Search results
Results from the WOW.Com Content Network
Cumberland Infirmary, one of the first projects funded using the PFI. The private finance initiative (PFI) is a procurement method which uses private sector investment in order to deliver public sector infrastructure and/or services according to a specification defined by the public sector. [2]
1 Powers of NHS trusts to enter into agreements (1) The powers of a National Health Service trust include power to enter into externally financed development agreements. (2) For the purposes of this section, an agreement is an externally financed development agreement if it is certified as such in writing by the Secretary of State.
The trust took on formal legal responsibility for the operation of the NHS Nightingale Hospital London, a temporary hospital set up at ExCeL London to treat patients during the 2020 COVID-19 pandemic. [6] On 11 January 2021, the Trust opened the NHS COVID-19 Vaccination Centre, Newham at the ExCeL London site. [7]
Another controversy was the long term cost of the private finance initiative (pfi) deal to build the hospital: In 2019 it was revealed that University Hospitals Coventry and Warwickshire NHS Trust paid 12.5% of their income per year to the contractor, and that by the end of the contract, they would have spent an estimated £3.7 billion, almost ...
The Trust was the first to buy out a PFI contract, borrowing £114.2 million from Northumberland County Council in June 2014 in a deal which reduced its costs by £3.5 million per year. [ 16 ] It was named by the Health Service Journal as the best acute trust to work for in 2015.
The Trust has a substantial PFI scheme. The £265 million scheme which will run for 30 years covers new buildings, refurbishments, facilities, services, equipment and capital investment equipment costs and will run until March 2043. The partners to the scheme are Innisfree Ltd, Skanska, and Medirest. [2]
NHS Employers is an organisation which acts on behalf of NHS trusts in the National Health Service in England and Wales. It was formed in 2004, is part of the NHS Confederation , and negotiates contracts with healthcare staff on behalf of the government.
A new hospital was procured under a Private Finance Initiative contract which was awarded to a consortium of Balfour Beatty and the Royal Bank of Scotland in 1998. [6] It was built by Balfour Beatty with an initial cost of £87 million and opened in 2001. [7] Facilities management services were provided by Engie. [8]