Public-private partnerships (PPPs) have been undeniably successful in the whole of Europe in recent years. Often grounded in the assumption that private organizations would have a positive impact on the efficiency of public organizations, PPPs are now also regarded as mechanisms for producing innovation in the services area. This article takes account of the place of PPPs in innovation dynamics in hospitals by mobilizing and applying theoretical models of innovation in services to an in-depth case study of a complex innovation-oriented PPP. It is a question of uncovering the multifaceted nature of innovation in hospitals involved in PPPs at inter-organizational, organizational, and intra-organizational levels. PPPs can welcome medical, technological, programmed, and top-down innovations, but are also fertile ground for non-medical, non-technological, bottom-up, and non-programmed innovations. We should not neglect the actors involved. JEL Codes: I1, O3