Objective To examine whether disparities in stillbirth, and neonatal and perinatal mortality rates, between public and private hospitals are the result of differences in population characteristics and/or clinical practices.Design Retrospective cohort study.Setting A metropolitan tertiary centre encompassing public and private hospitals. Women accessed care from either a private obstetrician or from public models of care -predominantly midwife-led care or care shared between midwives, general practitioners, and obstetricians.Population A total of 131 436 births during 1998-2013: 69 037 public and 62 399 private.Methods Propensity score matching was used to select equal-sized public and private cohorts with similar characteristics. Logistic regression analysis was then used to explore the impact of publicprivate differences in the use of assisted reproductive technologies, plurality, major congenital anomalies, birth method, and gestational age.Main outcome measures Stillbirth, and neonatal and perinatal mortality rates.Results After controlling for maternal and pregnancy factors, perinatal mortality rates were higher in the public than in the private cohort (adjusted odds ratio, aOR 1.53; 95% confidence interval, 95% CI 1.29-1.80; stillbirth aOR 1.56, 95% CI 1.26-1.94; neonatal death aOR 1.48, 95% CI 1.15-1.89). These disparities reduced by 15.7, 20.5, and 19.6%, respectively, after adjusting for major congenital anomalies, birth method, and gestational age.Conclusions Perinatal mortality occurred more often among public than private births, and this disparity was not explained by population differences. Differences in clinical practices seem to be partly responsible. The impact of differences in clinical practices on maternal and neonatal morbidity was not examined. Further research is required.Keywords Hospital sector, neonatal death, perinatal mortality, propensity score, stillbirth.Tweetable Abstract Private obstetrician-led care: more obstetric intervention and earlier births reduce perinatal mortality.