James Sheehan, chief executive of Sheehan Medical, said the aim was ‘‘to make the Cork Medical Centre the most high-tech facility ever developed in Ireland.

‘‘Siemens is an important part of this aim. Their ability to provide an integrated approach that covers innovative technology will allow us levels of diagnosis and treatment that will be in unsurpassed in this country.”

The Cork Medical Centre will have 75 single in-patient bedrooms.

The hospital’s main focus will be surgery and there will be four operating theatres and a day surgery centre with twenty out-patient beds.

The hospital, which is located at the City Gate Complex in Mahon Point, will have a strong focus on neurology and cardiology. It is expected that it will create 300 direct jobs and 150 ancillary positions.

There will be 75 doctors onsite, providing up to 39,000 patient treatments annually.

A number of doctors have taken equity in the operating company and Sheehan said he expected it to enhance competition in the south of the country. Sheehan has already stated he would undercut the prices levied by hospital owner-operator Bon Secours by 10 or 15 per cent.

Sheehan Medical was set up to operate private hospitals in Britain and mainland Europe. The company is operated by James Sheehan and his father Dr Joe Sheehan, a US based surgeon.

Joe and his brother, Dr Jimmy Sheehan, were involved in setting up the Blackrock Clinic in Dublin in 1984 and the Galway Clinic in 2004.

Jimmy Sheehan is not involved in the Cork hospital.