Spire Healthcare has received a non-binding proposal from Toscafund Asset Management, the UK hospital group’s second largest shareholder, regarding a possible cash offer of 250 pence per share for the firm’s ordinary share capital, valuing the company at £1bn (US$1.35bn). Spire has said that the possible offer is at a value that the board would be minded to recommend, should a firm intention to offer be announced.
The announcement follows a number of earlier proposals from Toscafund regarding a possible offer for Spire Healthcare submitted in the context of a strategic review it announced in September 2025.
In March, Bridgepoint and Triton backed away from a potential take-private bid.
Spire has also provided an update on trading in the first four months of the year to April 2026, which it said was in line with our expectations. “Private patient revenue has continued to grow strongly, particularly self-pay; with NHS revenue also as expected,” it said. And expects full year adjusted EBITDA to be broadly in line with FY25.
UK investment bank, Peel Hunt, sees greater value in the company than a 250p offer given the UK landscape only moving in one direction for private care. It has a target price of 282p. It’s share prices is currently quoted 221p, up 47% from yesterday’s close of 150p.
