Ashok Rattehalli, one of the investors involved with Vitals Global Healthcare (VGH), has withdrawn a warrant of prohibitory injunction he filed against the company and Bluestone Investment Malta, aimed to stop the sale of the concession of three state hospitals to Steward Healthcare System. The withdrawal arrived after an agreement was reached with the investors.

Court documents filed in January had indicated that the injunction was issued to protect Rattehalli's rights in the event of sale or transfer of shares to third parties which would potentially result in the diminishment of the value of his shares within the company.

The documents claimed that VGH has failed to provide Rattehalli, who owns 5% of VGH's shares as stipulated in an Understanding and Promissory Note signed 7 January 2015, with guarantees that his rights will be protected in the sale.

The company had also failed to give Rattehalli the place on the Medical Board he was also promised in the contract.

It appears that Bluestone Investments Ltd has now agreed to transfer to Rattehalli his due shares in VGH.

This was the second prohibitory injunction filed by Rattehali after he had rescinded a previous warrant in December.

VGH has been at the centre of controversy since it transferred its 30-year concession to run three state hospitals to Steward Healthcare System only 21 months into operations.

The transfer will now be able to take place; it is believed that Steward has already begun operations.

The price of the sale of the concession is still unknown. Reliable and well-informed sources have told the newsroom that VGH was forced into a sale due to mounting financial difficulty and that Minister Mizzi had known about the state of affairs for an entire year prior to the announcement.