Spire Healthcare to Float

Spire Healthcare to Float.

The UK’s second largest private healthcare Spire Healthcare is set to list itself on the stock market aiming for a £1bn float. The company will be posting its formal intent to float in the near future and is expected to be listed in July.

The company is owned by private equity firm Cinven after the acquisition and rebrand of 25 hospitals from Bupa. Currently Cinven operates 38 hospitals and employs 7,600 staff.

The company is hoping to raise £315m to help reduce its debts.

Half of Spire’s patients are people needing orthopaedic treatments of which 25% are referred from the NHS.

Spire is just one of a number of big companies listing themselves on the London stock exchange. On Monday, the AA listed itself on the stock market and last week Lloyds Banking Group listed a 35% stake in its TSB business.