Britain's second-biggest private hospital operator has agreed to a £1bn takeover by hedge fund manager Toscafund.
Spire Healthcare, which owns the Claremont hospital in Sheffield and St Anthony's hospital in south London, has agreed to a 250p-a-share offer led by Toscafund Asset Management, which values the business at £1.01bn.
The takeover follows a lengthy period of negotiation between Spire and Toscafund, which was already the second biggest shareholder in the business.
The company operates 38 private hospitals and more than 60 clinics across England, Wales and Scotland, which together provided care to 1.36 million patients in 2025.
The deal comes despite concerns about the creeping privatisation of the health service.
A study in April found that private companies providing services to the NHS, including healthcare and consultancy, have together made £1.6bn in profit over the past two years.
Spire had previously been in talks with the private equity companies Bridgepoint and Triton, although they fell through when both pulled out in March.
Spire had announced a strategic review last September, telling investors that it was in discussions with several parties to explore a potential sale of the business.
Shares in Spire, which is a member of London’s FTSE 250, rose by 3.2% in early trading on Monday to about 246p.
The company’s biggest shareholder is Mediclinic, a private healthcare group founded in South Africa.
