Spire Healthcare Group has sold one of its leasehold hospitals, Spire Tunbridge Wells, to the Maidstone and Tunbridge Wells NHS Trust, a major acute hospital trust in the Southeast.

The transaction includes the sale of the business and assets of Spire Tunbridge Wells.

The consideration was £9,975,000 and the sale was completed on 31 March.

Spire Tunbridge Wells comprises 28 beds, 10 consulting rooms, two operating theatres, and an endoscopy suite.

Approximately 130 consultants operate from the hospital.

Last year the hospital generated revenue of £12.7m and EBITDA of £1.1m.

Leasehold rent incurred during the period was £400,000 and net cash generation (excluding working capital movements) was £700,000.

Capital expenditure during the year was £400,000.

In a release to the London Stock Exchange the company stated: “Spire Healthcare remains committed to growth and takes a consistent and proactive approach to portfolio management.

“Following the transaction, the group operates 38 hospitals (19 freehold and 19 leasehold properties). This transaction reflects Spire Healthcare’s continued focus on disciplined capital allocation and meeting its stated ROCE targets.”

For the next six months or so, Spire will continue to manage the hospital operations on behalf of the trust and continue providing treatment to both private and NHS patients.

Miles Scott, MTW trust chief executive, said: “This is an exciting opportunity for the NHS in Kent and Medway and we are really pleased to be a part of it.

“It will enable us to develop planned procedures and diagnostic services and I am delighted this investment will benefit patients across our communities.

“By working in collaboration with the Kent and Medway Integrated Care Board and NHS partners the facility will enable us to improve patient experience by reducing waiting lists and supporting the increase in demand all hospitals are responding to.”