Specialist Orthopaedic & Sports Medicine Hospital To Focus on Continued Growth of Patient Services and Facilities
Dublin, Ireland – Carlyle Cardinal Ireland (CCI), the private equity fund established by The Carlyle Group (NASDAQ: CG) and Cardinal Capital Group, has agreed to an investment in Sports Surgery Clinic (SSC), a private hospital specialising in orthopaedic surgery, spinal surgery and sports medicine. The investment, terms of which are not being disclosed, is expected to complete in the coming months.
SSC, located in Santry, Dublin, is a state-of-the-art private hospital dedicated to orthopaedics and sports medicines. Launched in 2007, SSC introduced world-class facilities and treatment into Ireland for orthopaedic joint-replacement surgery, spinal surgery and sports medicine. The hospital has quickly grown to become a premier provider of both sports medicine and orthopaedic joint-replacement surgery in Ireland with a reputation for leading-edge innovation and highest standards of patient care.
Facilities at SSC include five ultra-clean-air operating theatres dedicated to orthopaedic and spinal surgical procedures, a diagnostic-imaging service including two 3-Tesla MRI scanners and a 64-slice CT scanner, and an expansive physiotherapy and rehabilitation department incorporating wellness and health-screening facilities. A recently developed sports medicine-dedicated laboratory provides performance rehabilitation, running clinics, fitness testing and physiotherapy services. Currently employing over 300 people, SSC’s capacity comprises 63 in-patient beds, 26 day-care beds and 21 on-site consultancy suites.
Jonathan Cosgrave, Managing Director, The Carlyle Group and John Dolan, Managing Director, Cardinal Capital Group, will join the board of directors of SSC upon completion of the investment.
Dr. Josh Keaveny, Chief Executive, SSC said: “With our patient-focused model of care we are continuously exploring the science and medicine related to sports injuries, athletic performance, joint replacement and spinal injury. We aim to keep people of all ages fit and active. The investment from CCI allows us to accelerate our growth and we plan to begin work in the near future on expanding the hospital. This expansion will significantly increase our capacity which will enable us to treat more patients.”
John Dolan, Managing Director, Cardinal Capital Group, said: “CCI’s financial backing of SSC’s expansion plan will add two additional theatres, which will increase surgical capacity by 40%, meaning more of the population can readily access the hospital’s leading facilities and consultants. With an increased focus on exercise and wellness, more and more people are looking for restorative procedures, particularly knee and hip replacements, and shoulder surgery. SSC’s specialist orthopaedic and rehabilitation expertise has allowed it establish a national reputation for treating injuries in both professional and amateur athletes, and members of the wider population.”
Jonathan Cosgrave, Managing Director, The Carlyle Group, said: “SSC is CCI’s second healthcare sector investment and we are excited to be partnering with such a high quality, ambitious management team and group of staff. Planned increases to SSC’s operating capacity will expand SSC’s workforce and we look forward to adding new consultants, nurses and other healthcare professionals to the SSC team. The Irish population aged over 65 years is forecast to increase 45% by 2030 driving a significant increase in annual demand for hip and knee joint replacements, and SSC’s management team and staff are well positioned to service this growing patient demand.”
CCI has been an active growth investor in the Irish market since 2014. SSC is the fund’s tenth investment and the fund continues to explore other investment opportunities. Current fund investments include The AA Ireland, Payzone, Carroll Cuisine, Learning Pool, McCauley Pharmacy Group, Abtran and Millicent Pharma. CCI previously invested in Lily O’Brien’s and General Secure Logistics Services (GSLS), both high-growth companies run by first-class management teams, each of which underwent an exit process in 2018.
CCI’s investment in SSC is subject to approval from the Competition and Consumer Protection Commission (CCPC).
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The Carlyle Group
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Cardinal Capital Group
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About Sports Surgery Clinic (SSC)
SSC’s goal is dedicated to delivering the highest standards of diagnosis, prehabilitation, treatment, rehabilitation and full recovery care for its patients. The hospital aims to provide an exceptional working environment for staff with a focus on continuous education and quality improvement to support excellence in patient care.
SSC’s facilities are built with optimised patient outcomes in mind. They include five ultra clean-air operating theatres, a world-class diagnostic imaging department, an expansive physiotherapy department, a wellness and health screening facility, as well as dedicated research laboratories which highlight the commitment that SSC places on promoting future breakthroughs in orthopaedic surgery.
SSC offers patients all the advantages of the newest technologies, including 21 on-site consulting rooms that ensure rapid and smooth access to consultant expertise on a continuous basis. The hospital houses some of the world’s most advanced radiology equipment including two 3-Tesla MRI scanners and a 64-slice CT scanner, both of which yield superior image quality and resolution, particularly in the diagnosis of soft tissue and orthopaedic injuries.
Patient comfort is at the heart of the service provided by the SSC. In total, the clinic offers 63 in-patient beds in addition to 26 day-care beds. Each patient room has its own ensuite bathroom with shower, and entertainment centre incorporating internet, radio and telephone access along with both clinic and treatment information.
About Carlyle Cardinal Ireland
Carlyle Cardinal Ireland is a joint venture between The Carlyle Group (NASDAQ: CG) and Cardinal Capital Group. The €292 million private equity fund is focused on growth capital and buyout investment opportunities across the island of Ireland.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $216 billion of assets under management as of December 31, 2018, Carlyle’s purpose is to invest wisely and create value on behalf of our investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,650 people in 31 offices across six continents.
The Carlyle Group is a seasoned investor in the hospital sector. Notable hospital investments include Schoen Klinik (Germany – 17 hospitals), Rede D’Or São Luiz (Brazil – 38 hospitals), Healthscope (Australia – 45 hospitals), Medical Park (Turkey – 18 hospitals) and Medanta (India – 3 hospitals, 1 Day Care Facility and 2 new hospitals under construction).
About Cardinal Capital Group
Cardinal Capital Group is Ireland’s leading provider of alternative capital, directing private-equity capital, mezzanine finance and alternative lending to a broad range of sectors in the Irish market. Cardinal invests its own capital alongside institutional funders to support entrepreneurs and corporate management teams as well as real-estate investors and developers.