Spire Healthcare said on May 14, 2026 that it has received a buyout proposal from Toscafund Asset Management valuing the private hospital group at £1 billion, or 250 pence per share. The offer is about 66% above Spire's last closing price.

The London-listed operator said its board would recommend the potential cash bid to shareholders if Toscafund follows through with a formal offer. Under UK takeover rules, Toscafund must either announce a firm intention to make an offer by June 11 or walk away.

For Spire, the approach is the latest turn in a long search for a buyer. The company confirmed in January that it was in preliminary discussions with Bridgepoint and Triton over a potential takeover, but Triton withdrew in March, leaving the group to keep looking.

Spire operates 38 hospitals and more than 60 clinics across England, Wales and Scotland, and it said it delivered care to more than 1.36 million patients in 2025. The company also said trading in the first four months of the year to April 2026 was in line with its expectations, and it continued to target fiscal 2026 adjusted core profit broadly in line with fiscal 2025.

The proposal now puts pressure on Toscafund to turn interest into a binding bid quickly. If it does not, Spire will be left where it was before this offer arrived: a private hospital group still hunting for a deal, but now with a deadline and a price on the table.