Spire Healthcare agrees to £1.03 billion takeover

Spire Healthcare Group has agreed to a takeover by a consortium including funds managed by Toscafund, Three Hills, and Ares. The deal values the company’s share capital at approximately £1.026 billion ($1.39 billion).

The offer of 250 pence per share represents a 66% premium over the company’s market capitalization as of May 13. Shareholders representing 53.4% of the company’s stock have already agreed to support the acquisition.

Spire Chair-Designate Debbie White noted that the company has made progress in diversifying revenue and improving care quality, though she highlighted sector volatility and cost pressures, such as rising national insurance contributions and minimum wage increases. The board stated the acquisition represents the best outcome for shareholders following a strategic review.