6th Nov 2014 08:07
LONDON (Alliance News) - Spire Healthcare Group PLC said Thursday it expects to see revenue for the full year between GBP825 million to GBP840 million as it has traded in line with expectations, and announced that it had agreed a contract renewal with healthcare provide Bupa UK.
The independent hospital group said that its Private Medical Insurer business has seen stable volumes with a marginal increase in revenue per case for the period from the start of July to end-October.
In the same period, its Self-Pay business saw increased volumes and a marginal increase in revenue per case. NHS volumes continued to grow ahead of private volumes in locally contracted work and Choose and Book, also with a marginal increase in revenue per case.
Spire said its net debt at September 30 was better than expectation at GBP435 million.
Spire agreed a contract renewal with Bupa for a minimum term of four years, with prices agreed for the six years to end-March 2021. The agreement covers all of Spire's existing hospitals. Financial details of the deal were not disclosed.
"Following on from the conclusion of the Competition and Markets Authority review of the independent healthcare sector, it represents a decisive shift to a more partnership-style approach, the aim of which is to build on the current excellent working relationship between Spire and Bupa, in order to drive volume growth in independent patient numbers, based on affordable healthcare and great clinical outcomes," said Chief Executive Rob Roger in a statement.
Shares in Spire are trading up 1.4% at 288.00 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Spire Healthcare