UPMC posts €72m loss on Beacon Hospital disposal

The main Irish arm of US medical firm, the University of Pittsburgh Medical Centre recorded a loss of €71.9m on its disposal of the Beacon Hospital last year, new accounts show.

UPMC Ireland Ltd sold the clinic and relinquished all management responsibilities at the private hospital in Dublin early last year.

Ulster Bank sold loans linked to the Beacon to the billionaire businessman, Denis O’Brien, allowing him to take control of the hospital.