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Taywood leads way to £38m NHS deal

A CONSORTIUM headed by Taylor Woodrow has closed a deal on a privately- financed £38 million contract to rationalise South Buckinghamshire NHS Trust's estate. The scheme is only the third concession of its kind to reach a financial close.

Health minister Alan Milburn said: 'The hard work to free the log jam has paid off.'

Taywood and Innisfree Management will provide equity, with Dresdner Kleinwort Benson finan-cing the capital cost.

The project was the first of the old PFI proposals to reach a commercial close in October 1996.

But cash worries hit the job and hospital operator Healthcare Group and the scheme's original backer, the Bankers Trust, left the group, called United Healthcare.

The scheme comprises redeveloping hospitals at Amersham and High Wycombe. The buildings will transfer to United Healthcare, but the site will remain the property of the NHS.

Fifteen privately-financed hospital deals in England have been approved by the government.