From a solo sports physio in Burleigh Heads to a team of podiatrists, psychologists and exercise physiologists in Helensvale: compared with sales of similar clinics, then tested on how much of the appointment book would stay if the owner stepped back from treating.
Allied health clinics on the Gold Coast are mostly valued by reference to sales of similar clinics, narrowed by discipline, number of clinicians, where referrals come from and the lease. The multiple those sales support is applied to maintainable earnings, worked out after paying the owner a market rate for treating and a separate salary for running the clinic, with patients who would follow one practitioner treated as personal goodwill and left out.
Usually an ownership change is close. A senior physiotherapist at a Robina clinic wants a third share. A national allied health group has offered to buy a podiatry business with rooms in Southport and Nerang. The founder of a Varsity Lakes psychology practice is stepping back and two associates want to buy her out. A separating couple need the clinic valued as at a fixed date for a property settlement run through the Federal Circuit and Family Court's Brisbane registry. Or the business is moving into a company and the ATO will expect that transfer to happen at market value.
Some owners have a more basic question: is this a business, or a well-equipped job? Plenty of clinics on the coast still run on the owner's own diary, and the answer tells them whether to prepare for a sale at all. A valuation separates what a buyer would actually pay for, such as referral relationships, the clinical team, booking and billing systems and the location, from the patients who would go wherever the owner goes.
The Market Approach leads. Physiotherapy, podiatry, psychology, chiropractic and exercise physiology clinics change hands on the Gold Coast and through South East Queensland often enough to produce usable evidence, and a price settled between a well-informed buyer and seller says more about value than a forecast that has the diary filling up forever.
The weight on the income approach rises as the owner treats less. If most fees are earned by employed or contracted clinicians and the owner mainly manages, the earnings are likely to continue after a sale and capitalising them is as dependable as the sales evidence. If the owner still sees most of the patients, the comparable sales carry the answer.
We use the guideline transaction method. Sales are filtered first by discipline, then by the number of clinicians, where referrals come from, the location and how long the lease has to run, and value is expressed as a multiple of maintainable earnings. Fees per clinician and per treatment room serve as checks on the multiple, never as the basis for it.
We charge the owner twice before capitalising anything: a market rate for each hour spent treating, and a market salary for running the clinic. Splitting the two shows the profit a buyer who neither treats nor manages would really be left with.
Plinths, rehab gym and hydrotherapy gear, shockwave and ultrasound machines, gait and orthotic scanning systems and the fit-out, each at what it would sell for today. That total is the floor, and for a clinic with a single practitioner it can come close to the whole value.
Two valuers looking at one clinic usually part company on normalisation, so we list every adjustment in the body of the report with the reason for it. In allied health the same items come up repeatedly:
On the Gold Coast, referrals follow the hospitals and the lifestyle. Clinics close to Gold Coast University Hospital and the private hospital beside it at Parklands, or near Robina Hospital, draw more post-surgical and specialist referrals, and Griffith University and Bond University both train allied health graduates who often stay to work locally. A clinic in Coomera, Upper Coomera or Mudgeeraba relies more on nearby GPs and on families living in the area. The beach suburbs from Main Beach to Palm Beach support sports physiotherapy and exercise physiology for an active population, and many clinics there share a building with a gym or a medical centre, where the terms of that arrangement can matter more to a buyer than the fit-out. Because these clinics carry different risks, we do not use one kind as a comparable for the other.
State and national funders sit side by side. WorkCover Queensland pays for treating injured workers, compulsory third party insurers pay for road injury treatment, and the NDIS and private health funds cover much of the rest, each with its own fee schedule, approvals and payment timing. A clinic that leans heavily on one of them has the profile of a business with one big customer, and the capitalisation rate takes that into account. Buyers sometimes point to the 2032 Games as a reason for growth in sports and exercise work; we count only the demand a clinic can already show.
In the national business count, health care and social assistance grew 6.7 per cent over 2025 to 2026 to reach 227,702 businesses, and Queensland ended that year with a net 19,244 more actively trading businesses across all industries (Source: ABS, Counts of Australian Businesses, July 2022 to June 2026, released 18 August 2026). More clinics in business means more sales to compare with, and buyers compete hardest for clinics with several clinicians and steady referrers.
We begin by stating why the valuation was prepared, the standard of value, the valuation date and the records relied on, and we say where those records have gaps. The report then explains every approach considered and the method applied under it, lists each normalisation adjustment and why it was made, and settles on a range, with the weight given to each approach explained in everyday language.
When a clinic sale or an owner's exit turns into a dispute, the other side reads the reconciliation first. If the report cannot say why clinic sales outweighed capitalised earnings, or why the multiple was set where it was, an opposing expert has an easy target, whether the case is heard in the District Court of Queensland at Southport, the Supreme Court of Queensland, or as a property settlement before the Federal Circuit and Family Court's Brisbane registry. Reports follow APESB, APES 225 Valuation Services and are signed by a credentialed certified valuer who will explain and defend the opinion.
Which assumption in my clinic's valuation is the weakest, and how would you defend it if challenged? A valuer who cannot answer straight away has not finished.
An Indicative valuation helps an owner decide whether to begin a sale or open buy-in discussions with a senior clinician. It is for internal decision-making and is not written for third party reliance. A Summary report suits an associate taking equity, a sale to a clinic group, or a loan for a new fit-out. A Detailed report is needed for a family law property settlement, a falling-out between owners, or any case where a second expert will test the numbers.
The reader sets the standard. If a judge, a lender, the ATO or another valuer is likely to scrutinise the figure, go for the more complete report.
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.