News Article

Spire Healthcare has received a £1.01 billion buyout proposal from its second largest shareholder, sending shares in the private hospital operator surging.

On May 14, London based investment firm Toscafund Asset Management, which already holds an 18 per cent stake in Spire, tabled a non-binding cash offer of 250 pence per share – a 66 per cent premium to the company’s last closing price.

The board of Spire Healthcare confirmed it has carefully evaluated the approach alongside its financial advisers. Despite expressing confidence in its standalone strategy, the board stated it would be minded to unanimously recommend the offer to shareholders if firm terms are agreed. This development follows a prolonged period of bid speculation surrounding the healthcare provider, which held early stage discussions with private equity firms Bridgepoint and Triton earlier this year before those talks collapsed in March. Under United Kingdom takeover rules, Toscafund has until June 11 to submit a formal offer or walk away.

Running parallel to the takeover developments, Spire released a reassuring trading update for the first four months of the year.

The company reported performance in line with expectations, driven by strong growth in private patient revenue and robust self pay volumes. Spire operates a large network of 38 private hospitals and over 60 clinics across the country.