Boundary Capital, the investment firm led by Niall McFadden, said today it has a 60 per cent stake in Synchrony Healthcare, a firm set up to construct a private hospital on the grounds of St James’s Hospital in Dublin.
Synchrony Healthcare has signed an agreement with the Health Service Executive (HSE) and St James's under the Government's co-location programme. The deal will see it build a new facility providing 195 in-patient beds, 72 outpatient beds and eight operating theatres.
Under the terms of the agreement Synchrony Healthcare has been granted a 65-year lease.
With almost 1,000 inpatients beds, St James's Hospital is the largest in the country and treats about 300,000 patients per year. It is one of the eight designated national cancer centres and provides national clinical specialties in a wide range of areas.
A performance bond with a maximum limit of €20m has been agreed, and Boundary will guarantee this on behalf of Synchrony. Boundary said the maximum liability arising for the company will be €1m.