It will pay 250p a share for the UK's largest independent hospital operator, a 66% premium, following an eight-month strategic review that drew more than 60 potential bidders.

Team GB's chief commercial officer, Tim Ellerton, said the partnership aims to support athletes heading into Los Angeles while encouraging people across the UK to prioritise their health.

Sir Ian Cheshire will step down as Chair of the private hospital group by 30 September, with senior independent director Debbie White taking over.

The deadline for Toscafund to announce a firm takeover intention for Spire Healthcare has been extended to 6 August.

Spire Healthcare Group has received a non-binding proposal from funds advised by Toscafund for a possible cash offer of 250p per share, with an option for shareholders to elect an unlisted rollover equity alternative.

It continues to target FY26 Group adjusted EBITDA broadly in line with FY25.