Unsecured creditors to recoup €3m-plus from sale of troubled HealthBeacon

The rescue deal drawn up by Shane McCarthy of KPMG will see unsecured creditors get back 55 per cent of what they are owed

Jim Joyce, co-founder of HealthBeacon, stepped down as chief executive. Picture: Fergal Phillips.

Unsecured creditors of HealthBeacon, the Irish medical device company which entered examinership last year, will recoup more than €3 million under a rescue plan drawn up by examiner Shane McCarthy of KPMG, which is considerably more than forecast when the business first became insolvent last year.

It emerged late last week that HealthBeacon is to be acquired by Hamilton Beach Brands, a US seller of home appliances, as part of a €6.9 million deal that ...