Annual report and accounts 2024

Our annual report for 2024 outlines our key achievements delivered through our strategy, our progress on sustainability, and all our financial results.

It has been a year of good progress across the group. Our strategy is helping us to meet the changing demands for healthcare, as we expand our reach beyond our hospitals and clinics to help meet Britain’s healthcare needs. We continued to grow and cared for over 1.3 million patients in 2024. The business delivered a good financial performance in a dynamic macroeconomic environment, and we expect to make further good progress in 2025 by making further savings across the business.

Our model for success

Delivering sustainable shareholder value

  • Building scale and access
  • Investing in growth and high-return sectors
  • Focusing on efficiency and expertise
  • Driving quality and patient experience

Delivering societal value

  • Helping to create a healthier and more productive Britain
  • Providing the highest quality care
  • Boosting the UK economy
  • Supporting communities, global and local

2024 Annual report and account

We are helping to meet Britain’s healthcare needs by running great hospitals, developing new services and living our purpose of ‘making a positive difference to people’s lives through outstanding personalised care’.

View our 2024 annual report and accounts

2024 financial highlights

Group

£1,511.2m

revenue up 11.2% from 2023

Group

£137.5m

operating profit up 9% from £126.2m in 2023

Hospitals

£260.0m

adjusted EBITDA up 11.1% from 2023

Hospitals

18.0%

adjusted EBITDA margin up 0.4 percentage points from 2023 for the hospital business

Group

8.2%

ROCE up from 7.5% in 2023 

Making a positive difference to people’s lives through outstanding personalised care

Quality and patient safety are at the heart of everything we do, and we keep our patients at the centre of care.

“2024 was a year of many achievements as we deliver on our strategy and continue to transform the business in a changing environment. We are a diversified, integrated business with resilience for the future, and I am confident of our continued growth into 2025. Thank you to all colleagues, consultants and leaders for their efforts and commitment.”
Justin Ash
Chief Executive Officer
“2024 was a year of many achievements as we deliver on our strategy and continue to transform the business in a changing environment. We are a diversified, integrated business with resilience for the future, and I am confident of our continued growth into 2025. Thank you to all colleagues, consultants and leaders for their efforts and commitment.”
Justin Ash
Chief Executive Officer

The five pillars of our strategy

Our strategy helps us to meet more of Britain’s healthcare needs. It is a strategy that works by focusing on quality and safety, champions sustainability throughout the organisation, recognises the vital role our colleagues play, helps us to expand into new areas of healthcare to meet more people’s needs, and delivers a strong financial performance for our shareholders while generating value for all our stakeholders.

View our strategy

Our five pillars

1. Driving hospital performance

Continue to grow across our existing hospital estate with increasing margins.

Read more

2. Building on quality

Maintain strong quality and safety credentials for patients and as a competitive advantage.

Read more

3. Investing in our workforce

Aspire to recruit, retain and develop great people.

Read more

4. Championing sustainability

Become recognised as a leader in sustainability in our industry.

Read more

5. Expanding our proposition

Selectively invest to attract patients and meet more of their healthcare needs.

Read more

2024 financial highlights continued

Group

£112.1m

invested in upgrading and maintaining our estate, up from £84.4 in 2023

Hospitals

£20m +

in efficiency savings delivered 2024

Largest UK private healthcare provider by turnover

Primary care services

We are becoming an integrated healthcare provider, looking after people’s health and wellbeing with a range of private GP, occupational health, musculoskeletal and, mental health and NHS talking therapies services. We are seeking new ways to tackle the causes of ill health and low productivity, supporting choice, and partnering with the NHS while offering synergies to our hospital business.

In 2022, we acquired The Doctors Clinic Group, which now provides occupational health and private GP services under Spire Occupational Health and London Doctors Clinic brands. In 2023, we acquired Vita Health Group, a market-leading provider of NHS talking therapies, musculoskeletal and dermatology services, as well as corporate and occupational health services. In 2024 we opened three new clinics in Wales, Norwich and Harrogate, and started offering online mental health services under Spire Mental Health. In early 2025, we acquired Acorn Occupational Health, contributing further to the reach of our occupational health offering.

These services comprise the primary care services section of our business, complementing the hospitals business.

Read more here

 

2024 non-financial highlights

1.3 million +

people cared for in 2024

97%

of hospital patients rated their experiences as ‘good’ or ‘very good’

800 +

corporate clients in Spire Occupational Health and Vita Health Group

96,900

appointments in Spire GP and London Doctors Clinic

48%

of overall waste is recycled in the hospitals business, up from 35% in 20223

Previous annual reports

Below you can find a selection of our previous annual reports. Other reports and accounts can be found in our full archive.

2023 Annual Report
2022 Annual Report
2021 Annual Report
2020 Annual Report
2019 Annual Report
2018 Annual Report

Championing sustainability

We want to become recognised as a leader in sustainability in our industry and it is a core component of our operations. By managing sustainability successfully, we aim to create lasting social economic value. We aim to develop a business that is fit for purpose now and capable of providing lasting impact in the future. Through our sustainability strategy we seek to create value in the workplace, our local communities and the environment. We believe that acting conscientiously and investing responsibly to achieve positive social and environmental outcomes, are critical to the long-term success of Spire Healthcare.

Sustainability strategy

There are three elements to the strategy:

  • Respect the environment - We are committed to minimising the environmental impact of our operations and maintaining the group’s resilience to environmental risks and impacts
  • Engage our people and communities - We are a people business. By hiring talented people and providing an environment in which to grow and develop their careers, our patients and the communities with whom we interact, and society at large, will benefit
  • Operate responsibly - We aim to operate to the highest standards in everything we do, ensuring honesty, integrity, proper governance and compliance at all times. We promote an ethical culture across the group

View our sustainability report

“Spire has continued to deliver on its strategy, across our financial, quality and people measure. Our market fundamentals remain strong. This encouraging performance is testament to Spire’s culture.”
Sir Ian Cheshire
Chairman
“Spire has continued to deliver on its strategy, across our financial, quality and people measure. Our market fundamentals remain strong. This encouraging performance is testament to Spire’s culture.”
Sir Ian Cheshire
Chairman