Private Hospitals Giant Spire Sets Deadline for Suitors
Spire Healthcare has set a deadline of 20 January for potential suitors to express interest in a possible sale, although this is not a formal deadline for offers. The board, chaired by Sir Ian Cheshire, is exploring options to maximise shareholder value with plans targeting early 2026.
Spire operates 38 hospitals and more than 50 clinics across the UK, making it the largest provider of hip and knee operations in the country. It also runs private GP practices and occupational health services. The company's CEO, Justin Ash, is engaged in discussions with major investors, including Achilles, as part of a review following weaker share price performance.
With a market capitalisation of around £672 million and real estate assets valued at over £1.4 billion, Spire's stock has fallen more than 25% in the last year, closing at 167p on New Year’s Eve. The company confirmed in September that it was examining options, including a potential sale, but the process is ongoing and there is no certainty that any offer will be made or on what terms.
Financial advisers Rothschild are assisting in this process. In 2021, Spire rejected an offer from Ramsay Healthcare of £2.50 per share, considering it undervalued the business.
