Spire Healthcare Group said Saturday it had agreed to be acquired by a consortium comprising funds managed by Toscafund Asset Management, Three Hills and Ares, valuing its share capital at about £1,026 million ($1.39 billion). The 250-pence-a-share offer represents a 66% premium to Spire's market capitalisation on May 13, the last day before the company disclosed it had received an offer, and was agreed shortly before a deadline expired. Chair-Designate Debbie White said the company had improved care quality, diversified revenue and increased efficiency, but faced a volatile sector outlook and material cost pressures from higher national insurance contributions and the national minimum wage. Shareholders representing 53.4% of the stock had agreed to support the offer.