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Spire Healthcare agrees 1 billion pound takeover by Toscafund
The deal values Spire at 1.03 billion pounds and includes an offer of 250 pence per share.
Spire Healthcare, the UKs biggest private hospital operator, has agreed to be taken over by Toscafund Asset Management in a 1.0 billion pound deal, valuing the business at 1.03 billion pounds, according to the Guardian Business. The investor group will make a 250 pence per share offer.
The transaction comes after a lengthy negotiation period, with Toscafund already the second biggest shareholder in Spire. Spire said the group would be able to provide backing to pursue growth and investment, and Toscafund founder Martin Hughes, known as “the Rottweiler” for his vocal activist approach, said the fund has backed healthcare businesses to grow and improve.
Spire operates 38 private hospitals and more than 60 clinics across England, Wales and Scotland, and provided care to 1.36 million patients in 2025. The agreement follows earlier talks with private equity firms Bridgepoint and Triton that ended in March after both pulled out.
The Guardian Business notes the deal has drawn concerns about creeping privatisation of the NHS. Spire also cited pressure from rising costs, including national insurance contributions and a higher minimum wage, and said it faced much volatility without a buyer.