Cinven, the private equity group, on Monday unveiled its second private healthcare deal in less than a month, agreeing to pay €675m (£457) for USP Hospitales of Spain.

The firm beat at least two other bidders for the business, which last year reported revenues of €246.7m. The vendor, Mercapital, is Spain’s biggest domestic private equity firm. With 13 hospitals, 16 outpatient centres and other support facilities, USP is among the country’s largest independent healthcare providers in what has become a rapidly growing market.