The private healthcare provider acquired the physiotherapy business for £5.2 million to expand its primary care offerings. 

Spire Healthcare, Britain’s second-largest provider of private healthcare, has acquired Physiolistic, a physiotherapy business operating multiple clinics in the Thames Valley area, for £5.2 million. 

Founded in 2007 and employing 20 physiotherapists, Physiolistic operates three clinics in Henley, Reading and Windsor. The company has delivered what Spire calls “significant revenue growth” over the past three years through the launch of its Henley and Reading clinics and since its Windsor clinic opened in May last year.

“The acquisition of Physiolistic complements our existing business and supports our strategy of selectively expanding our primary care offering,” said Spire chief executive Justin Ash. 

Physiolistic is Spire’s first acquisition of a physiotherapy business and, he said, fits well with the existing hospital business and the company’s fast-growing occupational health business. 

Growth opportunities

Last year, Physiolistic carried out approximately 43,000 appointments. The business has high patient retention rates with 85% of new patients re-booking for at least one follow-up appointment. It is a provider of physio services to all major insurance providers, including AXA, Bupa, Vitality and WPA.

It is also one of only a handful of clinics in the UK to have achieved Quality Assured Clinic status and is the only private physio clinic business in England to provide both inpatient and outpatient physiotherapy services to a Spire hospital..

Spire said that growth opportunities through the acquisition came from driving diagnostic and orthopaedic surgery referrals from Physiolistic to local Spire hospitals; Physiolistic capturing referrals from Spire’s Primary Care regional corporate musculoskeletal occupational health services; and future new clinic openings.

In May, Spire Harrogate Clinic invested £3.5 million in diagnostic technology, which can now offer same-day magnetic resonance imaging appointments. The previous month, it moved further into the occupational health space in April with the acquisition of Cheshire-based Acorn Occupational Health for £3.3 million.