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Northumbria Healthcare NHS Foundation Trust was the first to buy out a PFI contract, borrowing £114.2 million from Northumbria County Council in a deal which reduced its costs by £3.5 million per year. [134]
It said in 2017 that PFI companies had made pre-tax profits of £831m in the past six years which could have been spent on patient care. [2] In 2022 it pointed out that expenditure on staff, equipment and other capital projects can be cut by an NHS trust, but not their PFI payments. [ 3 ]
The hospital was procured under a Private Finance Initiative contract to replace the old Lymington Hospital in 2004. It was designed by Murphy Philipps Architects and constructed by Ryhurst [1] at a cost of £36 million. [2] The hospital was opened on 6 February 2007 by Princess Anne. [2]
The Norfolk and Norwich University Hospitals NHS Foundation Trust pays the private PFI Octagon consortium in the region of £41 million a year. [4] In 2004, the Association of Chartered Certified Accountants assessed the actual costs at £1.16 billion, or around five times the initial cost of £229 million. [4] Project team: Anshen & Allen ...
In 2014, the Trust planned to buy a new electronic patient record system and sent 14 members of staff to the USA to evaluate the competing systems from Cerner and Allscripts, the final two competing for the £38 million contract shortlisted from eight bidders. A contract was due to be signed in early 2015 with the system implemented in mid-2016.
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 hospital, which replaced the Royal Halifax Infirmary, was procured under a Private Finance Initiative contract in 1998. The new hospital was built by Bovis Lend Lease. [1] The cost of building the hospital, originally budgeted at £34.8 million in 1994, was £103 million by 2001. [2]
A new hospital was procured under a Private Finance Initiative ('PFI') contract in 2001. It was designed by Jonathan Bailey Associates and built by Bovis Lend Lease [4] at a cost of £54 million. [5] It was officially opened by Tony Blair, Prime Minister, in January 2004. [6]