News Article

US-based healthcare organisation Healthspan Partners has reached an agreement to acquire Centric Health, the leading primary healthcare provider in Ireland.

The transaction, which involves a fast-growing network of primary care clinics, marks a significant shift in ownership for the Dublin-based business which has been under the control of Five Arrows, the alternative assets division of Rothschild and Company, since 2018.

Founded in 2003 by Dr Maurice Cox and Dr Ray Power, Centric Health has expanded from a single clinic in north Dublin to a substantial international operation. The group currently manages 90 primary care locations across the Republic of Ireland, where 420 general practitioners provide essential services to more than 700,000 patients. Beyond its dominant domestic presence, the company has established a growing footprint in the Netherlands and Germany, operating 11 and 23 clinics in those respective markets.

For investors and operators, the deal underscores the continued consolidation and institutionalisation of primary care across Europe. Centric Health reported a total turnover of €143.9m in 2024, representing a 13.5 per cent increase over the previous year. This revenue was comprised of €76.2m from private clients and €67.6m from medical card business, with the Irish market accounting for 80 per cent of total generated income.

The partnership is intended to support an ambitious growth strategy across Ireland, Germany, and the Netherlands. Dr Cox, who will remain as chief executive and retain a minority stake, noted that Healthspan Partners brings the global networks and financial support necessary to drive further clinical innovation. Operationally, the clinics will maintain their existing branding and clinical independence, ensuring that patient services remain unaffected during the transition.

The completion of the deal remains subject to approval by the Competition and Consumer Protection Commission and other relevant regulatory bodies, and financial details were not disclosed.