LAWFUEL – The Legal Newswire – DLA Piper has advised three NHS Trusts in Peterborough on a private finance initiative (PFI) healthcare project that will include a new state-of-the art acute hospital, a care centre and a new mental health hospital for three health trusts in the region. The £446 m bond finance project finalised by Peterborough and Stamford Hospitals NHS Foundation Trust, Peterborough Primary Care Trust, Cambridgeshire and Peterborough Mental Health Partnership Trust and Progress Health gained government approval in June.
Construction for the 21 Century project will begin this month and will see a new 612-bed acute hospital built on the Edith Cavell Hospital site run by the Foundation Trust, a 102-bed mental health unit built for the Mental Health Partnership Trust and a integrated care centre with 34 specialist rehabilitation beds, a pharmacy, outpatient diagnostic and treatment centre, general rehabilitation services and children’s care centre, which will be run by Peterborough Primary Care Trust. Work on the project is expected to be complete in 2009.
DLA Piper advised the Trusts on all aspects of the funding and management. Nick Maltby, Finance & Projects partner, led the DLA Piper team which also comprised associate, Shahid Nazir, solicitor, Lido Fontana and Adam Rogowski from projects. Lawyers from other practices included Real Estate partner, Andrew Clarke, Employment partner, Kate Payne, Employment associate and Chris Baker.
Nick Maltby said “This is a huge project for the Trust as the largest healthcare scheme the City has ever undertaken. It will provide modern, state-of-the-art healthcare facilities for thousands of people in Greater Peterborough and we were delighted to work with the Trusts to ensure that the project reached financial closure.”
The project presented some unique challenges including the vires issues of a three trust deal. It is also the first Foundation Trust to close a project following the Department of Health review of acute schemes in mid June.
ENDS
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Helen Obi, Media Relations, DLA Piper, Tel: +44 (0)20 7796 6989 or email helen.obi@dlapiper.com
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