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Ramsay splashes $1.8b on UKâs Spire Healthcare
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Ramsay Health Care has agreed to buy listed British company Spire Healthcare Group in a deal that values the target at £2.064 billion ($3.7 billion) including assumed debts.
The acquisition will transform the Australian healthcare giantâs UK business into a leading private healthcare provider, diversifying Ramsay UKâs payer sources and case mix at the same time.
Ramsay Health Care CEO Craig McNally says the Spire deal is reminiscent of Ramsayâs purchase of Affinityâs Australian hospitals in 2005.Â
Cole Bennetts
The nationâs largest private hospitals operator has offered £2.40 a share in cash to acquire Spire through a scheme of arrangement. The agreed price represents a premium of 24.4 per cent to the closing price of Spire shares on May 25 â the day before the deal was announced.
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