Spire Healthcare, the UK’s largest private hospital group, is being taken private in a £1 billion deal led by private equity giants Toscafund, Three Hills, and Ares—despite its shares soaring 45% this year. The four-month takeover saga, delayed five times due to financing hurdles, ends with CEO Justin Ash stepping down and Sir David Sloman taking interim charge. This move reflects a growing trend of mid-sized UK firms exiting the stock market amid economic uncertainty, inflation, and rising costs, as seen with rivals Bodycote and Gamma Communications also eyeing private deals. Spire’s exit underscores how private equity is reshaping the UK’s corporate landscape, even as long-term healthcare demand remains strong.
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