REG - Spire Healthcare Grp - Portfolio management: Spire Tunbridge Wells

Spire HealthcareAnnouncement

03/04/2024 07:00

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RNS Number : 0558J  Spire Healthcare Group PLC  03 April 2024

Spire Healthcare Group plc

 

('Spire Healthcare', 'the Company' or 'the Group')

 

Portfolio management: Spire Tunbridge Wells Hospital

 

3 April 2024

 

Spire Healthcare Group plc (LSE: SPI), a leading independent healthcare group
in the UK, announces the sale of one of its leasehold hospitals, Spire
Tunbridge Wells, to the Maidstone and Tunbridge Wells NHS Trust ('the Trust'),
a major acute hospital trust in the south-east of England. The transaction
includes the sale of the business and assets of Spire Tunbridge Wells. The
consideration was £9.975m. The sale was completed on 31 March 2024.

 

Spire Healthcare remains committed to growth and takes a consistent and
proactive approach to portfolio management. Following the transaction, the
Group operates 38 hospitals (19 freehold and 19 leasehold properties). This
transaction reflects Spire Healthcare's continued focus on disciplined capital
allocation and meeting its stated ROCE targets.

 

Following completion of the transaction for a period expected to be around six
months, Spire Healthcare will manage the hospital operations on behalf of the
Trust continuing to provide treatment to both private and NHS patients.

 

Spire Tunbridge Wells is rated Good by the CQC, comprising 28 beds, 10
consulting rooms, 2 operating theatres and an endoscopy suite. Approximately
130 consultants operate from the hospital. For the year ended 31 December
2023, the hospital generated revenue of £12.7m and EBITDA of £1.1m.
Leasehold rent incurred during the period was £0.4m and net cash generation
(excluding working capital movements) was £0.7m. Capital expenditure during
the year was £0.4m.

 

- Ends -

 

For further information please contact:

 

 Spire Healthcare

 Angus Prentice - Director of Investor Relations   +44 (0)7974 982 512

 Instinctif Partners

 Damian Reece                                      +44 (0)7931 598 593

 Guy Scarborough                                   +44 (0)7917 178 920

 

 

Registered Office and Head Office:

 

Spire Healthcare Group plc

3 Dorset Rise

London

EC4Y 8EN

Registered number 09084066

 

 

About Spire Healthcare

 

Spire Healthcare (http://www.spirehealthcare.com) is a leading independent
healthcare group in the United Kingdom, with 38 hospitals and over 50 clinics,
medical centres and consulting rooms across England, Wales and Scotland. It
operates a network of private GPs and provides occupational health services to
over 800 corporate clients.

 

Working in partnership with over 8,600 experienced consultants, Spire
Healthcare delivered tailored, personalised care to over one million
inpatients, outpatients and daycase patients, and occupational health
programme clients, in 2023, and is the leading private provider, by volume, of
knee
(https://www.spirehealthcare.com/treatments/bones-and-joints/knee-replacement/)
and hip
(https://www.spirehealthcare.com/treatments/bones-and-joints/hip-replacement-surgery/)
operations in the United Kingdom. It also delivers a range of private and NHS
mental health, musculoskeletal and dermatological services.

 

Spire Healthcare's well-located and scalable hospitals have delivered
successful and award-winning outcomes, positioning the group well with
patients, consultants, the NHS, GPs and Private Medical Insurance ('PMI')
providers. 98% of Spire Healthcare's inspected locations are rated 'Good,'
'Outstanding' or the equivalent by health inspectors in England, Wales and
Scotland.

 

Spire Healthcare is listed on the London Stock Exchange and is a member of the
FTSE 250.

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