14th May 2026 08:48
(Alliance News) - Spire Healthcare Group PLC on Thursday backed a takeover proposal from its second-largest shareholder Toscafund Asset Management LLP.
The London-based private healthcare provider said Toscafund made a non-binding proposal of 250 pence per share in cash, valuing the company at GBP1.01 billion.
"The proposal includes an option for Spire Healthcare shareholders to elect for an unlisted rollover equity alternative in respect of some or all of their Spire Healthcare shares. The proposal follows a number of earlier proposals from Toscafund to the board regarding a possible offer for Spire Healthcare submitted in the context of the strategic review," Spire added.
Spire shares jumped 42% to 213.36 pence each for a GBP863.9 million market capitalisation on Thursday morning in London.
Toscafund owns around 18% of Spire. Mediclinic is the FTSE 250 listing's largest shareholder, owning just under 30%.
Spire said: "Over multiple years Spire Healthcare has made significant progress in strengthening care quality, diversifying revenue streams and driving efficiencies.
"The board remains highly confident in Spire Healthcare's standalone strategy and the value creation opportunity. However, the board has carefully considered the proposal together with its advisers and has concluded that the possible cash offer is at a value that the board would be minded to recommend unanimously to Spire Healthcare shareholders."
Toscafund is in the process of undertaking its confirmatory due diligence and Spire said talks between the duo "are currently at a relatively early stage". Toscafund has until the close of play on June 11 to announce whether it plans to make an offer.
Also on Thursday, Spire said trading in the first four months of the year has been in line with expectations.
"Private patient revenue has continued to grow strongly, particularly self-pay; with NHS revenue also as expected. NHS commissioning plans reset in April 2026 with the start of the NHS 2026/27 financial year, covering Spire's Q2-Q4 FY26 and Q1 FY27. We have good visibility of volumes, with more than 85% of commissioning agreed. Those volumes are aligned with our previously communicated guidance for NHS activity in FY26 and indicate strong growth for Spire in Q1 FY27, supported by the lower base of activity in Q1 FY26," the firm said.
Spire said its GBP30 million savings target is progressing. It expects a 2026 adjusted earnings before interest, tax, depreciation and amortisation outcome in line with 2025's GBP268.6 million.
By Eric Cunha, Alliance News news editor
Comments and questions to [email protected]
Copyright 2026 Alliance News Ltd. All Rights Reserved.
Related Shares:
Spire Healthcare