privatize [privatized, privatizing, privatizes](to release government control to private industry) verb [UK: ˈprɪ.və.ˌtaɪz] [US: ˈprɪ.və.ˌtaɪz]The government has now abandoned its plans to privatize parts of the health service. = El gobierno ha renunciado a sus planes de privatizar partes del servicio de salud.