Press Release - May 2026

• Private hospitals' revenue again rose by just over 5% in 2025, amid growing demand for private healthcare services, particularly that linked to health insurance policies, and the progressive rollout of advanced medical technology at sites.

• Business integration processes continue to reinforce the concentration of sector supply, with the ten leading operators holding 52.5% of market value in 2025.

• INFORMA's DBK Sectoral Observatory recently published these insights in the 'Private Hospitals' Sectoral Report.

Madrid, 19 May 2026.- According to INFORMA's (Cesce's subsidiary) DBK Sectoral Observatory—a leading provider of business, financial, sectoral, and marketing information in Spain and Portugal—the private hospital management market reached €14.63 billion in 2025, up 5.3% year-over-year. The sector therefore recorded five consecutive years of growth rates above 5%.

This favourable performance was driven by rising demand for private healthcare services, amid an environment marked by saturation in the public healthcare system and private operators' push for technological modernisation, aimed at improving sites' diagnostic and therapeutic capabilities.

The main growth driver again was the insurers, mutuals and entities collaborating with the Social Security segment, whose revenue rose to €8.46 billion. In 2025 it posted growth of 7.0%, now accounting for 58% of total market value.

Meanwhile, revenue from contracts with the public healthcare system reached €4.805 billion, with more moderate growth, near 3%, accounting for just under one third of sector turnover.

Revenue generated by purely private clients contributed the remaining 9% of the market, standing at €1.365 billion, also up 3% from the previous year.

As for the supply structure, in 2025 there were 420 private hospitals operating in Spain, with a combined total of 46,552 beds, putting average capacity per site at 111 beds and confirming the predominance of small clinics.

Site acquisitions and merger transactions led by the main groups continued to intensify the sector's concentration. In this context, the top five operators held a combined market share of 43.6%, rising to 52.5% when considering the top ten groups.

Data Synthesis