CareMalta Group CEO James Sciriha has stated that the local care sector will continue to change and develop over the next five years.
He was speaking during an interview for Arkati, a publication by Vassallo Group, the wider group which includes CareMalta, as well as Vassallo Builders Ltd, CaterEssence and Vassallo Group Realty, among other organisations.
CareMalta is Vassallo Group’s care wing, providing services related to nursing and residential care through its multiple care homes, independent living for older persons, specialised dementia care, and certified courses in health and older persons care. The company stated that the elderly care sector has become “increasingly competitive”, and in that way, it strives to strengthen its social approach.
Mr Sciriha, who has led CareMalta as CEO since 2022, said that CareMalta is Vassallo Group’s “social conscience” and it plans on “keeping it that way”.
Through another organisation within Vassallo Group, HILA, CareMalta aims to continue diversifying its services, with future plans covering alternative care settings for children and end-of-life care. Mr Sciriha remarked that he hopes CareMalta will eventually “branch out” and provide its services abroad.
The care sector faced plenty of challenges in recent years, particularly due to the COVID-19 pandemic, which left many employees, residents, and their relatives facing emotional and psychological repercussions. Despite this, the care sector still managed to grow over the years, with various companies opening new homes for the elderly across Malta and Gozo.
Mr Sciriha welcomed this competition, yet feared that the increase in residential homes could potentially transform the sector into one that is “merely a business venture”, rather than placing the care of the elderly as the priority.
“For Vassallo Group, the care sector has always had minimal profit margins, and CareMalta managed to remain strong as it operates a good number of homes,” he said.
“I believe that focusing on strengthening the wellbeing of our residents, rather than being carried by the money-making currents, will help us retain our competitive edge,” he continued.
Mr Sciriha explained that in the next five years, the dynamics of the care sector will “continue changing”, with more private businesses set to “probably open more care homes”.
“However, despite the increase in the number of homes by the private sector, it looks like people are becoming less willing to be admitted into private residential homes, and would rather stay in homes run by a private-public partnership,” he concluded.
CareMalta Group CEO James Sciriha / CareMalta
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