Ramsay Health Care and its partner, insurer Crédit Agricole Assurances, acquired 83.43 percent of Générale de Santé, with Ramsay's 57 percent share costing it €429 million (Aus $627 million).
Générale de Santé is a leading operator of private hospitals in France comprising 75 facilities, including 61 hospitals, employing 19,000 staff.
Its acquisition brings Ramsay's total portfolio in France to 115 facilities, including 101 hospitals, making it the largest private hospital operator in the country, the company said in a statement.
Ramsay managing director Chris Rex said France, like Australia, had an expanding and aging population which was expected to generate increasing demand for health care.
"Since entering the French market in 2010 we have successfully grown the business and developed a comprehensive understanding of the marketplace," he said.