The Little Company of Mary Sisters, which owns and runs Mount Carmel Hospital in Dublin, has entered into exclusive discussions with Harlequin Healthcare to purchase the hospital, writes Siobhán Creaton, Finance Correspondent

In a statement, the religious congregation said it hoped that these discussions would lead to a successful conclusion within the next two weeks. If they fail to agree the transaction, the religious order said it intended to instruct its advisers to re-commence discussions with other interested parties and bidders.

Four groups accepted the invitation to bid for the hospital. The other prospective bidders are: Beacon Medical Group; Mount Carmel Medical Consortium; and AMNCH, which is Tallaght Hospital.

The four have examined Mount Carmel's financial and operational information and have visited the facility with its management teams in recent weeks.

No details of the price have been issued and Mount Carmel and Harlequin Healthcare both refused yesterday to make any further comment.

The order has stated that they are determined that the hospital should continue as a going concern for general medicine and maternity services under a new hospital operator.

Harlequin Healthcare is a healthcare and hospital company that owns hospitals including St Joseph's in Sligo and Aut Even in Kilkenny. The group was established in 2003 by developer Jerry Conlan who is currently its chairman. The company's chief executive, Joe Kelly, has worked for more than 15 years in the private acute hospital sector.

IAWS directors Philip Lynch and David Martin are also on the board of the heathcare group.

Harlequin has a €25 million development plan at Naas, Co Kildare where it is seeking planning permission for a proposed 40-bed day hospital. The proposal includes 12 consulting suites, three operating theatres and comprehensive diagnostic equipment. It is expected to generate 150 full-time jobs in the independent healthcare sector on completion.

Harlequin employs 250 staff and has a turnover of €16 million.

The religious order of nuns decided to sell the hospital due to a fall-off in vocations which means they no longer have sufficient members to take an active interest in it. It appointed Prospectus Consultants to find a suitable buyer.

The hospital has recently completed a €15 million upgrading of its facilities, including the commissioning of a new day care centre.

The congregation has said the move will allow it to focus on its other activities. It particularly wants to concentrate on continuing to provide care for older people, care in the community and its hospice and homecare services in Ireland.

Mount Carmel Hospital was opened in 1949 by the Little Company of Mary.

It employs 350 fulltime staff and has 150 beds providing maternity, general and day ward services.