Spire offloads Tunbridge Wells hospital for £10m

3rd Apr 2024 07:36

(Sharecast News) - Healthcare group Spire has announced the recent sale of one of its leasehold hospitals in Tunbridge Wells for £10m, which it says was part of its "consistent and proactive approach to portfolio management".

The business and assets of Spire Tunbridge Wells were sold to hospital trust Maidstone and Tunbridge Wells NHS Trust on 31 March, the company announced on Wednesday.

Spire will continue to manage the hospital operations on behalf of the trust for around six months and continue to provide treatment to both private and NHS patients, it said.

The disposal leaves Spire with 38 hospitals, of which half are freehold and half are leasehold.

"This transaction reflects Spire Healthcare's continued focus on disciplined capital allocation and meeting its stated ROCE targets," the company said.