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Britain’s largest operator of private hospitals is in talks with a pack of buyout firms about a takeover that would result in it becoming the latest FTSE-250 company to disappear from the London stock market.
Sky News has learnt that private equity firms including Bridgepoint and Triton Partners are exploring bids for Spire Healthcare Group, which runs nearly 40 of the UK’s biggest private hospitals.
City sources said the pair were among a broader group of parties which had expressed interest in making offers for the company ahead of a deadline set by its advisers this week.
Advent International and Bain Capital are also said to have made contact with Rothschild, which is running the process, but are not expected to progress further.
Chaired by Sir Ian Cheshire, the City grandee who has run DIY chain B&Q’s parent, Kingfisher, and now also chairs the commercial property group Land Securities, Spire’s board is said to be keen to progress discussions with prospective bidders in the coming weeks.
If it progresses, any deal about a takeover of the company is expected to be agreed within the next few months, an insider said this weekend.
A number of other financial investors and overseas trade buyers are also thought to be part of the process, which was initiated amid pressure from major shareholders.
Bridgepoint’s interest is particularly intriguing because it was the owner of Oasis Dental Care, a large dentistry chain, during a period it was run by Justin Ash – who is now chief executive of Spire.
Triton Partners is an experienced healthcare industry investor, owning assets such as Pharmanovia, a speciality producer of prescription medicines.
In addition to its hospitals network, Spire runs more than 50 clinics, medical centres and consulting rooms across the UK.
It is the largest provider of hip and knee operations in the country.
The company also operates a network of private GP practices, as well as providing occupational health services to…
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