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Larry Goodman is soon set to own a 75% stake in Galway Clinic, following a multimillion shares buyout. Founding surgeon at the clinic, Jimmy Sheehan has announced he is intending to sell his shares to Goodman’s medical company, Pharma Investments.
The €31m buyout would see Goodman, who already owns a 50% stake in the medical centre, increase his shares to 75% and take control of the private hospital. The businessman also recently bought a 10% share in the company from Louth accountant Brendan McDonald.
In addition to his shares in the Galway Clinic, Goodman also owns a large stake in the Blackrock Clinic, along with the Hermitage Medical Clinic in Lucan.
Court battles
At present, Goodman is embroiled in a court case with Jimmy Sheehan’s brother, Joseph, who is looking to buy back a HIG Capital loan from the businessman.
Earlier this year, the businessman’s portfolio of companies was examined by the High Court, following a legal battle of shareholding at the Blackrock Clinic.
The Goodman empire
Galway Clinic is currently the largest private hospital in the west of the country and previous accounts filed for the clinic in 2014 showed profits totalling €12.8m.
Larry Goodman’s business empire includes ABP meat processors, along with several property investments and he is said to be worth in the region of €680m.
Web of Goodman companies to be explored in ongoing court case
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