Australia-based Macquarie Asset Management, through its Macquarie European Infrastructure Fund 7, is set to acquire Beacon Hospital, a private healthcare facility in Dublin, Ireland.
Financial terms of the transaction were not disclosed.
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Beacon Hospital specialises in offering a wide range of acute care and specialist diagnostic services, catering to more than 200,000 patients annually.
It has a total of 251 beds, eight operating theatres, three catheterisation laboratories, and four endoscopy suites.
Over the last decade, substantial investment by shareholders, notably Denis O’Brien, has propelled the hospital’s growth, tripling patient treatment numbers, doubling staff, and significantly enhancing facilities.
Following the acquisition, Beacon Hospital CEO Michael Cullen will retain his leadership role and shareholder status in the hospital.
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By GlobalDataThe deal, contingent on the fulfilment of customary closing conditions, is due to conclude by the first half of this year.
Cullen said: “Looking to the future, we believe that Macquarie Asset Management’s support as our long-term shareholder, with its global expertise in healthcare and social infrastructure, will be critical as we embark on the next phase of our 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.”
Macquarie established its Dublin office in 2003 and has now grown its local team to over 100. Ireland is also Macquarie’s regulated banking hub within the European Economic Area and the centre for its worldwide aviation leasing operations.
The group is said to have been integral in Irish infrastructure development, investing over €2bn in various sectors, including healthcare, since 2009.
Macquarie Asset Management senior managing director Hani Zogheib said: “The hospital’s team of talented healthcare professionals and consultants have worked tirelessly over more than 17 years to make it the centre of clinical excellence and patient care that it is today.”
Last August, Macquarie Asset Management provided £30m ($37.8m) to support the construction of a multi-purpose healthcare facility in UK’s Southampton, on behalf of Just Group.
