Spire Healthcare

Ticker SPI

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Market open
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Price Pence
As of 14:10 23 Aug 2019
Market cap. Pound sterling
397.63 million
As of 14:10 23 Aug 2019

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Spire completes Paterson compensation payouts

Today Programme

BBC Radio 4

Ian Paterson

Private healthcare firm Spire Healthcare Group has told the BBC it has completed compensation payouts with regards of victims of rogue surgeon Ian Paterson.

Spire, a firm which runs private hospitals where Paterson held clinics, had paid around £27m into a fund to recompense victims of the disgraced breast surgeon.

"That is largely closed in terms of compensation," chief executive Justin Ash told BBC Radio Four's Today programme.

It came as Spire - the UK's second largest healthcare firm - reported a 7.9% drop in pre-tax profits to £8.2m for the six months to July, down from £8.9m during the same period last year.

Revenue fell 1.1% to £475.6m.

The company also named John Forrest, former chief operating officer of pub operator Greene King's retail operations, as its new chief operating officer.

IWG and Spire lead fallers

London Stock Exchange sign
Getty Images

Hargreaves Lansdown, the investment firm, is reporting its full-year results on Tuesday but its shares are leading the FTSE 100 risers today - up 1.73% at £21.13.

Meanwhile, Royal Bank of Scotland, which published its latest financials on Friday is the biggest faller, with its shares down 2.5% at 251.25p.

The wider FTSE 100 is up 9.28 points at 7,668.38.

On the FTSE 250, Regus-parent company IWG dominates the fallers, down 23.1% at 230.65p after it called off talks with potential buyers.

It is closely followed by Spire Healthcare, down 21.9% at 192.85p, which issued a profit warning on lower spending by the NHS.

The FTSE 250 is up 35.28 points at 20,670.61.