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Darent Valley Hospital: The Pfi Contract in Action
by Great Britain
Binding: Hardcover, 59 pages
Publisher: Stationery Office Books (TSO)
Weight: 75
Dimension: H: 0.24 x L: 11.57 x W: 7.8 inches
ISBN 10: 0102932190
ISBN 13: 9780102932195
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Book Description:
In 1997, the Dartford & Gravesham NHS Trust awarded the first NHS private finance initiative (PFI) contract for a new hospital at Darent Valley, to a company now known as The Hospital Company (Dartford) Limited. This NAO report examines the value for money the Trust is receiving now that the PFI hospital has been in operation for three years. Findings include that the new hospital has been delivered to time and cost in accordance with the PFI contract. The Trust received a reduction in the overall contract price through a refinancing deal, with THC Dartford shareholders receiving much quicker and larger profits than had been projected when the contract was awarded. However, the refinancing deal has brought the Trust new risks as well as benefits, and this highlights the need for authorities to fully assess risks involved before agreeing to a refinancing deal, including the significant senior management effort required to manage a PFI contract in the early years.


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