Bon Secours Limerick will bring "additional health capacity" to the midwest, according to the hospital's chief executive.
The new private hospital, in Ballysimon on the outskirts of the city, is the first new acute hospital built in Ireland in nearly two decades.
The €213m investment in the 190-bed facility is one of the largest in healthcare ever made in the region.
On Friday, the last patient will be treated at the old hospital on George’s Quay, which is still referred to locally as Barringtons.
The last of the remaining 250 staff who worked at Barringtons will also relocate at the end of the week.
Around 40% of the hospital is currently open and with more beds coming on stream at the end of November, the hospital expects to be fully open by the end of the year.
While the new hospital is private, it will operate in collaboration with University Hospital Limerick, which opened a new 96 bed unit at the beginning of this week.
"We hope that by adding this additional capacity, that it will not just benefit UHL but the people of Limerick and the wider midwest," said Jason Kenny, CEO of Bon Secours Limerick.
"We are bringing additional health capacity to the region."
Mr Kenny said Bon Secours has a positive, engaging relationship with the management of UHL and vice versa.
"When we need assistance and support, they are there for us as well," he said.
The hospital is aiming to discharge up to 45,000 patients per year which compares with 22,000 when it was located at Barringtons.
It will also treat public patients through the National Treatment Purchase Fund.
"It depends on how much NTPF funding is released, but it is also dependent on us, because we are asked to quote for procedures, and then we have to be successful on that," he said.
"Over the past seven years, we have been very successful, and we have been chosen by the HSE nationally and locally to treat their patients on waiting lists etc for people as far as Dublin, Kilkenny, and Galway.
"We hope and aim to continue doing that."
Bon Secours recruiting for healthcare staff
Like UHL, Bon Secours is recruiting for healthcare staff. It needs an additional 250 staff to bring its complement to 500.
"We are three quarters of the way there at this point in time. We will continue to recruit over the coming months, as we bring all of the services online."
Mr Kenny said it has recruited "some" staff from UHL.
"We openly advertised," he said.
"There are some staff that we are looking forward to welcoming, but lots of staff coming back from abroad, lots of consultants coming back from abroad.
"We partnered with a few external recruitment agencies to bring staff in as well.
"It’s not just about getting a good staff member, they need to be a good fit for our hospital, our culture and ethos as well."
He said Bon Secours Limerick has had over 8,500 applications over the last 12 months and has hired around 150 or so staff.
The phased opening began with the relocation of the first set of services, including the hospital's new cardiac catheterisation laboratory - the first such private cath lab in Limerick and the wider Mid West.
The facility also has a brand-new service - a hospital access unit, which can be accessed by patients referred by GPs.
There are also nods to Limerick in the design of the hospital including the crescent shape of the building, glass bridges named after bridges near the old Barringtons hospital, as well as wards named after Limerick saints, St Munchin and St Lelia.
