Spire Healthcare to go private in £1.03 billion takeover by Toscafund
Spire Healthcare has accepted a £1.03 billion offer from Toscafund, valuing the company at 250p per share and taking it off the London market.
Spire Healthcare announced that it will be taken private after accepting a £1.03 billion bid from Toscafund, its second-largest shareholder. The offer of 250p per share represents roughly a 66% premium to the closing price on May 13, the last day before takeover talks became public. The deal will remove Spire from the London Stock Exchange, giving the new owners greater flexibility to invest and pursue growth, including possible M&A activity.
A subsequent year-long strategic review may lead to restructuring of the private GP network and could result in job reductions. The company highlighted ongoing cost pressures such as inflation, higher national insurance contributions and minimum-wage increases. Leadership will change as chief executive Justin Ash steps down, with Sir David Sloman taking over on an interim basis. Shares rose about 3% following the announcement.
Why it matters
The deal could reshape the UK private-health market and affect thousands of employees and employer health contracts.
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