HealthSpan Partners, an affiliate of US health system Bon Secours Mercy Health, has agreed to acquire Irish GP group Centric Health and its network of about 420 GPs across 90 locations. The deal, reported on 16 October 2026, is subject to approval by the Competition and Consumer Protection Commission. No price has been disclosed.
The Irish Examiner described HealthSpan Partners as "a diversified healthcare services organisation". The Irish Times called Centric the largest player in the Irish primary healthcare market and reported, citing industry sources, that the buyer would have paid in the region of 350 million euro. Neither side has confirmed a figure. Co-founder Dr Maurice Cox will stay on as chief executive and remain a shareholder.
- Buyer: HealthSpan Partners, an affiliate of Bon Secours Mercy Health, whose Irish arm runs hospitals in Dublin, Cork, Galway, Limerick and Tralee.
- Target: Centric Health, founded in 2003, with 420 GPs at 90 locations in Ireland and more than 700,000 patients, according to The Irish Times.
- Price: not disclosed. The Irish Times reported about 350 million euro, citing industry sources.
- Approval: subject to the CCPC and other relevant regulators.
- Seller: Centric has been owned since 2018 by Five Arrows, the alternative assets arm of Rothschild & Co.
- Brand: practices will keep the Centric Health name, with "full operational and clinical independence", the company said.
What has been agreed
Centric Health said its GPs and practices will continue to operate under the Centric Health brand "with full operational and clinical independence". The company also said: "Patients will not experience any change as a result of this investment and do not need to take any action."
The acquisition is intended to support Centric's growth strategy in Ireland, Germany and the Netherlands, according to both reports. The Irish Times said the plans include expanding the network geographically and through digital services, further clinical services, and continued population health research.
"We have significant ambitions for the future and have been looking for the right partner to help us achieve our goals," Dr Cox said. "Healthspan Partners is the perfect partner as it brings expertise and insight, global networks and reach."
No completion date has been given. When this article was prepared, no notification for the deal had been found on the CCPC's public mergers pages, and no announcement appeared on Centric Health's website.
Centric Health at a glance
The figures below come from the press coverage of the deal and from Rothschild & Co's portfolio page.
| Item | Detail |
|---|---|
| Founded | 2003, by Dr Maurice Cox and Dr Ray Power; first practice in Phibsborough, Dublin, in 2004 |
| Irish network | 420 GPs at 90 locations, serving more than 700,000 patients |
| Netherlands | Entered in 2020, with 11 practices |
| Germany | Entered in 2021, with 23 clinics |
| Other businesses | Locumotion (medical recruitment) and Global Diagnostics (diagnostic imaging, Ireland and UK) |
| 2024 turnover | 143.9 million euro in total: 76.2 million from private clients and 67.6 million from medical card (GMS) work |
| 2024 result | Loss of 22.5 million euro (Irish Examiner) |
| Current owner | Five Arrows (Rothschild & Co) since January 2018; Dr Cox holds a minority stake |
The Irish Times said total turnover rose 13.5% in 2024 and that about 80% of revenue came from the Irish market. It also noted that many GPs work with Centric under a profit-share arrangement. That may explain why Centric's own website gives a lower figure of 250 GPs among more than 1,000 people employed: the two numbers appear to count different groups, and the company has not set out the difference.
From one Dublin practice to three countries
Centric opened its first practice in Phibsborough in 2004. In 2005 it set up the VHI SwiftCare clinics as a joint venture with the insurer, which bought them outright in 2017, according to The Irish Times. When Five Arrows invested in January 2018, Rothschild & Co's portfolio page said Centric had "over 40 locations". That has since grown to about 90 in Ireland, alongside the Dutch and German businesses.
The sale did not come out of nowhere. In January 2025 The Currency reported that Centric was exploring a sale and had appointed a London-based investment bank to run the process. Investors in Healthcare has reported that Houlihan Lokey was engaged to advise on it.
Who is the buyer?
HealthSpan Partners belongs to the Bon Secours Mercy Health group. The group's 2019 announcement described Bon Secours Mercy Health as "one of the top five largest Catholic health care systems in the United States". The group is already established in Ireland: in 2019 the Bon Secours Health System in Ireland signed a letter of intent to merge with Bon Secours Mercy Health. At the time it ran five acute hospitals in Cork, Galway, Limerick, Tralee and Dublin. The Centric deal would add a large primary care network to that hospital base. Neither company has said how, or whether, the GP and hospital businesses will work together.
Why it matters for Ireland
Centric is the largest player in Irish primary care, as The Irish Times describes it, and it earns most of its money in Ireland, so a change of owner is a notable event for the market. The deal also means that one US group would own both a national GP network and five private hospitals in Ireland. How the CCPC views that will be clear only once the deal has been notified and reviewed. For other Irish companies in the sector, see our companies directory.
Frequently Asked Questions (FAQ)
Q: Who is buying Centric Health?
A: HealthSpan Partners, a diversified healthcare services organisation and an affiliate of US health system Bon Secours Mercy Health.
Q: How much is the deal worth?
A: The price has not been disclosed. The Irish Times reported a figure of about 350 million euro, citing industry sources.
Q: Is the deal complete?
A: No. It is subject to approval by the Competition and Consumer Protection Commission and other relevant regulators. No completion date has been given.
Q: Will Centric practices change their name?
A: No. Centric said GPs and practices will continue under the Centric Health brand with full operational and clinical independence, and that patients do not need to take any action.
Q: Who founded Centric Health?
A: Dr Maurice Cox and Dr Ray Power, in 2003. Dr Cox will remain chief executive after the deal.
Conclusion and Outlook
HealthSpan Partners' agreement to buy Centric Health brings Ireland's largest GP network under the same US parent as the Bon Secours hospitals. The next step is the CCPC review. Once the deal is notified, the commission will publish it on its mergers register, along with the timeline for a decision. Until then, the price stays unconfirmed and Centric remains owned by Five Arrows.
Cover image: AI-generated illustration of a general practice waiting room in Ireland. It does not show any real person, practice or company.
Sources
- Irish Examiner, HealthSpan Partners to buy GP firm Centric Health, 16 October 2026
- The Irish Times, US group buys largest Irish GP practice network in deal worth about 350m euro, 16 October 2026
- Investors in Healthcare, Ireland: Healthspan Partners set to acquire Centric Health, 19 October 2026
- The Currency, Centric Health is exploring a sale, 17 January 2025
- Rothschild & Co, Five Arrows portfolio: Centric Health
- Bon Secours Mercy Health, Bon Secours Health System in Ireland signs letter of intent to merge, 30 April 2019
- Centric Health, centrichealth.ie
