Spire Healthcare, the UK’s largest private hospital group, is in preliminary discussions with private equity firms over a £1.5bn takeover, potentially taking the company private and delisting it from the London Stock Exchange.
Private equity groups Bridgepoint Advisers and Triton Partners are among the bidders exploring offers for Spire Healthcare.
Other firms, including Advent International and Bain Capital, have also held discussions with the company’s advisers, though formal bids are yet to be submitted.
The news has already driven Spire’s share price higher, with shares surging around 20% as investors reacted to the possibility of a premium takeover bid.
Spire confirmed it is in talks as part of a strategic review launched in 2025 to explore ways to unlock shareholder value amid concerns that the company’s public valuation does not reflect its hospital estate’s worth.
The company said it had “commenced discussions with a number of parties in relation to a range of potential options, which may include (but is not limited to) a potential sale of the company.”
Spire reiterated in December 2025 that discussions were ongoing, with no certainty of any offer.
In recent years, the company has faced slower NHS contract growth and rising costs, putting pressure on its overall profitability.
Potential impact on NHS services
Spire, which invested £1.5 m in new hospital beds across its network in 2021 as part of wider facility upgrades, continues to operate 38 hospitals and more than 50 clinics across the UK.
It provides a mix of private patient care and NHS‑referred services, with over 1.3 million patients treated in 2024.
Analysts warn that a private equity takeover of Spire could affect NHS service delivery, as the group performs thousands of NHS-funded procedures annually.
While new ownership might bring investment in facilities and private patient services, restructuring could disrupt contracts, staffing, or service priorities.
Industry observers stress that continued collaboration with NHS trusts will be key to maintaining patient care.
What is ahead?
There is no certainty that a deal will be completed, and negotiations may continue over the coming months.
If finalised, the transaction would follow a broader trend of private equity investment in UK healthcare, where investors look to consolidate assets and unlock property value while maintaining ongoing NHS collaborations.