The South Asian Institute of Technology & Medicine (SAITM) management yesterday refuted claims allegedly made by Sri Lanka Medical Council former Chairman Prof. Carlo Fonseka that the SAITM had earned a Rs.1,265 million profit.
The management issuing a media communiqué noted that it wishes to place on record that the statements made to the media and the general public by Prof. Carlo Fonseka are completely inaccurate.
“The false statements made by Prof. Fonseka is an attempt to provoke University students who are being misled by various fractions in order to halt private medical education in the country,” the statement said..
“In regard to the accusations made by Prof. Fonseka, the SAITM wishes to clarify with the public that at no point has SAITM earned Rs.1,265 million in profit,” it said.
The statement said, the SAITM was built with a personal investment from Dr. Neville Fernando at a cost of Rs.700 million within a 4-acre land in Malabe housing 120,000 sq. ft.
Following the obstructions from the GMOA to carry out clinical training, the SAITM built its own teaching hospital to accommodate the necessary training. Subsequently, SAITM acquired Rs.2 billion as a loan for its construction and equipment where annually around Rs.500 million is repaid to service the loan in addition to other operational expenses incurred by the institution.
The income obtained through student and patient fees were annually been reinvested in improving facilities at the hospital and the SAITM for the benefit of students and its patients.
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