Spire Healthcare

Independent hospital group Spire Healthcare Group today announced a loss of £16.9 million, for the first half of 2021, compared to a loss of £233.1 million reported for the first six months of last year.

However, Spire did achieve operating profit of $46.2 million for the half-year, compared to an operating loss of £189.8 million reported for the first half of last year.

Revenue for the first six months of the year was £558.2 million, up from £401.9 million reported for the first half of 2020.

Spire Healthcare chief executive Justin Ash said: “I am pleased by our performance in the first six months of the year, which has seen us return to operating profit despite ongoing Covid costs, due to the exceptional growth in private revenues. We have been successful in building the Spire Healthcare brand and responding to the resulting unprecedented demand from private patients. As waiting lists continue to climb, the company is helping patients find options for treatment, be that privately or by assisting the NHS.

“We are of course experiencing material additional costs arising from the complexities of delivering safe care in a Covid-secure environment, which will continue as long as Covid case numbers remain high in the UK. However, we have successfully driven down the cost of Covid testing and our continued investment in digital systems and efficient pathways will deliver significant cost savings in 2022 and beyond. The long-term prospects for the healthcare sector are positive and we stand ready to play our part in addressing waiting lists and supporting the UK’s recovery from the pandemic.”

Date published: September 9, 2021

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