Beacon Hospital

Beacon Hospital
Beacon Medical Group
Beacon Hospital is located in Dublin
Beacon Hospital
Shown in Dublin
Geography
LocationDublin, Ireland
Coordinates53°16′36″N 6°13′10″W / 53.27662°N 6.21954°W / 53.27662; -6.21954
Organisation
Care systemPrivate
TypeGeneral
Affiliated universityUniversity College Dublin
History
Opened25 October 2006; 18 years ago (2006-10-25)

Beacon Hospital (Irish: Ospidéal Beacon) is a privately owned full-service teaching hospital located in the Sandyford suburb of Dublin, Ireland. The hospital was developed by Beacon Medical Group (BMG).

History

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Beacon Hospital signed an affiliation agreement with Johns Hopkins Medicine International (JHMI), for JHMI to provide educational and consulting services at the hospital, in May 2006.[1] Beacon Hospital was officially opened by then-Tánaiste and Minister for Health and Children, Mary Harney on 25 October 2006.[2] The American Triad Hospitals group took responsibility for the management of the hospital.[3]

In February 2008, University of Pittsburgh Medical Center (UPMC) began managing the hospital, buying a 25% share in the company for €15 million.[4] 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.[5][6][7]

In April 2014, Beacon Hospital was taken over by Irish businessman Denis O'Brien, with UPMC relinquishing its ownership.[8] UPMC paid €20 million to divest itself of the hospital, relieving itself of a projected $231 million in long-term debt.[9] 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.[10] O'Brien paid Ulster Bank €40 million for the hospital's outstanding €100 million debt.[3]

In March 2021 in the midst of the Covid-19 pandemic, twenty teachers from St Gerard's School, Bray received vaccinations from the hospital. The head of the Irish Health Service and the Minister for Justice expressed 'frustration' at the actions of the Beacon Hospital which violated policies regarding the use of surplus vaccines.[11] The Irish Times noted that the children of the chief executive of the Beacon Hospital attend St. Gerard's.[11]

In 2022, the hospital management presented proposals for a redevelopment which would expand the bed capacity by 40%, the biggest investment since 2014. They had purchased two adjacent sites and the adjoining Beacon Hotel in order to expand clinical facilities, create a new research hub and relocate parts of the existing UCD Beacon Hospital Academy.[12]

In 2024, the hospital was sold to Macquarie Asset Management for an estimated €400m.[13][14]

Services

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Beacon's 9-storey 238,000-square-foot (22,100 m2) facility includes 183 patient beds.[15][4] The hospital provides teaching for University College Dublin.[16]

Around 1,100 staff work at the hospital.[17]

Awards

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Beacon Hospital won the 2008 Irish Healthcare Innovation Award.[18] In 2013, Beacon Hospital won a Commendation at the Irish Healthcare Awards for its DocIT programme.[19] Beacon Hospital also won the 2013 Radiosurgery Excellence Award.[20]

See also

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References

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  1. ^ Simpkins, Beth. "Johns Hopkins Medicine International and Beacon Hospital in Ireland Sign Agreement for Educational and Consulting Services". hopkinsmedicine.org. Retrieved 4 December 2016.
  2. ^ "First private hospital in 20 years opens in Dublin". Irish Times. 25 October 2006. Retrieved 6 May 2019.
  3. ^ a b "Trust me I'm a billionaire - The Sunday Times". thesundaytimes.co.uk. 11 May 2014. Archived from the original on 12 August 2014. Retrieved 4 December 2016.
  4. ^ a b "UPMC to Manage Independent Hospital in Dublin, Ireland". upmc.com. Retrieved 4 December 2016.
  5. ^ "Archived copy". Archived from the original on 12 August 2014. Retrieved 10 August 2014.{{cite web}}: CS1 maint: archived copy as title (link)
  6. ^ Mamula, Kris B. (26 June 2009). "UPMC moves to expand presence in Ireland with investment". Pittsburgh Business Times. Pittsburgh, PA. Retrieved 5 August 2009.
  7. ^ O'Halloran, Barry (26 August 2009). "US group to take control of Beacon Hospital". The Irish Times. Dublin, Ireland. Retrieved 2 September 2009.
  8. ^ "Denis O'Brien to take over Beacon Hospital in Sandyford". journal.ie. 4 April 2014. Retrieved 6 May 2019.
  9. ^ "Fitch rates UPMC". Fort Mill Times. Archived from the original on 9 September 2014.
  10. ^ "American firm UPMC lost €72m on Beacon Hospital exit - Independent.ie". independent.ie. Retrieved 4 December 2016.
  11. ^ a b Power, Jack; Clarke, Vivienne. "Teachers from Co Dublin school vaccinated in Beacon Hospital". The Irish Times. Retrieved 26 March 2021.
  12. ^ Burke-Kennedy, Eoin (4 July 2022). "Beacon Hospital signals further expansion with acquisition of two adjacent sites". Irish Times. Retrieved 15 November 2022.
  13. ^ "Denis O'Brien's Beacon Hospital sold to Macquarie for estimated €400m". The Irish Times. Retrieved 21 February 2024.
  14. ^ "Macquarie Asset Management to acquire Beacon Hospital". Macquarie. Retrieved 21 February 2024.
  15. ^ "About Beacon Hospital". Beacon Hospital. Archived from the original on 12 January 2010. Retrieved 5 August 2009.
  16. ^ "Minister for Health, Leo Varadkar, Launches the UCD Beacon Hospital Academy". University College Dublin. 6 February 2015. Retrieved 6 May 2019.
  17. ^ Burke-Kennedy, Eoin (4 July 2022). "Beacon Hospital signals further expansion with acquisition of two adjacent sites". Irish Times. Retrieved 15 November 2022.
  18. ^ "Michael Cullen, CEO, Beacon Medical Group". University College Dublin. Archived from the original on 12 August 2014. Retrieved 6 May 2019.
  19. ^ "Changing the face of mental health". imt.ie. 30 July 2014. Retrieved 4 December 2016.
  20. ^ Croffey, Amy. "Beacon Hospital wins award for delivering pioneering cancer treatment". thejournal.ie. Retrieved 4 December 2016.
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