A 50-acre site in Swords in Co Dublin has been proposed as the location for the new National Children's Hospital.
The Broadmeadow Healthcare Group claims it can complete the development by 2016 at a lower cost than the €650m already earmarked for the project.
The group proposes building the hospital alongside a maternity hospital and an adult teaching facility on a greenfield site at Lissenhall.
The original plan at the Mater Site was rejected in February by An Bord Pleanála as the proposed 16 floor building was deemed to be too high with a negative impact on the Dublin skyline.
Last week the Sisters of Mercy order agreed to offer the old Mater adult hospital site for inclusion in new plans which could create a tri-located hospital with adult, maternity and paediatric services on one site.