A BELFAST-based property company has sold one of Britain's top private hospitals to a healthcare group in a deal worth more than £90 million (€114.56 million).
Ballyrogan Holdings, which is owned by the Jennings family, has sold the Cromwell Hospital in London to Bupa.
Based in Kensington, the Cromwell is one of Britain's leading independent hospitals.
It attracts a large number of celebrity patients - George Best underwent a liver transplant at the hospital in 2002 and also received further treatment before his death.
The Cromwell Hospital has earned a pioneering reputation since it was purpose-built in 1981.
More than 600 consultants, mainly drawn from London teaching hospitals, currently practise there.
They provide expertise in a range of more than 70 specialities and are supported by a staff of 550. The hospital provides facilities for around 130 inpatients but also offers extensive outpatient services.
It is highly regarded for its investments in state-of-the-art medical equipment and oncology services.
The hospital promotes a particular expertise in neurosciences and paediatrics, but its other main specialities include family medicine and diagnostics.
The Northern Ireland-based Jennings family was a majority shareholder in the hospital together with the Canadian Hospitals Network.
The Jennings family said they had concentrated on introducing "sound commercial efficiencies" at the hospital to complement its "world-class clinical attributes".
Shamus and Francis Jennings said yesterday they believed this job was now done.
"The time is right for the hospital to move into a new phase of development and we are delighted to transfer ownership to Bupa, who have pledged to make further investment and create a flagship private hospital in the capital city."
Bupa has said it now plans to invest £30 million (€38 million) in the Cromwell Hospital over the next two years.
Fergus Kee, managing director of Bupa Health Insurance, said their private patients told them that they wanted more high-quality private health services in London.
"We believe there is tremendous opportunity to introduce modern, innovative ways of delivering healthcare in the capital, offering high levels of customer service, clinical excellence and more cost-effective care," he said.
Hume Martin, chief executive of the Cromwell, said: "Under the leadership of the Jennings family, the Cromwell Hospital has reached a new level of service delivery, which has brought significant benefits to both patients and staff whilst creating a much more effective healthcare business.
"Their strategic direction has put us in an excellent position to fulfil our potential with new owners Bupa."
The Jennings brothers said that, following the sale of the hospital, they intended to focus on new opportunities through their urban regeneration and property company Cusp - which has a property portfolio valued in excess of £500 million (€636 million).
They said they would also forge ahead with their joint venture partnership Culzean Holdings, formed to develop branded hotels such as Marriott, Holiday Inn and Ramada throughout Ireland.