Spire Healthcare confirms early-stage takeover talks with Toscafund Asset Management at 250p per share

UK private hospital operator Spire Healthcare has disclosed that it is in early-stage discussions with Toscafund Asset Management regarding a possible cash takeover offer, in a development that sent the company's shares surging by 45% in morning trading on May 14.

According to the Irish News, Toscafund has proposed a cash bid of 250p per share, which would value the FTSE 250-listed hospitals group at approximately £1.01 billion. Toscafund is already Spire's second-largest shareholder, holding an 18% stake in the business, while its largest shareholder, Mediclinic, owns nearly 30%.

Spire operates 38 private hospitals and more than 60 clinics across England, Wales and Scotland, making it one of the most significant independent private hospital operators in the United Kingdom. The group provides a broad range of elective and specialist services to both insured and self-pay patients.

The approach by Toscafund comes at a time of heightened activity across the UK private healthcare sector, where sustained demand for elective procedures, combined with pressure on NHS waiting lists, has reinforced the strategic value of established private hospital networks. A successful takeover would consolidate Toscafund's position from a passive minority investor to outright owner of one of the country's leading private healthcare platforms.

Spire's shares were trading at close to 220p following the announcement, reflecting the market's response to the proposed premium over the pre-announcement price.

The discussions remain at an early stage and no binding agreement has been reached. Toscafund has not yet made a formal offer, and there is no certainty that a transaction will proceed.

Read the full story on the Spire Healthcare takeover approach.