Spire Hospital Management ponders prospective sale
Spire Healthcare Considering Potential Sale, Says Chairman
In a significant development, Spire Healthcare, a prominent player in the private healthcare sector, has revealed that it is exploring various options, including a potential sale. This announcement was made by Sir Ian Cheshire, the chairman of the FTSE 250 firm.
According to reports, Spire Healthcare has appointed Rothschild & Co to review its options. The company has held discussions with a number of parties regarding potential options, although no formal takeover approaches have been received as of yet.
The unencumbered hospital portfolio of Spire Healthcare, valued at over £1.4 billion, has been a subject of bid speculation for years. The property value is not hidden and is publicly known.
The potential sale is still under review, and no decision has been made regarding whether it will be pursued. However, the current news about a potential sale is not surprising, given the share price performance, according to Panmure Liberum analyst Seb Jantet.
Spire Healthcare operates 38 hospitals and more than 50 clinics across England, Wales, and Scotland. The company's occupational health business has a management ambition to deliver £40 million in annual EBITDA over the medium term.
Harwood Capital Management, a significant shareholder owning approximately 5% of Spire Healthcare, is urging the company to review a potential sale. The board of Spire Healthcare is actively evaluating and implementing actions to drive long-term shareholder value, as stated by Sir Ian Cheshire.
Shares of Spire Healthcare increased by 13% in early trading following the news of a potential sale. Despite the market undervaluing Spire Healthcare, according to Sir Ian Cheshire, no formal takeover approaches have been received as of yet.
It's important to note that the search results do not provide information about who commissioned Spire Healthcare's advisory regarding a potential sale. The company has not yet received any approaches regarding a takeover deal.
This development comes at a time when the healthcare sector is undergoing significant changes, and companies are seeking ways to maximise their value in a competitive market. Spire Healthcare's potential sale could be a significant event in the industry, and updates on this matter will be closely watched by investors and industry observers alike.
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