Germany: Investors acquiring medical practices raises antitrust concerns

Financial investors are increasingly acquiring private medical practices in Germany to consolidate them into Medical Care Centers (MVZ). This trend is transforming the healthcare landscape, as traditional independent doctors are being replaced by salaried physicians working within larger corporate structures.

The Federal Cartel Office (Bundeskartellamt) has expressed concern regarding this development, warning of significant market power and regulatory gaps. The authority noted that many acquisitions bypass mandatory merger controls because individual practices often do not meet the required revenue thresholds. Additionally, complex ownership structures can make it difficult to identify the actual economic beneficiaries.

Research based on billing data from Bavaria suggests potential impacts on patient care. The study indicated that 73 percent of doctors in private-equity-led facilities did not provide the full spectrum of standard general practitioner services, with less profitable services, such as home visits, being notably limited.