German-based healthcare investor IMMAC Group has acquired two nursing homes in Ireland, building its presence in the Irish market.
The company said it had bought St Gabriel's Nursing Home in Raheny, Dublin, and Beechpark Nursing Home in Kildare.
The acquisitions will bring the number facilities it owns here to five, with 312 residential beds in its Irish portfolio operated by Beechfield Care Group. IMMAC acquired the care group, which includes Dublin nursing homes Beechfield Manor in Shankill, Glengara Park in Glenageary and Mount Hybla in Castleknock, in December 2017, marking its entry into the Irish market.
"These acquisitions are a further significant step in the execution of our strategy to build a group of scale in the Irish nursing home market," said IMMAC managing director for Ireland Noel Boyle. "We continue to review a number of opportunities across this sector and we anticipate further additions in the coming months."
IMMAC is a leading investor in the healthcare sector in Europe, with €1.65 billion under investment in 154 nursing homes and 12,500 beds across Germany, Austria and Ireland.
"Beechfield is one of the leading nursing home care providers in the country with a strong track record in the provision of high-quality residential elderly care," said Sarah Mc Mickan, chief executive of Beechfield Care Group. "We are very pleased indeed to be announcing the addition of St Gabriel's and Beechpark to our leading group of nursing homes. It will be an excellent fit and will consolidate our standing in the sector as a respected and established provider of residential elderly care in Ireland."