Spire Healthcare (LSE:SPI) has confirmed that it is in preliminary discussions with private equity groups Bridgepoint Advisers and Triton Investment Advisers, following media speculation around potential interest in the business. The talks form part of the strategic review the company initiated in September 2025.
Operational and financial highlights
The company stressed that discussions remain at an early stage and may or may not result in a formal takeover proposal. Under UK takeover regulations, both Bridgepoint and Triton face a deadline of 21 February 2026 to either announce a firm intention to make an offer or confirm that they do not intend to proceed. While the situation raises the prospect of meaningful corporate change, there is currently no certainty around outcomes for shareholders, employees or other stakeholders.
From a fundamentals perspective, Spire’s investment case is supported by solid revenue growth and improvements in operational efficiency. However, elevated leverage and relatively low net profitability remain key areas of concern. Market technicals point to bearish momentum in the shares, while valuation metrics suggest the stock may already be pricing in a degree of optimism.
More about Spire Healthcare
Spire Healthcare Group is one of the UK’s leading independent healthcare providers, operating 38 hospitals alongside more than 50 clinics, medical centres and consulting rooms across England, Wales and Scotland. The group also runs private GP and occupational health services for over 800 corporate clients and works with more than 8,700 consultants, delivering care to over one million patients each year. It is the UK’s largest private provider of knee and hip operations by volume and offers a mix of private and NHS services, including mental health, musculoskeletal and dermatology care through its Vita Health Group brand. Spire is listed on the London Stock Exchange and is a constituent of the FTSE 250 index.
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