Spire Healthcare overhauls board amid £1bn private takeover
The chief executive and chair of Spire Healthcare have stepped away amid a £1bn takeover of the London-listed private hospital group. Veteran boss Justin Ash has said he will retire from the group as it “enters a new phase with strong foundations” under its new ownership by a consortium of investors. Spire’s board have agreed [...]
Spire Healthcare, a London-listed private hospital group, is undergoing a major overhaul as it prepares for a £1bn takeover. The company's chairman and CEO have announced their departure, signaling a new era for the organization. The consortium behind the takeover, Tulip UK Bidco, includes Toscafund, THCP Advisory, and Ares. The deal values Spire at £1.03bn, representing a 66% premium to the company's share price at the beginning of May when the takeover interest was first disclosed.
As part of the transition, interim CEO Sir David Sloman and interim chair Debbie White will take charge, replacing Justin Ash and Sir Ian Cheshire respectively. The consortium believes that the private acquisition will provide strategic and financial flexibility to unlock long-term stakeholder value, as the current share price does not accurately reflect the group's growth prospects.
Spire operates 38 private hospitals and 55 clinics across the UK and served over 1.36 million patients in 2025. The takeover follows a strategic review conducted by advisory firm Rothschild, which saw the group engage with more than 60 potential buyers. The London Stock Exchange has experienced a surge in private takeover deals in recent months, impacting the strength of the UK's public markets.
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