The buy over of INSO by Ship Building Giant Fincantieri Group seem to have lightened the load for the St. Maarten Medical Center (SMMC) and to finally realize the possibility of the Hospital project on its way to be built. A press release from the St. Maarten Medical Center on November 18 confirmed the purchase of INSO which undoubtedly were having serious financial problems but was charged with the responsibility of constructing the New Hospital.
Some members of St. Maarten Parliament who have been looking into the history and legality of INSO discovered the company was having Major financial issues and could have run into difficulty with the construction of the new Hospital Project. They were not only right but they questioned the reason for the then Minister of Health to award the bid to INSO even after learning the Italian Company was having bankruptcy protection.
The SMMC Hospital is reporting in its release, that the sale of INSO includes Fincantieri taking over all current orders in the INSO portfolio, which includes the construction of SMGH, and all staff for a minimum of 3 years. The purchase agreement should give comfort to SMMC after it appears nothing was happening with the construction of the new Hospital for several months now.
SMMC Medical Director, Dr. Felix Holiday, in the release stated: “SMMC do have the option to accept the buyer under their agreement with the EAP commissioners and look forward to a meeting in the near future to discuss the opportunity with such an established, large ship building and infrastructure contractor, and what would be mutually beneficial with the continuation of INSO under its new ownership”
INSO’s project manager for SMGH, Carlo Orlanducci, also stated: “They are happy to close the EAP process and look forward with enthusiasm to continue with the construction of SMGH as per their current construction plan and timeline”. More information about the Fincantieri Group can be found at: www.fincantieri.com.