Spire Healthcare (LON:SPI) shares have jumped more than 6% on Friday after the company confirmed it is exploring a range of strategic options, including the possibility of a sale, following recent media speculation.
The private hospital group said it is working with its lead financial adviser Rothschild & Co and has begun discussions with several parties to consider ways to boost long-term shareholder value.
However, it stressed the process is “highly preliminary” and that no decisions have yet been made.
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“There can be no certainty either that any offer will be made for the Company nor as to the terms of any offer, if made,” Spire said in its statement.
The board added that the company is not currently in receipt of any approaches and is not in direct talks over a potential sale.
Spire pointed to progress on its efficiency and strategic initiatives, as well as the strength of its freehold property and “well-invested asset base,” which it believes are not fully recognised by the market.
At its interim results in August, the company reported encouraging momentum in both patient volumes and cost-saving programmes.
As a result of the announcement, Spire is now in an “offer period” under UK takeover rules, which requires shareholders and interested parties to comply with disclosure requirements.
The Takeover Panel has granted a dispensation allowing Spire not to identify any potential suitors unless named in market speculation.
The board said further updates would be made “in due course.”
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