Technoline answer to allegations made by PN MP

Allegations made by PN MPs Jason Azzopardi in Parliament about Technoline and its Managing Director Ivan Vassallo have been “denied most categorically” in a statement by the company.

Vitals statistics: €1 sale yielding a profit of millions

The statement went on to say that the allegations “are completely unfounded” and merely “a malicious attempt at gaining political mileage”. Technoline said that the allegation that the company is owned by Vitals Global Healthcare (VGH), Steward Healthcare International (SHI) or anyone related to the Government “is clearly untrue and factually incorrect”.

“Absolutely no experience with regards to the health sector” – Azzopardi

Facts listed by the company:

  1. The only single owner of both Gateway Solutions Ltd and Technoline Ltd is Ivan Vassallo after a management buyout in 2017.
  2. VGH, SHI, or any other party “have not acquired Technoline Ltd”.
  3. The loan required to buy out Technoline from previous shareholders was between Gateway Solutions Ltd and VGH. “It is secured by a pledge on shares and Ivan Vassallo’s personal equity.”
  4. The Supply Chain Management Contract was based on VGH’s original plans for a concession in Malta and business abroad.
  5. Technoline Ltd has reached out to other local distributors on behalf of VGH and SHI.
  6. The company’s agreements with VGH and SHI so not include the Government or its entities.
  7. Technoline Ltd are not funded by any commercial entity, VGH or SHI with the company’s operated with local banks.

The statement was concluded with a warning including “all legal avenues as determined by [their] legal advisors” in order to protect the company’s reputation from “malicious and politically motivated false news campaigns”.