A US medical group is to become the majority owner of Dublin's Beacon Hospital in return for a €68m investment.
The University of Pittsburgh Medical Centre says the deal will provide more treatment options and better access to care. The hospital, which UPMC began managing more than a year ago, has been re-named UPMC Beacon Hospital.
UPMC said it had acquired majority ownership of the hospital management company and the entity that owns the hospital property from Beacon Medical Group.
UPMC is a global non-profit health enterprise headquartered in Pittsburgh, Pennsylvania. It has almost 50,000 employees and nearly $8 billion (more than €5.5 billion) in revenue.
The Beacon Hospital, which opened in October 2006, has 183 acute care beds, eight operating theatres, two endoscopy suites and 14 dedicated critical care beds.
