![\"London](\"https:\/\/www.newsbeep.com\/ie\/wp-content\/uploads\/2026\/09\/London-Stock-Exchange-1.jpg\")
\t\tSpire Healthcare becomes the latest listed firm to quit the public market\t<\/p>\n\t\t\tSunday 06 September 2026 9:49 am
\n\t\t\t\t\t\u00a0|\u00a0\u00a0Updated:\u00a0<\/p>\n
\t\t\tSunday 06 September 2026 9:50 am\n\t<\/p>\n
\t\tSpire Healthcare becomes the latest listed firm to quit the public market\t<\/p>\n
The chief executive and chair of Spire Healthcare have stepped away amid a \u00a31bn takeover of the London-listed private hospital group.\u00a0<\/p>\n
Veteran boss Justin Ash has said he will retire from the group<\/a> as it \u201centers a new phase with strong foundations\u201d under its new ownership by a consortium of investors.\u00a0<\/p>\n Spire\u2019s board have agreed a takeover by Tulip UK Bidco, a new company comprising British investment firm Toscafund, UK private equity firm THCP Advisory and California-based investment manager Ares.\u00a0<\/p>\n The 250p-per-share deal values the takeover at \u00a31.03bn and constitutes a 66 per cent premium to Spire\u2019s share price at the start of May, when Toscafund made its first approach.\u00a0<\/p>\n Alongside Ash\u2019s departure as chief executive, chairman Sir Ian Cheshire will also step away. Sir David Sloman, who has helmed a number of NHS trusts, will take the reins as interim chief executive while former Co-op chair Debbie White will become interim chair.\u00a0<\/p>\n \u201cUnder [Ash\u2019s] leadership, Spire Healthcare has evolved from a hospital-only business into a leading integrated healthcare company,\u201d White said.\u00a0<\/p>\n White stepped down as chair of Co-op with immediate effect last month, following a tenure mired by a disastrous cyberattack and disputed claims of a \u201ctoxic\u201d work culture.\u00a0<\/p>\n \u2018Share price volatility\u2019<\/p>\n Announcing their takeover of Spire, the consortium said the value of the healthcare group\u2019s freehold property assets is not reflected in its share price.\u00a0<\/p>\n \u201cThe Bidco board believes that taking the Spire Group private pursuant to the acquisition would provide strategic and financial flexibility to unlock long-term stakeholder value,\u201d it said.<\/p>\n \t\t\t\t\tRead more<\/p>\n \t\t\tMike Ashley\u2019s Frasers ups stake in Hugo Boss after takeover bid<\/a><\/p>\n Shares in Spire closed at 242p on Friday, up 15 per cent from its IPO in July 2014. The group\u2019s share price more-than-doubled when Toscafund\u2019s takeover interest was first disclosed in May.\u00a0<\/p>\n Spire\u2019s board said it agreed to the takeover over fears that its share price could have been due for a period of \u201cvolatility\u201d and is not a fair representation of the company\u2019s growth prospects.\u00a0<\/p>\n The board said: \u201cWhile the Spire directors remain confident in the long-term prospects of the business, the Spire directors also note the ongoing challenges of delivering the company\u2019s standalone plan against a backdrop of macroeconomic volatility, cost pressures.<\/p>\n \u201cThe Spire directors consider that the prospect of a sustained and material re-rating of Spire shares in the near term is limited and, should the acquisition not proceed, that there could be a period of share price volatility.\u201d<\/p>\n Takeover flurry gains pace<\/p>\n Spire operates 38 private hospitals and 55 clinics across the UK and delivered care to more than 1.36m patients in 2025.\u00a0<\/p>\n The sale to Toscafund\u2019s consortium came following a strategic review, led by advisory firm Rothschild, which saw the group hold talks with more than 60 potential buyers.<\/p>\n The consortium \u201cwas the only party to submit a formal proposal at a level that the Spire Board considered sufficiently attractive,\u201d it said.<\/p>\n The London Stock Exchange has faced a flurry of private takeover deals in recent months, which have put significant pressure on the strength of the UK\u2019s public markets.\u00a0<\/p>\n Earlier this week, three FTSE members \u2013 Bodycote, Gamma Communications and Capricorn \u2013 revealed<\/a> on the same day that they were considering private takeover offers, totalling more than \u00a33bn.<\/p>\n \t\t\t\t\tRead more<\/p>\n