Across European healthcare, providers are pursuing different routes to growth. Some are growing through acquisition, others are expanding into new geographies or launching new products and services, while large platforms are looking to make better use of their scale.
HBI selected the following five examples from our recent coverage and indicate the wider trends behind them.
#1.
Bergman Clinics:
Scaling the outpatient model
Bergman Clinics has developed into one of Europe’s largest multinational outpatient providers, with 150 clinics across the Netherlands, Scandinavia and Germany. Revenue reached €700 million in 2025, more than double its €300 million revenue in 2019.
A focus on high-volume elective procedures has allowed the group to standardise care pathways across its network while benefiting from the wider shift towards outpatient treatment. Germany could provide significant growth opportunities for Bergman to expand beyond its existing ophthalmology and dermatology offering as the country looks to move more procedures away from inpatient settings.
Why we're watching: Bergman’s scale allows it to standardise high-volume elective care across multiple markets, putting the group in a strong position as more treatment moves from hospitals into outpatient settings.
#2.
Smile Dental Care:
Steady growth in UK dentistry
Smile Dental Care is continuing to expand within a fragmented UK dental market, but founder and CEO Pip Dhariwal is taking a deliberately measured approach to growth.
The group operates more than 50 practices and expects to add around five to eight each year, balancing acquisitions with organic growth. Around 80% of the business remains NHS-funded, giving Smile Dental a distinctive position as many operators place greater emphasis on private dentistry. With Dhariwal also expecting smaller dental groups to become increasingly active buyers, the company is worth watching as consolidation continues across the sector.
Why we're watching: Smile Dental’s steady approach to acquisitions, combined with its continued focus on NHS dentistry, makes it an interesting operator to follow as consolidation in the UK dental market continues.
#3.
Cosmea Pflege:
Growing close to home
German home care provider Cosmea Pflege is returning its attention to acquisitions after spending several years integrating its existing operations and strengthening its operating model.
The group now operates around 25 care units across six German federal states and generates annual revenue of almost €40 million. CEO Tomas Aubell told HBI that Cosmea plans around €10 million of acquisitions this year, primarily targeting smaller providers close to its existing operations. Rather than expanding nationwide, the group wants to build greater density within its current regions and increase its share of highly fragmented local markets.
Why we're watching: Cosmea is returning to acquisitions after several years focused on integration, with a clear strategy of building greater scale in the regions where it already operates.
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#4.
Gold Care Homes:
Building larger care homes for future demand
Gold Care Homes is growing through both acquisitions and the development of larger, purpose-built facilities across London, the South East and southern England.
The family-run provider operates more than 47 facilities with around 3,000 beds. The focus for future developments is increasingly on self-funded residents, gradually changing a payer mix that is currently around 70% local authority-funded as financial pressure on publicly funded social care continues.
Why we're watching: Gold Care Homes is adapting its growth strategy to the changing economics of UK social care, with larger purpose-built homes and a greater focus on self-funded residents becoming increasingly important.
#5.
Veonet:
Integrating a pan-European ophthalmology group
Pan-European ophthalmology group Veonet is entering its next phase of growth after expanding its presence across several European markets, including recent moves into Portugal and Ireland.
Group CEO Sebastian James says the immediate priority is strengthening and integrating existing operations, particularly in Germany, while continuing to pursue selective acquisitions. Spain, Portugal and Switzerland also offer further consolidation opportunities. Veonet is around five years into its current ownership structure, while renewed investor interest in healthcare services adds another reason to watch the group closely.
Why we're watching: Veonet is focused on strengthening the businesses it already owns while continuing to make selective acquisitions across Europe. The group is also around five years into its current ownership structure, at a time when investor interest in healthcare services is picking up.
What these five providers tell us about the market
Taken together, these providers show how differently healthcare groups are approaching growth across Europe, from expanding outpatient models and building regional scale to integrating acquisitions and adapting to changing payer mixes. While the strategies vary, each reflects the wider pressure on providers to grow in a way that is operationally sustainable.
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