![Skip to main content [Access key M]](/bbcap/images/shim.gif){kind=small}
03 Jul 2007
Balfour Beatty, the international engineering, construction, services and investment group, announces that its PPP healthcare vehicle, Consort Healthcare, reached financial close for the Mid Yorkshire Hospitals NHS Trust's Pinderfields and Pontefract Hospitals Development PPP Project on Thursday 28 June. The project has a capital value of approximately £311 million.
The 35-year concession is central to the reconfiguration of health services in the area. It will deliver a new acute inpatient hospital in Wakefield on the existing Pinderfields Hospital site and a new Diagnostic and Treatment Centre in Pontefract.
Balfour Beatty will invest some £15 million of equity in the project. Balfour Beatty Group companies will be responsible for all of the construction, building services and physical facilities management.
Commenting on the financial close of the project, Balfour Beatty Chief Executive, Ian Tyler, said:
"We are delighted to be in a position to deliver the largest PPP hospital development in Yorkshire. When complete, the project will enable the transformation of hospital services across Wakefield and Pontefract and the optimisation of services at Dewsbury District Hospital to achieve the Trust's ambitions of high-quality patient care. Balfour Beatty is bringing to the task many decades of experience in working as a key contractor in the healthcare sector and its expertise in planning, constructing and operating other large PPP hospitals."
Sir Hugh Sykes, Chairman of The Mid Yorkshire Hospitals NHS Trust, said:
"This is wonderful news for everyone and we are delighted that our new hospitals are now very much a reality. This development represents the single largest investment in healthcare in the Wakefield district since the NHS was set up in 1948.
"Our patients will be able to experience first-class care, in first-class facilities which have been carefully designed around the needs of patients, visitors, carers and staff and will be modern, welcoming and accessible for everyone."
The concession company, Consort Healthcare (Mid Yorkshire), is a joint venture between Balfour Beatty and the Royal Bank of Scotland. The construction work will be carried out by Balfour Beatty Construction and Haden Young (the building services arm of the Balfour Beatty Group). Facilities management for all estates and facilities services (including catering, cleaning, portering, security, linen and laundry) will be provided by Haden Building Management, another Balfour Beatty subsidiary, under an arrangement that could yield over £400 million of long-term service revenue – the largest healthcare services contract secured to date by the company.
It is expected that the new Pontefract Hospital will open in 2009 and that the new Pinderfields Hospital will open in 2010, although some facilities will be opened in advance of these dates.
Consort Healthcare is now the PPP concession company for nine major hospitals and has a committed equity investment of £123 million in the sector.
ENDS
Enquiries to:
Tim Sharp
Tel: 020 7216 6884
www.balfourbeatty.com
Notes to Editors
| - £90 million Durham Hospital | (opened 2001) |
| - £220 million Edinburgh Royal Infirmary | (opened 2003) |
| - £280 million University College London Hospital | (Phase 1 opened 2005) |
| - £116 million Royal Blackburn Hospital | (opened 2006) |
| - £553 million Birmingham New Hospitals | (under construction; due to open 2011) |
| - £120 million Salford Hospital | (preferred bidder) |
| - £60 million Tameside Hospital | (preferred bidder) |
| - £152 million Fife Hospital | (preferred bidder). |
