14th May 2020 12:46
(Alliance News) - Spire Healthcare Group PLC on Thursday said its lenders have waived its June and December covenant tests, adding that its Covid-19 contract with the UK National Health Service is expected to continue until at least June 28.
The private hospital operator said it believes that the NHS contract, as well as its agreements with its lenders, provide it with sufficient liquidity and financial stability in preparation for a return to regular operations.
Spire Healthcare currently is supporting NHS Scotland, NHS England and NHS Wales through the provision of additional staff, facilities and equipment in efforts to relieve the pressure on NHS hospitals and enabling the health service to focus on treating Covid-19 patients.
Looking ahead, Spire Healthcare said the suspension of elective surgery procedures during the UK lockdown has created the potential for an increase in future demand and longer waiting lists.
However, the significant economic uncertainty caused by the pandemic means it cannot give financial guidance for 2020.
"Covid-19 has caused a previously unimaginable impact on the world around us; affecting our patients, our colleagues and our business. I applaud the efforts of everyone at Spire Healthcare during these challenging times and their unwavering commitment to delivering outstanding care for patients," said Chair Garry Watts.
Spire Healthcare stock was trading 0.3% higher at 91.00 pence each on Thursday morning in London.
By Ife Taiwo; [email protected]
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