Member Article

Spire IPO values private healthcare group at £955 million

British private healthcare provider Spire Healthcare Group, which operates a hospital in Washington and a facility in Newcastle, has set a price range for its forthcoming IPO, valuing the company at £955 million.

The London-headquartered firm said the expected price range for its offer has been set between 210 pence to 300 pence per share.

45% of the company will be floated, which is estimated to raise the company £315 million.

The move is expected to push Spire, which operates 38 private hospitals and 11 private clinics, into the FTSE 250 Index.

CEO Rob Roger said: “We are pleased with the level of investor interest we’re seeing at this stage of the IPO process. We believe the dynamics of the UK healthcare market are strong and will strengthen further given the growing UK population and increasing life expectancy.

“Spire represents an opportunity to invest in a business with a strong track record and would be the first UK-based private hospital group to list on the London Stock Exchange.

“We look forward to welcoming new investors, including our employees and consultants, as we embark on the next phase of our growth.

“We remain committed to providing the highest quality patient care whilst seeking to deliver sustainable returns for our shareholders.”

This was posted in Bdaily's Members' News section by Tom Keighley .