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NAMA takes control of Mount Carmel mortgage

NAMA has taken control of Dublin private hospital Mount Carmel's mortgage -- meaning it will be first in line to be paid if the hospital is sold.

The medical facility in Churchtown, which is best-known as an exclusive private maternity clinic, is controlled by developer Gerry Conlon.

Mr Conlon, the businessman who clocked up more than €1bn in debt to Anglo, was one of the controversial group of investors known as the Maple 10 -- the leading business people allegedly lent money by Anglo to buy its own shares.

There were earlier reports that St James's Hospital in Dublin had been in talks with Mount Carmel about a potential takeover bid.

St James's, the largest public hospital in Ireland, issued a statement that it was having "very preliminary discussions" with Mount Carmel which were examining "the development of a link between the two hospitals".

St James's informed Health Minister James Reilly of the ongoing talks between the two hospitals and the minister declared the interest of public patients "must remain paramount".

But it is now reported in the Irish Independent that NAMA secured a charge over the hospital in south Dublin on September 19.

The move by the so-called 'bad bank' means that NAMA is now first in line to be paid if the hospital is sold.

It also means that ownership of the hospital cannot be transferred without NAMA's consent.

The original negotiations with St James's Hospital are understood to only involve Mount Carmel Hospital.

clairemurphy@herald.ie


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