23rd Sep 2021 08:49
(Alliance News) -Â Spire Healthcare Group PLC on Thursday said it has agreed to buy a majority stake in the operating assets of the Claremont Private Hospital in Sheffield.
"Claremont Private Hospital provides the company with a high-quality hospital in South Yorkshire, an area with a large population where Spire Healthcare currently has no presence, and where the group anticipates strong demand for self-pay procedures," said Spire, a private hospital operator.
Claremont has 46 beds and three operating theatres, and specialises in orthopaedics, general surgery and neurosurgery. It generated revenue of GBP20.3 million in 2019 and earnings before interest, tax, depreciation and amortisation of GBP2.7 million.
Spire Healthcare will pay GBP15.7 million, funded by existing cash, to take a 87% stake in the hospital's operating assets, which are currently owned by Aspen Healthcare. Spire Healthcare has also entered a long-term lease with Aspen Healthcare's owner, NorthWest Healthcare Properties REIT, on "market based terms".
The remaining 13% stake is owned by a group of consultants, Spire said, and most have practising privileges at Claremont.
Shares in Spire were up 0.4% at 232.50 pence in London early Thursday.
By Lucy Heming;Â [email protected]
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