added a net 850 actively trading businesses across all industries, up 1.9 per cent (Source: ABS, Counts of Australian Businesses, July 2022 to June 2026, released 18 August 2026). That growth adds to the sales evidence, and the clinics buyers chase are those with several clinicians and referrers who have sent patients for years.
We start the report with the purpose, the standard of value, the valuation date and the records relied on, and we say where those records fall short. Each approach considered comes next, with the method used, every normalisation adjustment and the reason for it, and a range reached by weighting the approaches in ordinary language.
If a clinic sale or a principal's exit turns into a dispute, the other side reads the reconciliation first. A report that cannot explain why the clinic sales outweighed capitalised earnings, or why the multiple landed where it did, gives an opposing expert an easy opening, whether the matter is in the Supreme Court of Tasmania, in the civil division of the Magistrates Court for a smaller claim, or a property settlement at the Hobart registry of the Federal Circuit and Family Court.
Our reports are prepared under APESB, APES 225 Valuation Services and signed by a credentialed certified valuer who is ready to explain and defend the opinion.
Ask which assumption in your clinic's valuation an opposing expert would go after first, and listen to the reply. If the valuer has to come back to you on it, the report is not ready.
Before you open buy-in talks or decide to sell, an Indicative valuation gives you a private benchmark. It is for internal decision-making and is not written for third party reliance. Choose a Summary report when an associate is buying equity, a group is acquiring the clinic or a lender is funding a fit-out. A Detailed report is needed for a family law settlement, a falling-out between principals or any matter where a second expert will go through the numbers.
Depth should follow the audience: the more likely a court, a bank, the ATO or another expert is to read the report, the more complete it needs to be.
For internal decision-making. Useful for testing an offer, setting an expectation before a negotiation, or deciding whether to go to market. It is not written for third party reliance.
Sets out the approaches applied, the normalisation adjustments made and the reasoning behind the conclusion. The usual choice for a sale, an ownership change or a finance application.
Applies and reconciles all relevant approaches in full. The level required where a court, the ATO, a lender or another expert will review the opinion.
Talk your situation through with a certified valuer before you commit to anything, at no cost.