Pre-tax profits at the country’s largest privately owned hospital group last year increased by 20% to €11.68m.

The operations of Shanakiel Hospital are to be moved to the former Cork Medical Centre in Mahon in a move which will see the VHI provide cover for patients using the state-of-the-art €90m facility.

A €90m privately-developed hospital with the potential to create 250 jobs is to remain closed after the State-owned VHI said the facility is not required to meet its needs in Munster.

UP to 800 nurses in the country’s largest private hospital network will consider strike action if management refuses to return a 5% pay cut “unilaterally” implemented at the start of the year.