Prince Court CEO resigns

It is understood that the management has briefed Prince Court Medical Centre's staff about Stuart Rowley's resignation.
 
The chief executive officer of internationally accredited private healthcare facility Prince Court Medical Centre (PCMC), Stuart Rowley, has tendered his resignation, sources say.

Rowley was one of three key management staff of the hospital that was asked to go on leave on June 22 2010, pending an outcome of an audit review.

It is understood that the audit findings are currently being reviewed.

The other two key personnel told to go on leave are the chief medical officer (CMO) and the legal adviser. It is not known if the CMO and legal adviser have resigned.

In a press statement to Business Times last week, PCMC had said that the three were requested to take leave in the interest of objectivity and to enable the audit to be concluded satisfactorily.

PCMC is owned by Petronas Hartabina Sdn Bhd, a unit of state-owned oil company Petroliam National Bhd (Petronas), and managed by Vamed Healthcare Services Sdn Bhd and its partner, the Medical University of Vienna International Hospital Operations GmbH.

Business Times was unable to confirm if Rowley, who is also listed as a director of Petronas Hartabina since 2005, has resigned from this post.

The hospital has assured that changes have not affected the day-to-day operation or the level of patient care, and interim personnel had taken over relevant functions.

Vamed Healthcare Services managing director Stuart Pack is said to have stepped in to take over some responsibilities and will stay on until the audit is completed.

Pack could not be reached to confirm the developments as he was in a meeting. It is understood that the management has briefed the hospital's staff about Rowley's resignation.

Rowley could not be reached for comment.

PCMC had been a subject of much discussion since its opening in late 2007 over the lavish amount spent to build and equip it.

While the official price tag for the 300-bed hospital is reported as RM544 million, many say that the price has crossed the RM1 billion mark, including for the leasehold land (for current and future development) and equipment.

In a 2008 interview, Rowley said he expected the hospital to be operationally profitable by the end of the second year and will achieve net profit in eight years.

Last year, it was reported that the hospital, which focuses on health tourism, was looking to achieve sales of RM120 million in the financial year ended March 31 2010.

In 2009, the hospital posted a loss before tax of RM203.25 million on the back of RM24.12 million revenue.

By Vasantha Ganesan

Business Times