Belfast private health firm makes first southern acquisition
BELFAST-based private health firm 3fivetwo Group has made its first acquisition in the Republic.
It has paid an undisclosed sum to buy St Joseph’s Hospital in Sligo.
The 19-bed private hospital in Garden Hill will be rebranded as Kingsbridge Private Hospital Sligo, sharing the name of the 3fivetwo Group’s flagship property Kingsbridge Private Hospital on Belfast's Lisburn Road.
And the group has pledged that all 60 staff jobs at the Sligo hospital - which utilises 50 consultants across 25 specialities - will be retained and new posts created as it introduces a wider range of services.
Group development director Mark Regan said: “This is good news for the north west and for 3fivetwo, continuing our growth in the healthcare sector and enhancing our position as a vertically integrated healthcare provider which offers true patient choice."
It comes in the wake of the group unveiling a £3m investment and 20 new jobs as part of an ambitious expansion plan, and also spending £350,000 on its bespoke Training Academy at Boucher Road.
Dr Regan added: "We are constantly seeking new opportunities for growth in Ireland, the UK and USA, having recently partnered with a Philadelphia company to develop a Telehealth product.”
The 3fivetwo Group, founded in 2003 by Dr Suresh Tharma and Mr Ashok Songra, has a multi-million pound turnover and employs 240 staff, along with the services of 400 consultants and 300 nursing staff.
Companies in its portfolio include Kingsbridge, 3fivetwo Healthcare, H3 Health Insurance, the Training Academy, Origin Fertility Care, Dental Excellence, Optique eye and ear care and cosmetic surgery wing, Cosmetech.
The 3fivetwo Group was the first to offer private casualty and private GP services in Northern Ireland when it opened Kingsbridge two years ago, offering a range of services including cosmetic surgery, dental and fertility. It also provides health services for 90,000 GAA players in Ulster.
It also operates the Chelsea Private Clinic on King's Road in London.
It has already been successful in HSE tenders and is building a long term relationship with key stakeholders in the Republic.
St Joseph’s Hospital, founded in the 1950s, was until last year part of the Mount Carmel Medical Group.
Its current range of surgical and diagnostic services includes outpatients, endoscopy, cardiology, general surgery, oral surgery, gynaecology, dermatology, plastics, ENT, urology, pain management, ultrasound, anesthesia, physiotherapy, neurology and orthopaedics.
St Joseph's chief executive Mark Towey said: “This acquisition is an extremely positive development for the hospital, providing an opportunity to consolidate and expand the services it provides as part of an established healthcare group and underlining our role as a provider of quality healthcare services, across the west coast of Ireland.”