Mortgage rates ‘days away from wholesale increases’<\/a> <\/p>\nAs Spire’s executive chairman – assuming the deal with Toscafund goes through – Mr Pieri will oversee a company comprising 38 hospitals and more than 60 clinics across the country. <\/p>\n
Last year, it treated close to 1.4 million inpatients, outpatients, day case patients and workplace health clients. <\/p>\n
It is the biggest provider by volume of hip and knee operations in Britain. <\/p>\n
Spire is currently run by veteran boss Justin Ash, who previously ran the dentistry chain Oasis. <\/p>\n
Sir Ian Cheshire, Spire’s chairman, recently announced that he would step down from the role regardless of the takeover going through. <\/p>\n
Spire’s board has already said it would recommend Toscafund’s 250p-a-share offer for the company, with discussions around financing arrangements having prompted a series of deadline extensions from the Takeover Panel. <\/p>\n
One banking source said the two sides were working towards finalising a deal ahead of a deadline on Thursday, but cautioned that there remained an outside chance that a further extension of as little as 24 hours might be required. <\/p>\n
The financing for the deal is understood to be being provided by a syndicate comprising Song Capital, Ares Management and Three Hills Capital Partners, according to City insiders. <\/p>\n
Song Capital, which previously helped finance deals involving Circle and Nuffield, another healthcare group, is said to have committed roughly \u00a3500m to the Spire takeover in long-term property financing secured against the majority of Spire’s freehold hospitals. <\/p>\n
A Spire spokesman declined to comment. <\/p>\n
Neither Toscafund nor Song Capital could be reached for comment, while Ares has been contacted for comment. <\/p>\n","protected":false},"excerpt":{"rendered":"The investment firm which is on the verge of buying Britain’s biggest private hospitals group is planning to…\n","protected":false},"author":2,"featured_media":760391,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[251098,251097,102,2960,251100,251095,251099,226888,200244,251096,251094,56,54,55],"class_list":["post-760390","post","type-post","status-publish","format-standard","has-post-thumbnail","category-healthcare","tag-circle-and-nuffield","tag-circle-health","tag-health","tag-healthcare","tag-paolo-pieri","tag-pieri","tag-song-capital","tag-spire","tag-spire-healthcare","tag-toscafund","tag-toscafund-asset-management","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/760390","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=760390"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/760390\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/760391"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=760390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=760390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=760390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}