Technoline today denied the “serious allegations” regarding Technoline and Ivan Vassallo personally made by Nationalist MP Jason Azzopardi in Parliament on Tuesday.

These allegations are completely unfounded and are only a malicious attempt at gaining political mileage, the company said in a statement.

The main allegation made in Parliament was that Technoline Ltd is owned by Vitals Global Healthcare, Steward Healthcare International or an individual or individuals related to the Government of Malta. “This is clearly untrue and factually incorrect,” Technoline said.

"The facts are as follows and are easily verifiable through a simple reference to the Registry of Companies:

1.      The only Ultimate Beneficial Owner (singular) of both Gateway Solutions Ltd and Technoline Ltd is the undersigned, Ivan Vassallo following a management buyout in 2017

2.      Vitals Global Healthcare (VGH), any of the parties mentioned to have an interest in Vitals Global Healthcare, Steward Healthcare (SH), Steward Healthcare International (SHI) and any other party, have not acquired Technoline Ltd.  

3.      The loan that was required to acquire Technoline Ltd from its previous shareholders was between Gateway Solutions Ltd (of which the undersigned, Ivan Vassallo, was and remains the sole shareholder) and Vitals Global Healthcare. 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 initial plans for their concession in Malta and potential business abroad.

5.      Far from adopting a monopolistic stance, Technoline Ltd has always reached out to other local distributors to engage them in its activities on behalf of and for VGH / SHI business.  

6.      None of our agreements with VGH and Steward Healthcare International have had the Government of Malta or any of its agencies or entities as a party

7.      TechnolineLtd’s operations are not funded by either VGH or SHI or any other commercial entity. TechnolineLtd’s operating credit lines are solely via local banks.

“We take the allegations being made extremely seriously and will take effective measures to protect TechnolineLtd’s reputation from malicious and politically motivated false news campaigns. These measures will include all legal avenues as determined by our legal advisors,” the company said.