Spire Healthcare

Spire Healthcare is the second-largest private hospital provider in the United Kingdom.  It operates from 35 hospitals spread throughout the country and employs 5,800 people, including 3,300 clinical staff.  Its customers include private medical insurance companies, self-pay clients and the National Health Service.  The company was formed in 2007 following the sale of BUPA’s hospital assets to Cinven for £1.44 billion (€2.13 billion).

Skillcapital’s engagement by Cinven was in three phases. During the bid process we were tasked with identifying individuals that had specific areas of expertise in the hospitals sector who would be able to assist Cinven with evaluation of the business. Skillcapital was familiar with the private hospitals market through our work on previous healthcare transactions. Cinven’s bid for BUPA’s hospital assets was successful and the business was acquired in August 2007.

The second phase of our involvement was post the acquisition, when Skillcapital were asked to identify a new Chief Operating Officer who could help strengthen the management team and work alongside the existing CEO. In finding the Chief Operating Officer Skillcapital conducted a global search to identify executives who had successfully completed a buyout in the hospitals sector. We identified Robert Wise in Australia, who was formerly Chief Operating Officer of Affinity Health, an Australian private hospitals group that was backed by CVC and Ironbridge. Robert Wise joined Spire as Chief Operating Officer in October 2007.

The final phase of Skillcapital’s involvement was in 2008. Cinven asked us to help identify a Chairman. We found the ideal candidate in Robert Cooke, who had previously worked with Robert Wise at Affinity Health, where they were Chief Executive Officer and Chief Operating Officer respectively. Robert Cooke Joined Spire as Chairman in July 2008.

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