Spire Healthcare announces IPO

Guy Bentley
Follow Guy
Spire provides care to 236,000 patients (Source: Getty)

Spire Healthcare Group has announced its intention to float on the London Stock Exchange. The private hospital group's offer will include a proportion of new shares worth approximately £315m.

Thye money raised will be used to pay off debts and cover the listing cost.

The announcement follows the decision of Spire's private equity owners to cease talks on a trade sale.

Rob Roger, chief executive officer, said:

I am proud of everything our team has achieved to help us deliver the clinical excellence our patients have come to expect. Our future as a public company in this emerging sector is bright and exciting.

Founded in 2007, the company boasts 39 private hospitals and 13 clinics across the UK, with revenues of £764.5m in 2013.

Spire provides care to approximately 236,000 patients, in-patients and daycase patients and employed 6,944 as of December 2013.

Related articles