Over the last two years, significant progress has been made in delivering the Health Campus vision and objectives.
The most important of these is the appointment of a private sector partner to work with the council and WHHT.
June 2011 the council, in conjunction with WHHT, issued an OJEU notice to procure a Private Sector Partner (PSP) for the Health Campus
September 2012 Kier Project Investment Ltd, a wholly owned subsidiary of Kier Group Plc was selected as preferred bidder. Although they had presented an outline masterplan as part of their submission, this will be reviewed and updated over the next few months
December 2012 approval given to proceed with establishing a Local Asset Backed Vehicle (LABV) between the council and Kier. The LABV will be a business partner to enable West Hertfordshire Hospitals NHS Trust to offer non acute related facilities and services and wider support for its estate redevelopment.
A Local Asset Backed Vehicle (LABV) is a joint venture equity partnership between public sector bodies such as the local authority and the Hospital) and a private sector investment partner.
The public sector partners contribute land and the investment partner contributes capacity to deliver, skills, experience and funds to develop the asset. Any profits generated through the LABV are shared 50:50.
This is an indicative timetable. With a project of the complexity and timeframe of the Health Campus, we would expect the programme to be reviewed and update regularly.
The NHS Hospital Trust are also working up their plans for the new hospital complex and expansion.