Spire Healthcare, the UK's largest private hospital operator, has agreed to a £1bn takeover led by hedge fund Toscafund Asset Management, in a deal that has raised fears over the creeping privatisation of the NHS.
Key facts
- Spire Healthcare has agreed a takeover valued at £1.03bn.
- The offer is 250p a share from an investor group led by Toscafund Asset Management.
- Toscafund was founded by a City figure known as 'the Rottweiler' for aggressive business tactics.
- Spire owns the Claremont hospital in Sheffield and St Anthony's hospital in south London.
- The deal comes amid fears over creeping privatisation of the NHS.
Britain’s biggest private hospital operator has agreed to a £1bn takeover by a hedge fund manager, according to the Guardian. Spire Healthcare has accepted a 250p a share offer from an investor group led by Toscafund Asset Management, valuing the business at £1.03bn.
Spire Healthcare owns hospitals across the UK, including the Claremont hospital in Sheffield and St Anthony’s hospital in south London, the Guardian reported.
Toscafund was founded by a City figure known as ‘the Rottweiler’, a nickname earned for his aggressive business tactics, according to the report.
The Guardian said the agreement comes amid fears over the creeping privatisation of the NHS, framing the deal in the context of wider concerns about the involvement of private capital in Britain’s healthcare sector.
As the largest private hospital firm in the country, Spire’s ownership change is being closely watched by observers of both the healthcare and financial sectors.
Why it matters
Spire is the UK's biggest private hospital operator, so a change of ownership carries implications for patients and the wider healthcare landscape. The involvement of a hedge fund has amplified longstanding concerns about the role of private capital in health services connected to the NHS.
Frequently asked questions
How much is the Spire Healthcare takeover worth?
The deal values Spire Healthcare at £1.03bn, based on an offer of 250p a share, according to the Guardian.
Who is taking over Spire Healthcare?
An investor group led by Toscafund Asset Management, a hedge fund founded by a City figure known as 'the Rottweiler', has agreed the takeover.
Which hospitals does Spire own?
Spire owns hospitals including the Claremont hospital in Sheffield and St Anthony's hospital in south London, according to the Guardian.