Mater Private Network, Ireland's leading private hospital group, has completed a €520 million ($603 million) senior secured refinancing, Arthur Cox has confirmed. The seven-year debt structure includes a new capex facility to support continued investment in healthcare infrastructure, innovation, digital transformation and patient services.

The facility was provided by a diversified group of lenders comprising commercial banks and funds managed by institutional infrastructure debt investors, including AIB, Bank of Ireland, Intesa Sanpaolo, Nord/LB and Alpha Bank, alongside BNP Paribas Asset Management and Edmond de Rothschild Asset Management. The deal refinances a financing package raised in 2022.

"The new financing structure provides the flexibility and capacity required to support the company's continued investment in high-quality patient care across Ireland and next phase of development," said Pauline Fiastre, financing director at InfraVia.

"This refinancing provides MPN with a strong financing framework to continue investing in our people, facilities, technology and services, while further strengthening our contribution to the Irish healthcare system," said Daragh Kavanagh, chief financial officer of Mater Private Network.

Mater Private Network operates a national network of 11 locations and has built specialist expertise across heart and vascular, cancer, spine and orthopaedic services. The group is backed by InfraVia, a Paris-headquartered independent private equity firm specialising in infrastructure and technology investments, which acquired the business in 2018.

Arthur Cox advised MPN on the transaction, with the team led by Imelda Shiels in debt finance and Maeve Moran in corporate and M&A, supported by Ross Mullen, Ben Rayner, Adrianna Keenan and Niamh Gunning. Jefferies acted as exclusive debt adviser to MPN.

The structural driver behind the refinancing is sustained lender appetite for core healthcare infrastructure assets, reflecting confidence in MPN's scale and positioning within the Irish private healthcare market at a time when institutional debt investors are increasingly targeting long-duration healthcare real assets.

For the sector, the deal confirms that Ireland's largest private hospital group retains strong access to diversified debt capital to fund its next phase of growth.

Source: arthurcox.com / investorsinhealthcare.com