The Midland Metropolitan Hosiptal
The Midland Metropolitan Hospital is now in the course of construction.
A £300m build will provide a new hospital in Smethwick, Birmingham. It is procured, financed, constructed and serviced using the PF2 model. It is the pilot for this development of PFI model following HM Treasury’s new requirements as to risk allocation and partial public ownership of the project company which delivers he serviced environment for the NHS.
I led the legal team which developed the NHS standard form contract (familiar to the market and which I helped write), worked with HM Treasury and the Department of Health to develop the specifics of the model and the equity ownership to meet policy requirements and enable swift adoption in the market. Our team then negotiated the transaction to financial close in 4 months and locked in a managed equipment service contract which was separately procured.