The £90 million deal will enable Bupa to create a flagship private hospital in London and the company has revealed that it plans to invest a further £30 million in the hospital over the next two years in order to further improve its facilities.
The Cromwell Hospital already holds a solid reputation for state-of-the-art equipment and cancer services, as well as its expertise in neurosciences and paediatrics.
Commenting on the acquisition of the 128-bed private hospital, Fergus Kee, managing director of Bupa UK Health Insurance, said: "Private patients tell us they want more high quality private health services in London.
"We believe there is tremendous opportunity to introduce modern, innovative ways of delivering healthcare in the capital offering high levels of customer service, clinical excellence and more cost-effective care."
According to Mr Kee, Bupa has been looking for a flagship hospital in London for a number of years and Hume Martin, the hospital's CEO, said that becoming part of the Bupa group would "enable the hospital to fulfil its potential".