Spire Healthcare Agrees £1bn Takeover Bid From Hedge Fund Toscafund
Britain's largest private hospital operator has accepted a 250p-a-share offer from an investor group led by Toscafund Asset Management, amid concerns over the growing role of private capital in healthcare.
Spire Healthcare, described as the UK's biggest private hospital operator, has agreed to a takeover by a hedge fund manager known as "the Rottweiler" for his aggressive business tactics, according to The Guardian.
The company said it had accepted an offer of 250p a share from an investor group led by Toscafund Asset Management, valuing the business at approximately £1.03bn, The Guardian reported.
Spire Healthcare owns several hospitals across the UK, including the Claremont hospital in Sheffield and St Anthony's hospital in south London, per the report.
Toscafund was founded by a City figure who has earned the nickname "the Rottweiler" for his aggressive business approach, according to the source.
The Guardian noted that the deal comes amid concerns about what some have described as the creeping privatisation of the National Health Service in Britain.
Further details of the transaction, including regulatory approvals and completion timelines, were not specified in the available reporting.
Sources
- UK’s biggest private hospital firm Spire agrees £1bn takeover by hedge fund — The Guardian — Business
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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