Ventilator Debt: Narooma Still Chasing HSE for €2.7 Million

Narooma Limited is still pursuing the Health Service Executive for a principal sum of approximately €2.7 million, according to financial statements filed this month. The Dublin-based medical devices company, owned by John Ward, has been trying to collect this debt since an international arbitration ruling in May 2025. The ruling ordered the HSE to pay the firm close to €2.77 million for breaching a contract related to the procurement of ventilators during the pandemic.

The company’s latest accounts, approved on October 14, state that the HSE is liable for the principal amount plus simple interest at 2 percent per annum. The interest is calculated from March 19, 2021, until the date of final payment. A note in the financial documents indicates that Narooma was still taking steps to recover these awarded amounts as of that date. The arbitration ruling also required the HSE to cover the company’s full costs of the arbitration and related legal and procedural expenses.

Previous reporting by the Irish Examiner suggested the total bill for the HSE, including these additional costs, would reach almost €6 million. An HSE spokeswoman declined to comment on the specific award due to confidentiality obligations. However, she confirmed that the health service has discharged any applicable payments, including interest, under the terms of the award.

The dispute began in April 2020 when Ward sued the HSE. The health service had failed to pay for 350 ventilators it agreed to acquire in a deal worth €7.5 million. The International Chamber of Commerce International Court of Arbitration issued its ruling in May of last year, finding the HSE liable for the breach of contract. The decision resolved the primary dispute between the two parties regarding the ventilator procurement.

Narooma Limited recorded a profit of €1.8 million in its latest financial year, which ended on March 3. The Irish Times understands that this profit was partly linked to the HSE paying a portion of the sum owed to the company. The positive result pushed the firm into profitability, with accumulated profits now sitting at close to €1.7 million. At the end of the financial year, the company held €1.8 million in cash at the bank.

In addition to the arbitration case against the HSE, Narooma Limited initiated a separate High Court action against IDA Ireland in October 2020. This claim relates to the same ventilator deal. Court records show that the case was listed for mention last Friday and was subsequently adjourned. A further mention is scheduled for November 27.

John Ward, the sole director and owner of Narooma Limited, stated in a statement that the company is bound by a confidentiality agreement governing its arbitration with the HSE. Because of this agreement, the firm cannot comment on the details of the award. Ward said the company is pressing ahead with its separate High Court claim against IDA Ireland for tortious interference with its commercial interests.

An IDA Ireland spokeswoman said the organization was precluded from commenting at this time because the matter is currently before the courts. Narooma Limited lists Ward as its only director. He is also a director of three other companies, including Servblock Limited, a start-up that uses blockchain technology to assist pharma sector manufacturers with quality compliance.