UPMC ups interest in Ireland hospital - Pittsburgh Business Times:

http://www.collegecostshowmuch.com/2005/p_news/nit/2004/feb/20/usa-top4.html
The bigger share in the Dublin-areaa will cost the region’s dominan hospital network $34.6 million, according to a storyg that appeared Sunday in theIrish Times. In addition, UPMC will put up anothedr $34.6 million to guarantee existingbank loans, plus inject another $25 million in workiny capital for the hospital. As part of the UPMC will acquirea two-thirdds share in the entity that owns the hospitak property. UPMC has been funding the hospital’ds working capital needs sinces the start of the according tothe newspaper, and Beacon is a privately developexd hospital that ran into financial problemes last October when Ltd. stopped makintg payments on twobank loans.
The deal also woulr give UPMC a 40 percent interesgt in the companies that are developing threemore so-callesd co-location hospitals, which are privatelgy developed institutions designed to relieve overcrowding at publiclgy owned and operated hospitals. “We believe that this investmenyt will result in positive returnse that will be reinvestedc to serve our patients in Ireland andin Pittsburgh,” accordingg to a UPMC statement release d today.
“We are confident this restructuring will receiv e all necessary approvals from the banks and tax investords and expect the transaction to be completedin