Toscafund Asset Management, led by Martin Hughes, is a London-based investor and Circle Health stakeholder. It has roots in Tiger Management circles and is known for aggressive, activist-style investing. This week it made a 250p per share bid approach for Spire Healthcare, sparking concerns about NHS privatisation.
Spire Healthcare has agreed to be taken private by Tulip UK, a group backed by Toscafund, THCP Advisory and Ares Management. The deal values Spire at about £1.03bn on a fully diluted basis and includes a plan for a year-long strategic review after completion. Chief executive Justin Ash will step down and be replaced temporarily by Sir David Sloman.