UPMC ‘terribly disappointed’ over Denis O’Brien Beacon deal
"We invested an enormous amount of money and energy in the Beacon" - Chuck Bogosta, president of UPMC
UPMC previously was the largest shareholder in the Beacon Hospital in Sandyford. When the hospital came under fierce financial pressure during Ireland’s economic collapse, UPMC’s financial firepower ensured it continued to thrive.
In 2014, Ulster Bank sold loans linked to the Beacon to businessman Denis O’Brien, allowing him to take control of the hospital in a move that surprised UPMC. Accounts for UPMC show it recorded a loss of €71.9 million associated with ...
