UPMC lost €96m as O’Brien bought Beacon

31st May, 2015

The University of Pittsburgh Medical Centre (UPMC), the American non-profit healthcare giant, recorded a $106 million (€96 million) loss in its financial accounts after it lost control of the Beacon Hospital in Dublin to billionaire Denis O’Brien.

The loss is revealed in UPMC’s quarterly accounts for the period ended March 31 2015, which were filed in the United States earlier this month. O’Brien took over the Beacon in 2014 after he bought out the...

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