Who Owns the Health System?
CICTAR has been working closely with a new group (Public Futures Aotearoa) that was launched recently in Aotearoa, New Zealand to oppose the trend for privatization of key public assets. This first sector specific report looks in depth at the rapid shift towards private ownership in the health sector.
As public health spending in New Zealand climbs to record highs, our research finds that nearly half of all public health funding—$14.8 billion (46.4%)—is now being funneled into the private sector.
With 80% of new public health spending over the last two years captured by the private sector we reveal how public money is driving corporate expansion.
Public funding is now delivering windfall profits for the private healthcare industry. Pre-tax profit in the healthcare and social assistance sector more than doubled since 2020, from $2.2 billion in 2020 to $4.5 billion in 2025.
Much of this expansion is being supported by expensive and unaccountable private sector borrowing, serviced from public funds. Corporate ownership chains for major health providers now span jurisdictions like the Bahamas, Luxembourg, Singapore and the Cayman Islands.
From general practice to private hospitals, diagnostics to aged care and home support, the report provides detailed case studies that expose how profit is extracted from New Zealand’s health system and calls on government to invest in public capacity.