PFI
n Being more involved in the management of the lifecycle fund as expiry looms; Trusts need to know what they are inheriting before they inherit it.
n Understanding that where there are no handover provisions, or these fall short of the Trust’s requirements, any changes to the contract should be negotiated well in advance of contract expiry.
n Implementing contract provisions with particular focus around the correct application of the payment mechanism.
Not ‘the end of the issue’ However, reaching expiry should not be seen as the end of the issue, nor the start of a new chapter in asset ownership. If a re-procurement has taken place, there will inevitably have been some hard work in getting there. Trusts need to make sure they get what was bargained for, squeezing as much value as possible from the new contracts. If the Trusts are dealing with the new arrangements in house, it’s imperative that they are maximising their own performance and delivery, realising their ultimate goals and objectives.
It’s vital that Trusts ensure a seamless transition into the role of asset owner/ manager, and embrace the opportunities that this brings. These opportunities will help the NHS to shape and deliver the aspirations of a modern and fit-for- purpose estate that supports clinical outcomes for decades to come. Trusts will inherit assets better maintained and cared for than most of the rest of the NHS estate. While developed in the 90s, it’s now up to those Trusts to make sure that this estate fits the bill for the 21st century.
Jackie Heeds
Jackie Heeds has over 20 years’ experience in complex infrastructure and commercial transactions, gained in major international law firms, and procured through a range of public/ private partnerships, including PFI/PF2 and joint ventures. She works in various sectors, including health, regeneration, and transport. For a number of years she has been recognised as a leading individual in her field by Legal 500, also being described as ‘brilliant’, having great legal skill, and ‘superb ability to lead a multi-disciplinary team’, and being praised for her ability to deliver complex projects.
Paul Styler
Paul Styler is an NHS-trained accountant who has specialised in structured finance/PPP and the related commercial aspects of development for 20 years. He has worked in the finance side of the NHS (acute and commissioning), in the UK defence industry, and for ‘Big 4’ accountancy practices, as well as across built assets, networks, and services, under complex contractual structures. He has advised on numerous project financing and development schemes for public and private sector parties, with over 100 different PPP mandates. The outputs from several of these commissions now form part of national and international standardised documentation. He has also led Treasury and OGC-compliant aspects of public sector business case development, advised on the sale/disposal of PPP assets (secondary market transactions), carried out due diligence on investment and funding cases, sales, financial modelling, and on the revision and redevelopment of pre-existing contractual and statutory structures, to create improved financial and non-financial service outcomes for clients.
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October 2021 Health Estate Journal 75
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