Australian investment firm Macquarie Asset Management has agreed a deal to buy the private hospital Beacon Hospital from businessman Denis O’Brien.
The Beacon Hospital is located in south Dublin and employs over 2,000 staff. The hospital has 251 beds, eight operating theatres, three catheterisation laboratories as well as four endoscopy suites.
The value of the deal has not been disclosed.
The deal was agreed after Macquaire approached shareholders and their offer was accepted. Mr O’Brien bought the private hospital group in 2014.
Michael Cullen, chief executive of Beacon Hospital said he believes that Macquaire’s support will be “critical” as the hospital sets out on its next phase of its growth plans.
“Our new partner will work closely with us as we look to build the largest private healthcare campus in Ireland to meet current and future demand,” he said.
Following the completion of the acquisition, Mr Cullen will remain as chief executive and shareholder in the business. The transaction is expected to close by the end of June subject to customary closing conditions.
Hani Zogheib, senior managing director at Macquarie Asset Management, said they look forward to working with the team at the Beacon Hospital “to continue to build on this legacy”.
Macquarie Asset Management, a part of the financial group Macquarie Group, manages approximately €542 billion in assets worldwide.
Founded in 1969, Macquarie Group employs over 21,000 people across 34 countries and is listed on the Australian Securities Exchange.
It has had offices in Dublin since 2003 and employs 100 people here.