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Sectors

 PFI in hospitals (uploaded 13/04/05)

HEALTHCARE

Name of Project:	Coventry New Hospital Project
Name of Contractor:	Skanska
Name of Client:	Warwickshire NHS Trust, University Hospitals Coventry
Partners to contractor:	Innisfree
Value of contract:	£334 million
Duration of contract:	35 years

Skanska Innisfree is undertaking the design, build and fund contract on a 1,212-bed acute hospital in Coventry, with Skanska playing both a construction and equity investor role. The project is the first PFI scheme to include a Retention of Employment model and consolidates the facilities of the University Hospitals Coventry and Warwickshire NHS Trust into a single state-of-the-art teaching hospital at Walsgrave.

Judges described the project as an "heroic deal", a true example of what can be achieved when the right elements of the public and private sectors combine.

Awards and success factors:

• The Best Partnership Award at the PublicPrivateFinance Awards 2003
• Health Project Above £45 million Award at the PublicPrivateFinance Awards 2003
• Financial closure achieved in a record breaking 12 months

Contact details:
Skanska UK Communications
Tanya Barnes, Communication Manager
skanska@skanska.co.uk
Tel: 01923 423 905