Spire spends millions on widening reach as the number of sick staff in UK rises
The UK’s second largest private healthcare group has spent millions on widening its reach, as the number of long-term sick people in the country rises.
Spire has bought independent hospital group The Doctors Clinic Group for £12m, bringing 22 private GP practices under its wing, it announced today.
The London-listed healthcare group said the deal formed part of bosses plans to address the increasing demand for healthcare in the UK with bolt-on acquisitions.
The number of people out of work due to long-term sickness has increased in recent years, having accelerated following the Covid-19 pandemic, according to official research.
While the occupational health market, where employers provide better benefits to their employees through free or subsidised private healthcare, has grown by around seven per cent each year for the past five years, according to Spire.
The takeover, which will start producing profit for Spire in 2024, will bring an additional 700 corporate clients into the group.
Spire CEO Justin Ash said: “The Doctors Clinic Group will provide Spire with a strong platform to enter and expand in the fast-growing occupational health sector, and to increase our capacity to meet the burgeoning need for private GP services.
“This acquisition is closely aligned to our growth strategy, and I look forward to welcoming all colleagues at The Doctors Clinic Group to Spire Healthcare.”