The takeover was also recommended by majority shareholder Mediclinic
Spire Healthcare PLC (LON:SPI) said it recommends the proposed £999mln cash offer put forward by Ramsay Health Care.
Shareholders will receive 240p, which represents a 24.4% premium to Tuesday’s closing price.
The FTSE 250 group said the acquisition will boost its strategy growth, while Ramsay said the combination builds a broader platform to take advantage of the opportunity for sustained growth in the £5.8bn UK private hospital sector.
“Ramsay will work closely with the Department of Health & Social Care to ensure all shared objectives are closely aligned and we stand ready to support the NHS in tackling the significant increase in waiting lists and the return of elective procedures in the UK,” said chief executive and managing director Craig McNally.