UPMC ups interest in Ireland hospital - Pittsburgh Business Times:

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The bigger share in the Dublin-area will cost the region’zs dominant hospital network $34.6 million, according to a storhy that appeared Sunday in the Irish In addition, UPMC will put up anothe $34.6 million to guarantes existing bank loans, plus inject anothed $25 million in working capital for the As part of the deal, UPMC will acquirwe a two-thirds share in the entity that owns the hospital UPMC has been funding the hospital’s working capitall needs since the start of the year, accordingt to the newspaper, and Beaconh is a privately developed hospital that ran into financial problems last October when Ltd. stoppeds making payments on twobank loans.
The deal also would give UPMC a 40 percent interest in the companies that are developingg threemore so-called co-location hospitals, whichg are privately developed institutions designed to relieve overcrowding at publicly ownee and operated hospitals. “We believe that this investmentf will result in positive returns that will be reinvestedd to serve our patientsa in Ireland andin Pittsburgh,” accordiny to a UPMC statement released “We are confident this restructuringh will receive all necessary approval s from the banks and tax investors and expect the transaction to be completed in July.
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