LONDON, UK: Spire Healthcare Group (LSE: SPI), a leading UK independent hospital group, announced the acquisition of The Doctors Clinic Group, an integrated provider of occupational health and private GP services, for a total consideration of £12m.

The Doctors Clinic Group provides occupational health services to more than 700 corporate clients and operates 22 active private GP clinics. It is expected to deliver turnover of £11m in 2022 and currently has a total workforce of 279, of which 65% are clinicians.

The acquisition of The Doctors Clinic Group furthers Spire Healthcare’s strategy to expand its proposition to address the increased demand for healthcare in the UK, supporting the delivery of a broader range of healthcare services which complement the existing services offered by the Group’s hospitals. This is a modest bolt-on investment in a business that, under Spire’s ownership, is expected to break even in 2023 and become profitable in 2024.

Occupational health is an attractive market in the UK with demand growing by 7% per year over the last five years, as employers seek to provide better support and benefits for their employees.

The Doctors Clinic Group’s occupational health business provides a range of services including absence management, new starter and back-to-work assessments, and health surveillance.

The Doctors Clinic Group’s services to corporates also extend to corporate wellness services such as screening, vaccinations and workshops. Spire sees synergy potential between its core hospital services and insurance products for The Doctors Clinic Group’s corporate clients, and anticipates an opportunity to add further scale to the occupational health business in the future.

The private GP business is aligned with the significant growth in demand for face-to-face GP services in the UK and Spire Healthcare’s plans to develop a network of clinics.

Under Spire’s ownership, patients can expect to benefit from a more convenient referral pathway to Spire’s clinics and hospitals for further diagnosis and treatment if required. The Doctors Clinic Group’s private GP footprint is particularly strong in Central London, which represents an opportunity for Spire to gain a primary care presence in this market.

Justin Ash, Chief Executive Officer of Spire Healthcare, said: “The Doctors Clinic Group will provide Spire with a strong platform to enter and expand in the fast-growing occupational health sector, and to increase our capacity to meet the burgeoning need for private GP services. This acquisition is closely aligned to our growth strategy and I look forward to welcoming all colleagues at The Doctors Clinic Group to Spire Healthcare.”