The private healthcare company said the deadline for a formal offer had been extended to 6 August following due diligence progress.

A Spire Healthcare spokesperson said: ‘Toscafund has confirmed to the board that its due diligence process is well advanced and that it continues to work towards the announcement of a 250 pence per Spire Healthcare share recommended offer.

‘Given the progress being made on due diligence and transaction documentation, Toscafund requested that the board grants a further extension to enable it to finalise its financing arrangements, which are also well advanced and include seeking a private credit rating.

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