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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]
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 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 ...
As of June 2019, CDDFT has three ongoing private finance initiative (PFI) contracts, which were used to build University Hospital of North Durham (UHND), Chester le Street Community Hospital (CLS), and Bishop Auckland Hospital (BAH). They were taken out in March 1998, May 2002, and May 1999 and borrowed £92.6 million, £13.2 million, and £49. ...
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.
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 ]
In 2012 the trust's bid for NHS Foundation Trust status was escalated for Department of Health scrutiny, after a series of issues. [1] The trust was the lead employer for junior doctors in the North West of England, holding contracts for around 5,500 doctors in training.
The hospital was procured under a Private Finance Initiative ('PFI') contract, to replace outdated facilitates at the Pierremont Unit and the Beaumont Ward at Darlington Memorial Hospital and at the Gables Unit in Sedgefield, in 2002. [1]