Foresight Group LLP (“Foresight”) has made a £5 million growth capital investment into Northern Ireland’s largest private healthcare business, 352 Medical Group Limited (“3fivetwo” or the “Company”).
The investment was made via a new fund managed by Foresight in partnership with 57 Stars, dedicated to investing in businesses with the potential to boost the economy of Northern Ireland.
Founded in 2004 by NHS Consultant Obstetrician and Gynaecologist, Suresh Tharma, 3fivetwo began by providing services such as health screening, 3D obstetrics and gynaecology scanning. Since then the Company has grown significantly, first and foremost as a service provider for private patients and also as a provider of clinical outsourcing to the NHS. The Company comprises principally of two private hospitals located in Belfast in Northern Ireland and Sligo in the Republic of Ireland.
The investment from Foresight will be used to increase theatre and ward capacity at both facilities, with a conversion of the theatres and a 6-bed extension to the main wards planned to commence in 2019.