Spire Healthcare (LSE:SPI) has reported a 3.6% rise in revenue for the July–October 2025 period, achieving growth despite persistent inflationary pressures and the impact of the higher National Minimum Wage. The company’s transformation programme remains on track, targeting £30 million in savings, while the rollout of new Patient Support Centres is helping to improve private patient activity. Nonetheless, reduced NHS commissioning—linked to tighter budgets—continues to weigh on performance. Spire expects FY25 EBITDA to land at the lower end of its guidance range but anticipates further recovery in self-pay and PMI demand through FY26. The group has also extended its banking facilities and is assessing strategic options to unlock shareholder value, which may include divestments or a sharper focus on private payors.

Spire’s outlook benefits from ongoing revenue growth and meaningful operational improvements, although elevated leverage and modest net profitability remain key constraints. Technical indicators point to bearish momentum, and current valuation metrics suggest the shares may be priced ahead of fundamentals.

More about Spire Healthcare

Spire Healthcare is one of the UK’s largest independent healthcare providers, operating 38 hospitals and more than 50 clinics, medical centres, and consulting rooms across England, Wales, and Scotland. Its services include private GP networks, occupational health solutions for over 800 corporate clients, and leading private provision of knee and hip procedures. Spire also offers mental health, musculoskeletal, and dermatology care through its Vita Health Group brand. The company is listed on the London Stock Exchange and is a constituent of the FTSE 250.

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