Business Irish

Friday 20 April 2018

Beacon owners looking at Whitfield

Tom Lyons

THE University of Pittsburgh Medical Centre (UPMC), owner of the Beacon Hospital in Dublin, has told IRBC that it is interested in buying Waterford's Whitfield Clinic.

A high-powered delegation from UPMC, which has revenues of €7bn a year, was in Ireland last week to consider the matter as well as its broader strategy as one of the biggest investors in private healthcare here.

Whitfield was opened in 2006 by Carlow dentist Jim Madden. IBRC appointed KPMG as a share receiver to Dr Madden's main company Eurocare International last year on company debts associated with the hospital and other investments of €85m.

Whitfield, which has 40 inpatient beds and employs 160 people, is trading profitably but any sale would be complicated by its tax relief-based investment structure which has five years to run. In a statement, UMPC said it "has not held formal discussions with the IBRC about acquiring the Whitfield Clinic, Waterford."

"However, UPMC continues to support its relationship with the Whitfield Clinic through the UPMC Whitfield Cancer Centre co-located in the Whitfield Clinic facility and operates UPMC Beacon Waterford, a specialty services clinic located in Ardkeen," it added.

Cash-rich UMPC said it was not interested in taking over St Joseph's Hospital in Sligo from developer Jerry Conlan's Mount Carmel Group, but had only held talks about potential co-operation.

Sunday Indo Business

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