Private healthcare group Spire has revealed it is in talks regarding a possible takeover by a group of private equity firms that could see it valued at £1.5 billion.
The FTSE 250 company said it was in discussions with buyers, including private equity groups Bridgepoint and Triton, but stressed they were at a ‘preliminary stage’ with no certainty of an offer.
Nevertheless, it will fuel fears of another major company disappearing from the London Stock Exchange.
Under City takeover rules, Bridgepoint and Triton have until 5pm on February 21 to table a formal offer for the company or walk away.
Preliminary discussions: Private healthcare group Spire has revealed it is in talks regarding a possible takeover by a group of private equity firms
A £1.5 billion price tag would value the business at more than double its current market cap of £724 million.
Any takeover deal is likely to be agreed within the next few months, Sky News reported an insider as saying.
Bridgepoint already has a connection with Spire through its previous ownership of dentistry chain Oasis, which at the time was run by the healthcare firm’s current boss, Justin Ash.
Spire runs around 40 of the UK’s biggest private hospitals and also operates a network of private GP practices and occupational health services for businesses.
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