An inquiry by W Radio, recognized with the 2025 National Journalism Prize Simón Bolívar, has uncovered a complex scheme allegedly diverting notable funds from Colombia’s healthcare system. The reporting details a network of shell companies-including those registered in Spain and Uruguay-and implicates politicians, public officials, and healthcare providers in a pattern of financial irregularities. The probe, titled ‘El Laberinto de los Dineros de la Salud’ (The Labyrinth Where Health Resources Are Lost), raises serious questions about accountability and transparency in the allocation of public health resources, as well as the potential impact on patient care across the contry.
Paula Bolívar, director of W Fin de Semana and Juan Pablo Calvás, deputy director of W Radio based in Madrid, Spain, have been awarded the 2025 National Journalism Prize Simón Bolívar in the investigative radio journalism category. The recognition honors their work, ‘El Laberinto donde se pierden los Dineros de la Salud’ (The Labyrinth Where Health Resources Are Lost).
The investigation uncovered a complex scheme of corruption within Colombia’s healthcare system, revealing how state funds earmarked for medical care have been diverted through a network of politicians, public officials, clinic managers, and shell companies. The findings highlight growing concerns about transparency and accountability in the allocation of public health resources. The scheme allegedly allowed a select few to enrich themselves while numerous healthcare facilities face financial collapse due to a lack of funding.
The judging panel praised the work, stating: “Based on a solid body of documentation and a plural consultation of sources, this exhaustive investigation illuminates the dark webs of power and corruption that permeate the EPS system. With a tone and rhythm of inquiry, the work articulates denunciation, context and analysis with an impressive level of detail. Health, as a right and public good, is revealed as the piece proposes from the title itself: an intricate labyrinth that, precisely because of the difficulty of mapping it, requires an explanatory and clarifying look from a journalistic point of view.”
What did ‘El Laberinto de los Dineros de la Salud’ reveal?
The investigation ‘El Laberinto de los Dineros de la Salud’ identified several irregularities, including:
More information
- The establishment of shell companies in Spain and Uruguay to divert public funds.
- The connection of the Partido de La U (a Colombian political party) to healthcare entities that received inflated payments from the ADRES (the Colombian health administrator).
- The link of Laura Sarabia to the appointments of the interveners responsible for irregular payments.
- The resurgence under the Petro administration of a criminal structure that has allegedly drained the Colombian Health System for two decades.
- The diversion of resources from the Fondo Nacional de Prestaciones Sociales del Magisterio (Fomag) (National Social Security Fund for Teachers) through illegal contracts benefiting lawyers and public officials linked to the Partido de La U.
- The creation of an office to give a semblance of legality to the management of health resources for teachers and the UNGRD (National Unit for Disaster Risk Management) within Fiduprevisora.
Following the investigation of ‘El Laberinto de los Dineros de la Salud’, the Fiscalía General de la Nación (Colombian Attorney General’s Office) opened a criminal investigation against several individuals allegedly involved. To date, the Specialized Directorate Against Corruption is leading at least two lines of inquiry: one concerning transfers from the Ministry of Finance to the Fomag, and another regarding the alleged improper awarding of contracts.
The Fiscalía also requested a comprehensive report from the Contraloría General de la República (Office of the Comptroller General) on contracts between 2017 and 2023, and the composition of the Fiduprevisora board of directors during that period.
How was ‘El Laberinto de los Dineros de la Salud’ investigated?
Over nearly four years, a business group comprised of clinics, medical analysis centers, pharmacies, and other healthcare providers consolidated in Colombia, with a parent company registered as a shell company in Spain. The company’s sole owner is another shell company. This structure raises concerns about financial transparency and potential illicit activity.
These healthcare providers (IPS) have reportedly benefited from extraordinary payments guaranteed by the EPS (Health Promoting Entities) managed behind the scenes by Mario Urán, at the expense of minimal payments to public hospitals. The investigation suggests a deliberate strategy to prioritize private healthcare providers over public institutions.
More information
The situation, as presented by La W, reveals a lucrative business that has enriched a few, while many healthcare centers across the country are on the brink of financial collapse due to a lack of resources. The findings underscore the strain on Colombia’s healthcare infrastructure.
In late 2024, then-Superintendent of Health, Luis Carlos Leal, alerted President Gustavo Petro about the way health system resources were allegedly being diverted through irregular handling of EPS Coosalud and other EPS intervened by the Superintendency. The official also indicated that the diversions could be occurring through various IPS.
President Petro initially responded only to the allegations concerning the EPS, remaining silent regarding the concerns about the IPS. Shortly thereafter, Superintendent Leal was asked to resign, and his investigation, which had just begun, was suspended. The timing of the resignation has raised questions about potential interference.
Two sources within the Presidential Office confirmed to La W that Leal’s departure was prompted by concerns from an individual close to the president regarding the scope of the findings related to the IPS. To avoid a major scandal, that individual allegedly created a negative atmosphere around the superintendent and convinced the president that his continued employment was inadvisable.
La W followed up on the issues raised by the former superintendent and discovered that, beyond the misuse of resources by Coosalud and other EPS, a particular group of IPS had benefited from exaggerated payments manipulated or ordered by Mario Urán, a well-known lobbyist in the healthcare sector.
The complete list of IPS that benefited from these payments, spanning the country, is as follows:
Relación de las comunicaciones de centros asistenciales públicos a la Superintendencia de Salud solicitando ayuda para el pago de la deuda de Coosalud (2023-2024)
- Bienestar IPS
- Avidanti S.A.S.
- Eve Distribuciones S.A.S.
- Organización Clínica General del Norte
- Centro de Cirugía Ambulatoria CECAM IPS.
- Angiografía de Colombia
- Diacor Soacha
- Oncólogos de Occidente
- Unión de Cirujanos
- Centro de Cancerología de Boyacá
- Sociedad de Radio Oncología Boyacá
- Clínica Chía
- Clínica Avidanti Armenia
- Helpharma
- Ronelly S.A.S.
- Clínica Blas de Leso
- Inverclínicas
- Sociedad San José de Torices
These private companies benefited significantly while EPS Coosalud made minimal payments to public hospitals, simultaneously settling almost all of its debts to these IPS and even receiving advance payments. This allowed them to maintain a strong financial position in contrast to other public and private healthcare centers.
The investigation revealed that, while Coosalud made minimal payments to hospitals, it was simultaneously settling debts and providing advances to these 18 IPS, facilitated by Mario Urán. Ultimately, the funds ended up with a company based in Spain: Venum Investments 2020 SL.
Venum Investments is a shell company incorporated in Spain on July 23, 2020, with a capital of 3,000 euros (approximately 12 million pesos at that time). The company was registered by Vistra Administration Services, a subsidiary of Vistra, a firm involved in the Panama Papers scandal.
Vistra only handled the creation and registration of Venum, as the company’s ownership changed hands in January 2021, according to the Spanish commercial registry. The company is now solely owned by Namose S.A, a shell company incorporated in Uruguay.
La W determined that Namose is not a Colombian company, but another shell company. Its president, Federico Ponce de León, held the position from February 2020 to December 2023 and simultaneously served as president of at least 12 other companies. Experts in money laundering and tax evasion suggest this structure is typical for obscuring the flow of funds.
Venum Investments is located on Paseo de Recoletos in Madrid, opposite Plaza Colón. A visit to the address revealed that no one at the reception had heard of Venum. After checking the company register, they found no listing for Venum. A security guard suggested checking with Apex, which handles administrative matters for many companies. Apex confirmed that Venum is domiciled there but does not operate from the office, and that its operations are based in Colombia.
When asked why Colombian healthcare funds were being managed in Spain, the response was simply, “Why not?”
The investigation revealed a growing concentration of investments in the Coffee Region of Colombia, interest in acquiring IPS related to the former health system for teachers, and the reappearance of former medical centers that belonged to the Caprecom network. Furthermore, Venum made its largest investments in 2022, shortly after Gustavo Petro was elected president.
During that period, Clínica Chía, Organización Clínica General del Norte, and the leading oncology network in western Colombia, Oncólogos de Occidente, joined the group. These two latter companies were previously linked to temporary unions that formed the old health care network for teachers contracted by Fiduprevisora.
The investigation also revealed that Jhon Mauricio Marín, former president of Fiduprevisora and under investigation for corruption in the Ferrocarriles Social Security Fund, may be involved, allegedly orchestrating the change in the health model for teachers. Fiduprevisora went from having 10 major contractors to over 2,000 healthcare providers with a budget of 12 trillion pesos, raising concerns about auditability.
Marín and Daniela Andrade allegedly reached an agreement with former Fomag providers to receive a 7% commission – 3.5% for Marín and 3.5% for Ibáñez – in exchange for facilitating a 1.6 trillion peso payment. The funds were allegedly diverted to offshore accounts through Patria Investments.
Sources within the network of IPS linked to Venum Investments indicate that Marín and Sarabia, along with politicians from the Partido de La U, are profiting from the dividends of these IPS. Marín allegedly built a large mansion outside Armenia in the last two years.
La W contacted Minister of Foreign Affairs Laura Sarabia for comment. She stated that she did not deliver the folder to President Petro that led to Leal’s resignation and that the former superintendent knows the reasons for the president’s decision. Sarabia also stated that she did not know Daniela Andrade when she was appointed to the vice presidency of Fiduprevisora and that her close relationship is with Augusto Rodríguez,
