Beacon Hospital

Beacon Hospital is a privately owned full-service hospital located in the Sandyford suburb of Dublin, Ireland. Beacon's 9-storey 238,000-square-foot (22,100 m2) facility includes 183 patient beds.[1][2] The hospital was developed by Beacon Medical Group (BMG).

History

In May 2006, Beacon Hospital signed an affiliation agreement with Johns Hopkins Medicine International (JHMI) for JHMI to provide educational and consulting services at the Hospital.[3] Beacon Hospital was officially opened on 25 October 2006 by then-Tánaiste and Minister for Health and Children, Mary Harney.[4] The Hospital was operated by the American Triad Hospitals group.[5] In February 2008, University of Pittsburgh Medical Center (UPMC) began managing the hospital, buying a 25% share in the company for €15 million.[2] In 2009, UPMC took majority ownership of the hospital in a €68 million deal which gave it a 68% equity in the company. The Hospital was rebranded as UPMC Beacon Hospital.[6][7][8] In April 2014, Beacon Hospital was taken over by Irish businessman Denis O'Brien, with UPMC relinquishing its ownership.[9] UPMC paid €20 million to divest itself of the hospital, saving UPMC a projected $231 million in long-term debt.[10] According to UPMC's 2015 accounts, the company lost €33 million on the disposal of Beacon Hospital and wrote off a further €38.9 million in loans.[11] O'Brien paid Ulster Bank €40 million for the Hospital's outstanding €100 million debt.[5]

Awards

Beacon Hospital won the 2008 Irish Healthcare Innovation Award.[12] In 2013, Beacon Hospital won a Commendation at the Irish Healthcare Awards for its DocIT programme.[13] Beacon Hospital also won the 2013 Radiosurgery Excellence Award.[14]

See also

References

  1. ↑ "About Beacon Hospital". Beacon Hospital. Archived from the original on 2010-01-12. Retrieved 2009-08-05.
  2. 1 2 "UPMC to Manage Independent Hospital in Dublin, Ireland". upmc.com. Retrieved 4 December 2016.
  3. ↑ Simpkins, Beth. "Johns Hopkins Medicine International and Beacon Hospital in Ireland Sign Agreement for Educational and Consulting Services". hopkinsmedicine.org. Retrieved 4 December 2016.
  4. ↑ http://www.beaconhospital.ie/images/PressReleases/beacon_opening.pdf
  5. 1 2 "Trust me I'm a billionaire - The Sunday Times". thesundaytimes.co.uk. Retrieved 4 December 2016.
  6. ↑ "Archived copy". Archived from the original on 2014-08-12. Retrieved 2014-08-10.
  7. ↑ Mamula, Kris B. (2009-06-26). "UPMC moves to expand presence in Ireland with investment". Pittsburgh Business Times. Pittsburgh, PA. Retrieved 2009-08-05.
  8. ↑ O'Halloran, Barry (2009-08-26). "US group to take control of Beacon Hospital". The Irish Times. Dublin, Ireland. Retrieved 2009-09-02.
  9. ↑ http://www.irishtimes.com/business/sectors/health-pharma/denis-o-brien-takes-control-of-beacon-private-hospital-1.1753483
  10. ↑ http://www.fortmilltimes.com/2014/09/08/3711092/fitch-rates-upmcs-2014a-and-2014b.html[]
  11. ↑ "American firm UPMC lost €72m on Beacon Hospital exit - Independent.ie". independent.ie. Retrieved 4 December 2016.
  12. ↑ http://www.ucd.ie/entrepreneurslive/michaelcullen/index.html
  13. ↑ "Changing the face of mental health". imt.ie. 30 July 2014. Retrieved 4 December 2016.
  14. ↑ Croffey, Amy. "Beacon Hospital wins award for delivering pioneering cancer treatment". thejournal.ie. Retrieved 4 December 2016.

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