Business
UK Private Healthcare Giant Agrees £1.03bn Takeover Deal
Spire Healthcare has agreed to a £1.03 billion takeover that will take one of the UK's largest private healthcare operators into new ownership. Th...
By Wavers News
The deal will see a consortium involving Toscafund Asset Management, Three Hills and Ares acquire the company for 250 pence per share in cash. The offer values Spire's entire share capital at approximately £1.03 billion and represents a premium of about 66% to its share price before the takeover process began.
Spire operates 38 hospitals and more than 55 clinics across England, Wales and Scotland. The company treated more than 1.36 million patients in 2025, serving private patients as well as people receiving care through the NHS.
The takeover follows a strategic review launched by Spire as the company faced rising operating costs and uncertainty across the private healthcare sector.
The company's board has backed the offer, saying the 250-pence-per-share proposal was the highest formal proposal received during the review and offered shareholders a clear cash return. Shareholders representing about 53.4% of Spire's shares have already agreed to support the deal.
The transaction will also bring changes to Spire's leadership, with Chief Executive Justin Ash and Chairman Sir Ian Cheshire set to leave their respective positions as the ownership transition progresses.
The new ownership is expected to give Spire greater flexibility to invest in its hospitals, technology and workforce while pursuing longer-term growth in Britain's healthcare market.
The takeover is subject to shareholder and court approval, with completion expected in the fourth quarter of 2026 or the first quarter of 2027 if the required conditions are satisfied.
The agreement marks a major development for Britain's private healthcare sector and could further increase consolidation among large healthcare providers.