The initial bid was made in May after Spire Healthcare terminated takeover talks with private equity firms Triton and Bridgepoint in March.

Debbie White, Spire's chair-designate, who succeeds chair Sir Ian Cheshire on an interim basis, said: ‘As an experienced healthcare investor and the company's second largest shareholder, Toscafund has deep knowledge and experience of the business and its operations, and Toscafund has assured the board of Spire that it is committed to providing the highest standards of care to patients.'

While noting the Spire's recent progress and the strong outlook for private healthcare, White noted it had seen ‘much volatility in recent years' as well as material ‘ongoing cost pressures', including  increases in National Insurance contributions and the National Minimum Wage.

As part of leadership changes chief executive Justin Ash is also stepping down to be replaced by on an interim basis by non-executive director and vice chair Sir David Sloman.

Ash said: ‘As the business enters a new phase with strong foundations, now is the right moment for me to step away. I am incredibly proud of what the company has achieved over my nine years as chief executive. It has been a privilege to work alongside such a talented and deeply committed team of colleagues across the business, delivering high-quality care to patients every day.'