(Alliance News) - Spire Healthcare Group PLC confirmed on Saturday it has signed a heads of agreement with the UK National Health Service to make Spire's private hospitals available to the NHS during the Covid-19 health crisis.
The private hospital operator on Wednesday had noted the letter from NHS Chief Executive Simon Stevens saying the UK healthcare service was in the process of block-buying capacity in independent hospitals.
In his letter, Stevens said the purchases - expected to be completed in two weeks - would make staff and facilities in concerned independent hospitals "available for urgent surgery". He added that beds, operating theatres and recovery facilities would be repurposed to provide respiratory support for Covid-19 patients.
On Saturday, Spire Healthcare said it now has signed an agreement to make all 35 of its hospitals in England available to the NHS for a minimum of 14 weeks and then on a rolling basis, terminable by the NHS with a month's notice.
The NHS will pay Spire weekly in advance to cover the company's costs. Spire said primary care is excluded, and its private general practitioner service will continue as normal.
Spire also said Saturday it will suspend all non-urgent elective surgery for patients over age 70 and others particularly vulnerable to Covid-19.
The company said the NHS agreement will give it sufficient liquidity and financial stability during the current health crisis, but the uncertainty caused means it is withdrawing the profit guidance it had given earlier in the month.
Spire shares rose 8.5% in London on Friday to 57.00 pence but remain down more than 50% in the past month.
By Tom Waite; thomaslwaite@alliancenews.com
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Spire Healthcare (SPI)