The government of Malta selected in June 2015 Vitals Global Healthcare as the preferred bidder for the upgrade of three hospitals through a concession.
The concession includes the redevelopment, maintenance, management and operation of three hospitals on the island, namely St Luke's Hosptial, Karin Grech Rehabilitation Hospital and Gozo General Hospital. Specifically, the project involves the following:
- the addition of 175 long.term beds to the Gozo hospital, and the development of a medical school and campus to be used by Barts Medical School.
- the development of the St Luke's Hospital, which will have 220 private beds and will specialize in orthopaedics, cardiovascular diseases and prosthetics. The hospital will also include an 80-bed rehabilitation centre.
- the transformation of the Karin Grech Hospital,which is currently being used as a rehabilitation centre, into a 320-bed geriatric public hospital.
The total project investment is estimated at €200 million (US$226.8 million). DWPF is providing financial advice and financial modelling support to Vitals Global Healthcare on the project.
Financial closure is expected to be achieved by the first quarter of the next year.