Hibernia Capital Partners has invested funds in a British-based hospital waste disposal group as part of a deal which values the company at £16.5 million (€21 million). Hibernia, part of the Reihill Venture Capital Group is understood to have invested €5.5 million (£4.3 million) in the company, called Eurocare. Hibernia is the largest single shareholder in the firm.

This is Hibernia's fifth investment since its €80 million fund-raising in April 1998. Hibernia managing partner Mr David Gavagan said the fund liked to back companies with strong managements which were leaders in their field. He said a recent €30 million contract to manage all Scotland's clinical waste over 10 years, would help ensure a strong revenue stream.