Top PE-backed hospital groups in EMEA- 2025 revenue
This week’s infographic looks at the top 5 PE-backed hospital groups in EMEA by their 2025 revenues.
This data has been sourced from the HBI Intelligence database.
Elsan leads the ranking with ~ €3,300 million in revenue, backed by KKR, Ardian, Mérieux Equity Partners and BNP Paribas Développement. Mehiläinen follows with ~€3,100 million in group revenue, backed by CVC Capital Partners and Hellman & Friedman. Vivalto Santé ranks third with ~ €1,790 million in consolidated revenue, backed by Vivalto Partners and IK Partners. MEDIAN reports ~ €1,306 million in revenue from its German hospital and rehab operations, majority‑owned by Waterland Private Equity. Almaviva Santé rounds out the top five with ~ €655 million in revenue, backed by Antin Infrastructure Partners.
Note: Only hospital groups where a PE fund holds a majority or controlling stake are included in this ranking. Groups majority-owned by private family holding companies, corporate strategics, or non-PE investment vehicles are excluded. AMEOS (majority-owned by the Hartmann family, with Patria Investments holding a minority stake, not a PE-controlled group). Penta Hospitals (majority-owned by Penta Investments, a private holding company rather than a traditional PE fund) and Bergman Clinics (a specialist elective outpatient clinic network rather than a full-service hospital group) were therefore not included.
We would welcome your thoughts on this story. Email your views to Dhwani Gupta or call 0207 183 3779.
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