Health sector

Report diagnoses variety of reasons for HealthBeacon’s financial difficulties

Increased headcount and building infrastructure and a failed venture in the US cited as problems for Dublin-based medtech firm

Jim Joyce, chief executive of HealthBeacon. The firm was founded in 2013 as a private company before becoming a plc in 2021. Picture: Fergal Phillips

An unsuccessful attempt to launch a new business line in the US market contributed to the financial difficulties experienced by HealthBeacon, according to an independent report seen by the Business Post.

An interim examiner was appointed to the Dublin-based medtech firm last week after Mr Justice Rory Mulcahy heard it had “no more gas in the tank”.

Shane McCarthy of KPMG was appointed examiner after the High Court heard that the company anticipated an after-tax ...