Clinical services businesses are essential to the UK’s healthcare system, driven by the challenges facing the NHS and shifts in healthcare policy. Nick Jones and Ryan Dearman share our Ones to Watch report which explores trends, insights from industry experts, and the top companies we’ve identified in the sector.
In recent years, clinical services businesses have seen significant opportunities but also faced a period of sustained uncertainty. The NHS continues to operate under immense strain, with Lord Darzi’s review concluding that the system was in a “critical condition”, prompting the abolishment of NHS England, and introduction of the 10 Year Health Plan in 2025.
It’s increasingly clear that the NHS cannot meet growing demand alone. Stronger partnerships with private providers are essential to support service delivery and drive innovation, creating clear opportunities for clinical services businesses working alongside the NHS.
Our report highlights a selection of standout companies operating across the clinical services landscape, including those working in the private market and partnering with or supporting the NHS.
Download our Clinical Services: Ones to Watch 2026 report
Against this backdrop, private businesses are demonstrating a strong appetite for collaboration and innovation. They play a committed role in supporting the NHS and the evolution of UK healthcare to deliver more accessible, forward‑thinking and resilient care.
We identified 150 businesses that are 'Ones to Watch’, as well as insights from industry experts in the following key areas.
Key insights and contributors
The new NHS landscape: strategic opportunities for private providers
As the number of Integrated Care Boards (ICBs) declines and the system undergoes digital transformation - shifting to virtual care, and community-based services - demand is growing for private providers to work alongside the NHS to expand capacity and support new models of care. Success will depend on strong clinical governance, strategic partnerships with major NHS Trusts, and a willingness from private providers to help fund and drive innovation. This will be especially important as digital records, data analytics and virtual diagnostics redefine patient pathways in the years ahead.
Justin Jewitt, Chair of Medefer and an experienced leader across NHS and private healthcare, shares his perspective on how these structural changes present both significant challenges and major opportunities for private providers.
Clinical Services industry spotlight: Behind the Transaction podcast
Clinical services providers are operating at the crossroads of rising demand, evolving NHS partnerships and policy changes. Against this backdrop of change and uncertainty, providers are adapting through innovation, diversification and new models of delivery to meet patient and system needs.
Ryan Dearman leads a conversation on the sector’s challenges, opportunities and outlook, joined by an expert panel featuring:
- David Hare MBE, Chief Executive, Independent Healthcare Providers Network (IHPN)
- Jill Mason, Partner, Head of Health and Care Sector, Mills & Reeve
- Mark Jackson, Chairman, Psychiatry UK
The Government’s 10-Year Plan marks a significant shift for healthcare. The objective is to move care closer to the community, accelerate digital transformation, and place greater emphasis on prevention. The panel also reflects on what this means for the sector and explores the opportunities and questions emerging from the plan.
PHL’s acquisition strategy: scaling with purpose to shape the future of urgent care
As demand for urgent and community care continues to rise, PHL is using its expanded footprint to innovate in digitally enabled models of care, enhance workforce resilience and deliver more seamless, community‑based pathways. Despite a challenging commissioning environment, strategic consolidation coupled with targeted investment in technology and efficiency, is positioning PHL to drive the next generation of urgent care and remain a vital partner in the UK healthcare system.
PHL Interim CEO Claire Oatridge reflects on how the organisation’s growth and acquisition strategy, including acquisitions of Totally PLC and Malling Health, has accelerated its national scale and strengthened its ability to support the NHS.
M&A activity
M&A activity across the clinical services sector remains robust, with particular momentum in occupational health, diagnostics and mental health. Despite an uncertain landscape, demand for highquality providers continues to rise as people are taking a more active role in managing their health. Both the NHS and insurers are increasingly looking to partner with independent providers.
AXA’s acquisition of Healthcare Business Solutions (HBSUK) in 2024 is a key example outlined in the report. HBSUK is a multi-disciplinary provider of online outpatient services and on-site clinical capacity to the public and private healthcare sectors.
