3rd Apr 2024 09:13
(Alliance News) - Spire Healthcare Group PLC said on Wednesday that it sold a leasehold hospital as part of its proactive approach to portfolio management and commitment to growth.
The leading UK private healthcare provider sold its Spire Tunbridge Wells leasehold hospital to the local NHS Trust for a total consideration of GBP10 million.
In 2023 the hospital generated revenue of GBP12.7 million and earnings of GBP1.1 million before interest, taxes, depreciation and amortization.
The company said: "This transaction reflects Spire Healthcare's continued focus on disciplined capital allocation and meeting its stated return on capital employed targets."
A transaction period of approximately six months is expected, during which the company will continue to manage operations at the hospital.
The company retains a portfolio of 38 hospitals, 19 of which are freehold.
Spire shares were down 0.6% to 232.00 pence each in London on Wednesday morning.
By Elijah Dale, Alliance News reporter
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