BREAKING: Fine Gael's Mairead McGuinness pulls out of presidential race

Fine Gael's presidential candidate Mairead McGuinness has announced that she has withdrawn from the race. 

In a statement, issued on Thursday afternoon,  the former EU Commissioner said: "I have made the very difficult decision to withdraw my name as the Fine Gael nominee for the Presidential election.

"This decision is not lightly taken and follows a stay in hospital last week.

"My priority now is my health. Given that the election is in a short couple of months, I do not believe that I have the strength to give the campaign my all."

The Louth native said the decision was made on medical advice and while it was a difficult choice to make, "it is the right decision for me and my family."

READ MORE: 'I went insane' - Joanna Donnelly lifts lid on graveyard argument before Met Éireann exit

She added that while she knows this will come as a shock and disappointment to party members and colleagues in Fine Gael, "our political family is strong." 

Ms McGuinness went on to thank Tánaiste Simon Harris for his understanding and her supporters who have "done so much" for her. 

"My focus now is my health and my family, and I ask for privacy in the time ahead," the Fine Gael member concluded. 

Mairead McGuiness had long-been the favourite to win the election and succeed President Michael D Higgins.