Steward Healthcare releases financial accounts in wake of hospitals controversy

Steward Healthcare has released all management accounts for the years in which it was granted the concession to run three hospitals in Malta and Gozo.

The company launched a microsite on Friday with all management accounts ranging from 2015 till 2021.

It also provides a consolidated financial position of the concession.

On this website, Steward Healthcare said it discovered liabilities totalling €61 million relating to VGH’s prior ownership of the concession.

The company also states that the government never provided the agreed level of personnel to run the hospital sites.

“As part of the healthcare service delivery, Steward Malta therefore had to fill in the gaps from its own purse with personnel hired directly or through contracted services, such as care workers, cleaners, clerical, and security staff.”

This comes after the Prime Minister wrote to the Auditor General asking him to investigate the Opposition's allegation that €400 million in taxpayer money went to waste on the Steward hospitals concession.

Steward Healthcare bought the concession from VGH less than two years after it was initially granted to VGH. The company sold its concession to Steward Healthcare together with €55 million in debts accrued by VGH, for the nominal price of €1.