St James Group today announced its decision not to proceed with the sale of the St James Capua Hospital. The hospital will continue to be managed by the Muscat family, the group said in a statement.

Following approaches by a number of prospective investors, which resulted into months of intensive negotiations, the management of St James Group decided to retain its full shareholding and operations of St James (Capua) Hospital.

St James Group said it is aware of the high value of its brand, based on many years of high quality healthcare provision, and to this end will undertake incremental restructuring of the services offered in light of the challenges posed by the impending new dynamics in the private sector. 

St James Group strongly believes that the private sector is the main engine of growth for any modern market economy and is committed to collaborate with other market operators, both in the private and public sector, who share its vision for quality healthcare. 

Last March, it had been announced that St James Hospital in Sliema was to be sold to foreign investors, a group of American and Palestinian businessmen.

The deal, worth millions, was however never reached and the group later entered into negotiations with a second group of potential investors.

The group has now said that it will be retaining the hospital under its wing.