Hospital investment to cost state €50m

The state is poised to take a hit of more than €50 million on the sale of Mount Carmel Hospital in south Dublin.

Susan Mitchell

Deputy Editor and Health Editor @susmitchellsbp
Ian Kehoe - avatar

Ian Kehoe

1st June, 2013
Jerry Conlan paid €67 million for Mount Carmel in 2006. Photo: Tony O'Shea

The state is poised to take a hit of more than €50 million on the sale of Mount Carmel Hospital in south Dublin.

Sources close to the deal said the hospital was expected to fetch in the region of €8-10 million, a massive drop on the €67 million that developer Jerry Conlan paid for it in 2006.

The 2006 deal was financed by AIB, which provided loans of €60 million to Conlan. The loans have...

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