Larry Goodman looks set to take majority control of Blackrock Clinic, a private hospital located in south Co Dublin which made profits of €12.4m in 2018.

On Friday, the competition authorities were notified that Parma Investments, a company controlled by Larry Goodman, is to acquire sole control of Blackrock Hospital Ltd.

Using a number of companies under his control (Breccia and Irish Agricultural Development Company), Larry Goodman controls 37% of Blackrock Clinic today.

The remaining shares in the hospital are controlled by Dr Joseph Sheehan (28%), Dr James Sheehan (16%) and Dr George Duffy (20%), who were among the surgeons who co-founded Blackrock in 1986.

Following a Supreme Court ruling in January, it looks like Larry Goodman will be able to take majority control of Blackrock Clinic by acquiring the 28% stake of his rival shareholder in the hospital Dr Joseph Sheehan.

This would give Goodman a majority 65% stake in Blackrock Clinic, making him the largest shareholder in the hospital by quite a distance.

Private healthcare

Blackrock Clinic is one of the leading private healthcare providers in the country with almost 170 private beds. The company behind Blackrock Clinic has capital reserves of more than €100m and was ordered by the High Court to pay out €5.4m this year to Larry Goodman's company Breccia Unlimited.

Larry Goodman has long had a keen interest in healthcare investments and is now one of the largest players in the private healthcare sector in Ireland.

On top of his investment in Blackrock Clinic, Goodman also holds a 31% stake in the Hermitage Clinic, a private hospital in Lucan, and has recently taken 100% control of the Galway Clinic private hospital after paying around €15m last year to acquire the remaining 25% stake in the Galway city hospital.