Dublin-listed investment company Boundary Capital has announced that it has a 60% stake in Synchrony, a company set up to build a private hospital on the grounds of St James's Hospital in Dublin.
Synchrony has signed a project agreement to provide a 195-bed facility under the Government's co-location programme.
Boundary said it had not paid any price for the stake, but may provide the funds needed to secure planning permission and financing.
Under the terms of the agreement signed with St James's, Synchrony has been granted a 65-year lease on the hospital site and a licence to build a hospital there.
A performance bond with a maximum limit of €20m has been agreed, and Boundary will guarantee this on behalf of Synchrony. Boundary says the maximum liability arising for Boundary will be €1m. Boundary's Niall McFadden's family also indirectly have a stake in Synchrony.
