Northern Ireland firm buys hospital in Sligo
Northern Ireland's largest private healthcare firm is expanding into the Republic as part of a "multi-million pound" investment after buying a hospital in Sligo.
3fivetwo is finalising a deal to acquire the 19-bed St Joseph's Hospital, which is set to be rebranded as Kingsbridge Private Hospital Sligo, in a nod to the firm's private business in Belfast.
The deal secures all 60 jobs at the hospital, and 3fivetwo has said it's aiming to create new roles on the back of the deal.
The value has not been disclosed, but it is understood much of the "multi-million pound" figure will go towards the "expansion and development of services in the years ahead".
And the final sale is expected to be agreed in the new few weeks.
Headquartered on the Lisburn Road in south Belfast, the group - which boasted increased turnover of more than £40m in its last set of published accounts - employs 240 staff. That's alongside the services of a further of 400 consultants and 300 nursing staff.
St Joseph's Hospital was founded in the 1950s and until early last year was part of the Mount Carmel Medical Group.
Mark Regan, 3fivetwo group development director, told the Belfast Telegraph: "It's a multi-million pound investment, not in the purchase alone but in the expansion and development of services in the years ahead. You can't put a price on the provision of healthcare to a local community.
"In addition to obvious benefits for patients, the securing of hundreds of jobs at KPH Sligo and peripheral suppliers is priceless."
And earlier this month the firm revealed it was adding another 20 jobs as part of a £3m investment.
The company said plans for growth were in response to increasing demand for private health due to budget cuts, soaring waiting lists and pressure on public services.
It now has three facilities in south Belfast, including cosmetic surgery, dental and fertility businesses.
It also operates the Chelsea Private Clinic on King's Road, London.
And Kingsbridge Private Hospital on Belfast's Lisburn Road is now being extended in a £2.5m project.
Earlier this year 3fivetwo Group won the Excellence in Marketing award in the Belfast Telegraph Business Awards.