LONDON, UK: Spire Healthcare Group (LSE: SPI), a number one UK independent hospital group, introduced the acquisition of The Doctors Clinic Group, an built-in supplier of occupational well being and personal GP services, for a complete consideration of £12m.
The Doctors Clinic Group provides occupational well being services to greater than 700 company clients and operates 22 active private GP clinics. It is anticipated to ship turnover of £11m in 2022 and currently has a complete workforce of 279, of which 65% are clinicians.
The acquisition of The Doctors Clinic Group furthers Spire Healthcare’s technique to expand its proposition to address the elevated demand for healthcare within the UK, supporting the supply of a broader vary of healthcare services which complement the existing services offered by the Group’s hospitals. This is a modest bolt-on funding in a enterprise that, under Spire’s ownership, is anticipated to interrupt even in 2023 and become worthwhile in 2024.
Occupational well being is an attractive market within the UK with demand rising by 7% per year over the final 5 years, as employers search to present higher support and advantages for his or her employees.
The Doctors Clinic Group’s occupational well being enterprise provides a vary of services together with absence management, new starter and back-to-work assessments, and well being surveillance.
The Doctors Clinic Group’s services to corporates additionally extend to company wellness services such as screening, vaccinations and workshops. Spire sees synergy potential between its core hospital services and insurance coverage merchandise for The Doctors Clinic Group’s company clients, and anticipates an alternative so as to add additional scale to the occupational well being enterprise within the future.
The private GP enterprise is aligned with the numerous growth in demand for face-to-face GP services within the UK and Spire Healthcare’s plans to develop a community of clinics.
Under Spire’s ownership, sufferers can expect to profit from a extra handy referral pathway to Spire’s clinics and hospitals for additional diagnosis and treatment if required. The Doctors Clinic Group’s private GP footprint is especially strong in Central London, which represents an alternative for Spire to gain a primary care presence on this market.
Justin Ash, Chief Executive Officer of Spire Healthcare, said: “The Doctors Clinic Group will present Spire with a strong platform to enter and expand within the fast-growing occupational well being sector, and to extend our capability to meet the burgeoning want for personal GP services. This acquisition is closely aligned to our growth technique and I look ahead to welcoming all colleagues at The Doctors Clinic Group to Spire Healthcare.”