CCI backs Sports Surgery Clinic Dublin

Clinic chief executive Josh Keaveny told the Irish Times that the deal will enable the private hospital to speed up its growth and treat a greater number of patients. A 38% stake in the business was acquired by CCI, the Irish news channel reported.

The vendors are understood to be a handful of the clinic's original founders, the Irish Times report said. Existing investors include founder Ray Moran, a 30.8% shareholder, and his brother, Kevin Moran, as well as entrepreneur Michael Kinsella.

CCI is a private investment fund sponsored by The Carlyle Group and its affiliates, and Cardinal Capital Group and its affiliates; it invests primarily in buyout and growth equity opportunities. Equity investments will range from €2-50m.

The vehicle closed on €292m in 2014. Some of the fund's most recent investments include Millicent Pharma in 2018 and Sam McCauley Chemists in 2017, according to its website.

Company
Sports Surgery Clinic Dublin, founded in 2007 and located in Santry, Dublin, is a private hospital providing orthopaedic joint-replacement surgery, spinal surgery and sports medicine. 

The clinic generated €42.3m in revenues in 2017 and made €4.5m profit before tax, the Irish Times report said. The hospital has more than 300 employees.

People
Sports Surgery Clinic Dublin – Josh Keaveny (CEO).
The Carlyle Group – Jonathan Cosgrave (managing director).  
Cardinal Capital Group – John Dolan (managing director).

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