Spire Healthcare

< back to Our investments

Activity

Hospital operator

Location

UK

Acquired

August 2007

Transaction value^*

£1.6 billion

Sales^#

£586.9 million

Employees

Approximately 7,600

^*Includes Spire Healthcare, Classic Hospitals and Thames Valley
^#12 months ending December 2008 (pro forma). Results are adjusted for the separation of Spire from the parent company and pro-forma for the acquisitions of Classic Hospitals (including synergies) and Thames Valley

Go to www.spirehealthcare.com for more information about Spire Healthcare

Spire treats over 930,000 patients per year

Business description
Spire Healthcare is the second largest private hospital group in the UK following the acquisition of Classic Hospitals in 2008. The group consists of 36 acute care hospitals spread throughout the UK. The patients treated in Spire’s hospitals are either covered by private medical insurance companies, or are paying for their own treatment, or are being paid for by the National Health Service (NHS) to ease capacity constraints in the NHS itself.

The long term dynamics of the UK private healthcare market are favourable due to demographic trends, new medical technologies and increased out-sourcing from the NHS to independent sector operators such as Spire. The private hospital market is a defensive segment in an economic downturn. The core private medical insurance market has historically been stable.

Cinven strategy
Having invested in Partnerships in Care, General Healthcare Group and Générale de Santé, the Cinven healthcare sector team is unrivalled in experience and was able to identify significant opportunities to improve operational efficiency and increase growth at Spire Healthcare. The strategy for Spire is to boost organic growth by increasing the level of capital investment in the services and assets of the business, to refocus Spire as a premium private provider, to improve operational performance and to re-align its central functions. There are also opportunities to make add-on acquisitions, such as Thames Valley and Classic Hospitals, which were acquired in 2008.

< back to Our investments