France, Italy and Spain are due to hold major national elections by 2027. These elections will matter
for private healthcare providers as they could materially alter their role within provision of publicly
funded services. Providers could also be impacted through tariff changes as health systems increase reimbursement controls in the name of cost containment. This whitepaper looks at how these risks and potential benefits differ across the three markets and where election outcomes are likely to matter most for healthcare investors.