Independent hospital group Spire Healthcare Group today announced a 2020 loss of £20.7 million, with the loss increasing to £233.9 million after adjusting items. This is compared to profit of £9.8 million reported for 2019, reduced to £9.6 million after adjusting items.
Revenue for 2020 was £919.9 million, down from £980.8 million reported for 2019.
Spire Healthcare chief executive Justin Ash said: “We’re immensely proud that, in this challenging year for everybody, Spire Healthcare’s nationwide support for the NHS has made a positive difference to NHS patients’ lives. Thanks to the tremendous efforts of colleagues across our hospitals, over 210,000 NHS patients have continued to receive vital, high-quality care under extremely demanding conditions. As a business, we focused on cash management and accelerating digital programmes, and delivered a strong return to elective private care in the second half of 2020.
“Looking ahead, the investment we’ve made in our business and our colleagues means that Spire Healthcare is primed to treat the growing numbers of private and NHS patients needing elective and clinically-urgent care, with our continued focus on outstanding patient care, quality and safety.”
In its outlook for 2021, Spire stated: “Trading in January and February was in-line with the board’s expectations although with a different mix of work due to the impact of Covid-19 and lockdown. Underlying trends remain positive with private enquiries above prior year, a waiting list of private surgery and significant national unmet demand for both NHS and private diagnostics and procedures. Notwithstanding the various costs and uncertainty relating to the evolution of the Covid pandemic, Spire Healthcare is in a strong position to meet the increased demand when Covid-19 abates, therefore the board remains cautiously optimistic that trading will return to 2019 levels in 2021.”
Spire Healthcare Group also announced the appointment today of chairman-designate Sir Ian Cheshire, who will take on the full role following the annual general meeting on 13 May 2021.
Sir Ian previously worked for 17 years at Kingfisher, the last seven as group chief executive, and was also chief executive of B&Q and chairman of Barclays UK. He has held a number of lead non-executive roles in UK government, including lead non-executive member of the Cabinet Office board. He is also honorary president of the Business Disability Forum President’s Group and a former chairman of The Prince of Wales Corporate Leaders Group on climate change.
Current chairman Garry Watts who is retiring said: “The past year has been a challenging way to complete my tenure as chairman, but one that showed Spire at its very best. The business has developed significantly over the last 10 years, becoming a successful listed company with an uncompromising focus on patient care. I leave the organisation confident that it has a bright future as a key player in UK Healthcare, led by an outstanding senior management team.”
Date published: March 4, 2021