Bad information ruins lives. Whats more, PFI payments have been indexed higher with each successive year regardless of a hospitals revenue. To look at it another way, a quick calculation reveals that the outstanding PFI payments would cover the pay for all the nurses, full-time consultants and GPs for 10 years. Rodrigo holds a property degree from Lincoln University and has over 12 years of experience, with the last five years specialising in the management of syndicated properties across New Zealand. (712) 4S8-2001. Other regulatory action awaits, with ongoing. ALDWYCH CONSULTING LTD. BN25, ENG. Anthony's other directorships include Arvida Group Limited. The N&N is about 3pc of its portfolio. [4] In 2004, the Association of Chartered Certified Accountants assessed the actual costs at 1.16 billion, or around five times the initial cost of 229 million. A quick search on Google will tell you who the directors and shareholders of the company, Octagon Healthcare Group, are. Listed on 2023-02-23. Nick works with both the Finance and Property teams on a wide variety of analytical tasks, including budgeting / forecasting and valuations, as well as assisting with the execution of projects and transactions. The chief executive and founder of Innisfree, David Metter, appeared in the Sunday Times rich list in 2013 with an estimated worth of 80m, made from investments in a number of PFI projects. Nick is a graduate of the University of Otago where he completed his Bachelor of Commerce majoring in Accounting, and has since gained his CPA Australia designation. It is Rented to the NHS by a private company called PFI Octagon at a cost of over 50 million a year until 2037.Guess who two of the Company Directors are = Tony and Cherie Blair !. You deserve better. It hopes to pay Octagon off by 2037 the earliest opportunity it has to end the contract. 2001: The new Norfolk and Norwich Hospital officially opens ahead of schedule and on budget. But there is another way. Many PFI contracts came with strings attached, facilities maintenance often subcontracted on a long-term basis as part of the deal. Tom Bristow, a journalist with the Eastern Daily Press who has written stories critical of the results of the PFI deal, also wrote earlier this year about how the claim that the Blairs are directors of Octagon is false. The Blairite Third Way would somehow square the circle by delivering new schools, hospitals, roads, railways and prisons without the debt or inefficiency of the public sector. Norwich and Norfolk University Hospitals Foundation Trust pays Octagon for use of the hospital and some maintenance fees. The N&N investment is small in its portfolio but its latest report states Octagon 'continues to perform well financially'. Prior to joining PFI, she has worked in roles starting from PwC through to various commercial sector roles. inaccuracy or intrusion, then please The process is simple and we do most of the work. Edward Leigh, chairman of the committee, describes the deal as the 'unacceptable face of capitalism'. Editors' Code of Practice. Sure enough, there is some evidence of the tide turning. He said that, in his opinion, 'every penny of profit that leaves our NHS to go to the shareholders of companies like Octagon could instead be used on patient care'. Octagon has paid almost 26m in dividends to its three shareholders since 2009; The profits made by Octagon from the hospital are labelled a 'disgrace' by one former health minister; Octagon was paid 42.5m last year by the N&N up from 29m in 2010, as the busier the hospital gets, the more money Octagon is paid; One Norwich MP describes the PFI as 'the worst credit card deal on the comparison site'; Norman Lamb, North Norfolk MP. Ewan is responsible for leading the team that manages PFI's property portfolio. As Alan Milburn the former Labour Health Secretary described by Private Eye as an almost maniacal convert to PFI put it: Its PFI or bust.. [7], A 4.5m radiotherapy cancer treatment unit, the Winterton Unit, at the Norfolk and Norwich University Hospital, was opened by the Duke of Gloucester in May 2014. 'This does limit the opportunities for us to find the savings we need to reduce our financial losses,' a hospital spokesperson said. 2004: Association of Chartered Certified Accountants estimates total cost to NHS of N&N at more than 1 billion, around five times the initial cost of building it. The Norfolk and Norwich was one of the first hospitals to sign PFI contracts, only to see Octagon refinance the project, increasing its borrowing from 200 million to 306 million. The Norfolk and Norwich University Hospital. Gen provides day-to-day administration and general support for the wider office. Emma works with all parts of the company and provides support to the Head of Sustainability and Operations in a varied role dealing with risk and compliance, health, safety and wellbeing, governance support, and sustainability. Nicked from a FB Friend, he wrote, before sharing that same false information. Tony Blair announced the building of the new Norfolk & Norwich Hospital on 11/1/1998 from a press conference in Tokyo - they started work the very next day !!! . Associate Director of Estates new Lewisham and Greenwich NHS Trust 3.7 London SE13 But before you get angry about something youve seen on Facebook, before you share or comment, please take a moment and check it out from a verified news site. Director of Thomson Reuters from 2012 until 2020. Dr. William Thornton, the first architect of the U.S. Capitol, designed the house and gave the growing federal city a grand home to help build Washington's reputation. Sir Howard Davies, chairman of the Royal Bank of Scotland (RBS), recently made an astonishing admission on BBC1s Question Time when he stated that private finance initiatives (PFI) had been a fraud on the people. Tom is a graduate of Victoria University of Wellington where he completed a Bachelor of Commerce majoring in Finance and Philosophy. The activities will include leading and undertaking PFI handback support, to include: Review and interpretation of PFI contract handback drafting. North Norfolk MP and former health minister Norman Lamb said the profits made by Octagon were a 'disgrace'. The majority shareholder in Innisfree is Jersey-based Coutts & Co, which in turn is part of the RBS group. Do Rishi Sunaks claims about hospital discharge funding stack up? For the purposes of that scheme, weve rated this claim as partly false Our verdict The hospital was built using a PFI. It seemed too good to be true yet those who dared to question the orthodoxy du jour were swatted away. As a subscriber, you are shown 80% less display advertising when reading our articles. Do Rishi Sunaks claims about hospital discharge funding stack up? Campaigners argue that with such an unedifying track record, major corporate and financial interests should not be entrusted with hospitals and schools. Registered in England & Wales | 01676637 |. No wonder! c/o B2S Marketing Av. There are currently over 700 PFI contracts and the bulk will start to expire from 2025. Completed in 1801, it was a winter residence for an eminent Virginian planter, Colonel John Tayloe III, and his family. Angela is an experienced director and executive in property investment and commercial developments. Registered in England & Wales | 01676637 |. She is a graduate of Auckland University where she completed a Property Degree and Diploma of Business (Finance). The consortium which financed NNUH is called Octagon Healthcare. Octagon were required to design, construct, operate and finance Norfolk and Norwich University Hospital and to provide facilities management services. Of course, PFI was not always a toxic brand. As one comes out of Whitechapel Tube station, the new Royal London hospital certainly looks impressive. It is 'Rented' to the NHS by a private company called PFI Octagon at a cost of over 50m a year until 2037.. Across the NHS, PFI repayments have contributed to hospital mergers, closures and downgrades. District 2 (North Central): Mark Tjelmeland, It is paying millions annually to the Octagon company and is in hock to it for the next 39 years. The Octagon Center for the Arts is a non-profit community art center in the heart of downtown Ames, Iowa. Greg is also director of Reidy & Co Limited. 'This is what it was all about at the beginning,' he said. The proposed variation to the PFI contract . Estimates as far back as 2004 predicted taxpayers, through the N&N, will pay Octagon more than 1 billion nearly five times the 229m cost of building and opening the hospital. Prior to joining PFI, she held previous roles in customer service and reception. Intriguingly, PFI hospitals have been designed with significant numbers of individual rooms as opposed to conventional wards. 1158683) and a non-profit company (no. He said he did not get a glimpse of the PFI deal in the late 1990s before the hospital was built. The consortium which financed NNUH is called Octagon Healthcare. Start your Independent Premium subscription today. Golf Clients . Join to apply for the Director - PFI Advisory role at Aldwych Consulting Ltd You may also apply directly on company website . Requires an industry partner. It is to be pay cuts, ultra flexibility, and out of hours unpaid overtime, plus sending patients home early, plus compulsory redundancies. A spokesperson for People vs Barts Health PFI campaign group informs me that nationalisation of the Special Purpose Vehicle would be necessary or perhaps even outright termination of the contracts. The hospital is currently in the worst financial state in its history. SPIN is a good thing, she does not say from government, just mixed messaging. A report to the N&N's board warns it may struggle to find savings. MPs on the public accounts committee say Octagon used a refinancing deal of the Norfolk and Norwich PFI (Private Finance Initiative) hospital project to boost the investors return by a gigantic 153 million, and to increase the liability of the hospital trust to 257 million if it needed to terminate the contract early. NNUH was the first new NHS teaching hospital built in England for more than 30 years and the hospital trust is a partner with the University of East Anglia in the delivery of courses. There are many precedents for renationalising privatised services when it is in the public interest. If your agency is in need of additional manpower and you cannot handle it in-house (current employees, overtime, or temp/term appointments) and contractors are too expensive or take too long to setup, then PFI may be a great alternative. PFI, it could be said, underlines that austerity is a political choice rather than a necessity. Dr Julia Patterson, a spokeswoman for EveryDoctor, which campaigns to improve doctors' working conditions, said the trust's message meant "optimal care is unavailable now for some NHS patients [because] 'the least unsafe option' is the best we can offer. Mohammed bin Salman, Crown Prince and Chairman of the Neom Company Board of Directors this week . Jodie previously held roles in valuation, commercial and shopping centre management. That 20m would pay the wages of 800 nurses, or 200 GPs. Previously, Angela held a number of senior positions over a 10-year period with Foodstuffs Auckland and Foodstuffs North Island, most recently being General Manager Property Development for Foodstuffs North Island. As reported in Saturday's EDP, it has had to put expansion plans to its A&E on hold because of a lack of cash. After all, while there have been exceptional cases in which hospitals have bought out PFI contracts this is not feasible for larger PFI deals, such as that involving Barts Health, without the backing of government. The hospital was built using a PFI. An active participant in setting PFI's overall financial strategy, the finance director will also lead all financial administration, budgeting, financial reporting, fiscal grant management and financial policies and controls maintenance. A Facebook post shared thousands of times has claimed that Tony and Cherie Blair are board members of PFI Octagon, a group that funded a hospital in Norfolk, announced in 1998 by Mr Blair. We have contacted Octagon's shareholder companies but have not had a response. Karen O'Donnell Client Director-PFI & Infrastructure Team. She is a graduate of the University of Waikato where she completed her Bachelor of Management Studies with Honours. The Norfolk and Norwich University Hospital is in the worst financial state in its history and yet continues to face a huge bill to the firm which built it. Screens provide live information about how many cases are being handled and the current status of the A&E department. 'Otherwise you are stuck with it for years and years.' [21], In March 2014 the N&N, Norfolk's biggest hospital, marked two years of being MRSA free. PFI Pellet Wire; Industry Data; Research Partners; Additional Resources; Career Center; Events. Octagon is simply fulfilling a contract which was agreed to by the hospital, but concerns have been raised about how much money it is getting. Meanwhile, Innisfree chief executive David Metter takes home millions in pay and dividends each year. Collectively our team has over 120 years of property experience, andthe key individuals have extensive experience in the ownership, management and development of industrial property. But when the financial crisis was followed by the diktats of austerity, PFI began to unravel. I was against it in principle,' he said. She is a graduate of Auckland University of Technology where she completed her Bachelor of Laws Degree. He was formerly head of property for AMP Capital Investors (New Zealand) Limited and is a Chartered Fellow of the New Zealand Institute of Directors, a Fellow of the New Zealand Institute of Valuers, a Fellow of the Financial Services Institute of Australasia and a Life member of the Property Institute of New Zealand. One is making cuts of 22m, could run out of cash by November and will be 32m in the red this year. If you have a complaint about the editorial content which relates to contact IPSO here, 2001-2023. Leo Benjamin, 17636 Birch Ave., Whiting, IA 51063. Ive been getting some weird emails recently. She previously served as a director of Providence Health from 2019-2021, Noora Health from 2018-2021, YWCA of Nashville and Middle Tennessee from 2016-2022, and CARE from 2001-2013. . [15], Between 2002 and 2006 the hospital saw 65 patients die from Methicillin-resistant Staphylococcus aureus (MRSA), making it one of the ten worst hospitals in the United Kingdom in terms of deaths from the superbug. What you will be doing. Copyright 2010-2023 Full Fact. The hospital says the PFI contract means its buildings are maintained to a high standard for the lifetime of the contract and they are also refurbished regularly. Managing Director, Octagon Financial Services Talent + Properties Simone Errey Managing Director Marketing Australia James Logan Head of Client Services Marketing UK Marianne Rotole Executive Vice President, Client Services Marketing North America Ross Chouler Head of U.S. Under the PFI, a private sector consortium builds and maintains the building and then leases it back to the public sector. Photo: Jonathan Brady/PA Wire, The Norfolk and Norwich University Hospital. You deserve better. One man even threatened to kill the Blairs because of this untrue post. The management is saying: There is only one way that this jobs massacre can be lessened. There have been 47 refinancings of hospital, school and other PFI projects up to the end of the last financial year. Prior to joining, Ewan spent 13 years working in various roles in property, asset and fund management in the United Kingdom, the last nine in Edinburgh where he worked managing and acquiring a diverse range of property for a large property trust. She previously held a variety of roles across property finance, risk, compliance and governance in the banking sector. stories critical of the results of the PFI deal, The WHO is not working on vaccines to create permanent sterility, Kate Shemirani makes several false claims about childhood vaccines, Mouth cancer rates not increased by Covid-19 test swabs. If we're gonna do that though, there's a risk of . Corporate and commercial: Birmingham Shop Similar at AMAZON. PFI is an NZX listed property vehicle focused on the industrial sector. PFI Board of Directors Correspondence to tire PFI directors' addresses is always welcome. Focused on multidisciplinary, multi-organizational teams. Ultimately, though, the fiat of government legislation is sufficient to overhaul PFI. search. Of course, it can not police every post, it is up to us the user to take care of what we believe. Michael joined PFI as a Property Manager in 2021, and is a graduate of the University of Auckland, holding a Bachelor of Property. The policy was first implemented under John Majors government and continued by Tony Blairs government. In July 2000 approval was given to extend the Norfolk and Norwich University Hospital with a second phase that included an additional 144 beds and took the project cost to 229 million. It is a socialist paper and gives particular coverage to Trades Union and International news. Those ads you do see are predominantly from local businesses promoting local services. The total bill for NHS PFI hospitals is ultimately projected to rise above 79bn, way in excess of original build costs of 11.4bn. das Americas, 3.434 - Gr. Total Quantity or Scope. Today's report draws on a survey of public authorities managing PFI contracts, 2 who are largely local bodies such as NHS trusts and local authorities. This material is for informational and educational purposes only and should not be construed as investment advice or an offer or solicitation in respect of any products or services to any persons who are prohibited from receiving such information under the laws applicable to their place of . About Octagon. The Norfolk and Norwich University Hospital was built under the Private Finance Initiative (PFI), and opened in late 2001: it has 1237 acute beds and offers a wide range of NHS acute health services plus private patient facilities. It looms over the ruins of the crumbling Victorian hospital made famous in David Lynchs film The Elephant Man. contact the editor here. Healthcare associated infections and black alerts, Norwich Evening News, p6, 15 September 1998, Norfolk and Norwich University Hospitals NHS Foundation Trust, Association of Chartered Certified Accountants, Commission for Architecture and the Built Environment, Methicillin-resistant Staphylococcus aureus, "Norfolk and Norwich University Hospital", "Private Finance Initiative Norfolk and Norwich University Hospital", "Better Public Building Award finalists, 2002", "A&E department redesign 'cuts aggression by half', "Photo gallery: Royal visitor opens new cancer treatment centre at N&N", "David Metter: Skiing in the Alps, the King of the PFIs who owns 28 hospitals and a motorway", Superbugs MRSA and Clostridium difficile killing record numbers of patients, Hospital put on alert as ambulances stack up, Norfolk and Norwich Hospital told to improve elderly patients nutrition, "Care Quality Commission, Dignity and nutrition for older people Review of compliance", "Graphic: Praise after three Norfolk hospitals pass two years as MRSA free", "Doctors told to use 'least unsafe' option in Norwich hospital", "Norfolk and Norwich University Hospitals NHS Foundation Trust Keys to new hospital handed over", "Norfolk and Norwich University Hospitals NHS Foundation Trust Prime Minister visits NNUH", "BBC NEWS - UK - England - Loyd Grossman goes on the wards", "Norfolk and Norwich University Hospitals NHS Foundation Trust Harry Potter star's hygiene message", "BBC NEWS - UK - England - Norfolk - New cancer centre opened", "BBC NEWS - UK - England - Norfolk - Queen to open new hospital", "Norfolk and Norwich University Hospitals NHS Foundation Trust Royal College Praises Emergency Assessment Unit", "Norfolk and Norwich University Hospitals NHS Foundation Trust Health minister to visit NNUH", "Norfolk and Norwich University Hospitals NHS Foundation Trust Official opening of the Norwich Radiology Academy", "Norfolk and Norwich University Hospitals NHS Foundation Trust Esther Rantzen welcomes new care plan for terminally ill", "Norfolk and Norwich University Hospitals NHS Foundation Trust Hospital staff star in TV series Kingdom", "Norfolk and Norwich University Hospitals NHS Foundation Trust Bishop of Thetford to visit renal patients at NNUH", Norfolk and Norwich University Hospital NHS Foundation, Royal London Hospital for Integrated Medicine, National Hospital for Neurology and Neurosurgery, University College at Westmoreland Street, Walton Centre for Neurology & Neurosurgery, Royal National Hospital for Rheumatic Diseases, Robert Jones and Agnes Hunt Orthopaedic Hospital, School of Art History and World Art Studies, https://en.wikipedia.org/w/index.php?title=Norfolk_and_Norwich_University_Hospital&oldid=1138386975, Articles with dead external links from August 2021, Short description is different from Wikidata, Creative Commons Attribution-ShareAlike License 3.0, Neonatal Intensive Care, Foetal Medicine, Orthopaedics, Cancer, Plastic Surgery, Rheumatology, Ophthalmology, Paediatric Medicine and Surgery, September 1998, Secretary of State for Health, December 2002, food critic and TV presenter. Nirali is currently on maternity leave until September 2023. Jesus Soriano, Program Director, [email protected]; (703) 292-7795 Katie Bratlie, Program Director, [email protected]; (703) 292-2638 Samir Iqbal, Program Director, [email protected]; (703) 292-7035 For questions, please refer to the cognizant PFI Program Directors listed above. My comment telling them theyve got it wrong, will be lost amid the 500 comments and anyway it is too late. PFI companies are already arming themselves for the prospect of a Corbyn government, as has been recently reported. Samantha joined PFI as Systems & Reporting Manager in 2022. These initial tremors might be the canary in the coal mine. St. Louis, MO 63108 Phone: (800) 500-8130 or (314) 371-6000, ext. The new Neom city in Saudi Arabia has announced a floating industrial district that will house a hyperscale data center. Amy Keller, Director of JOOI 4494 Lindell Blvd. The London Underground public-private partnership saw the bankruptcy of private company Metronet, with the Government forced to step in and bring the upgrade back into public hands. 'The whole PFI programme was massively ill-judged,' he said. Prior to that, Rodrigo was involved in the management of a nationwide government property portfolio and worked in commercial management within the aerospace industry in Germany. A Facebook post shared thousands of times has claimed that Tony and Cherie Blair are board members of PFI Octagon, a group that funded a hospital in Norfolk, announced in 1998 by Mr Blair. [12] In 2007, the Audit Commission's "Review of the NHS financial year 2006/07" reported that the trust was delivering the best financial management of any NHS Trust in the country[13], In 2006, the Public Accounts Committee released report into the PFI refinancing conducted by the private Octagon Healthcare consortium, of which Innisfree Ltd owns a quarter, involved in building the Norfolk and Norwich University Hospital of "lining investors' pockets" and putting the trust at increased financial risk. In 1997 it appeared to be New Labours magical solution to chronic underinvestment in public services in the wake of Thatcherism. Banking leviathan HSBC also has a stake in PFI hospitals. Sarah works with all parts of the company on a variety of matters including sustainability, risk management, compliance, and company secretarial. As researcher and campaigner Joel Benjamin of The People vs PFI (full declaration: I have made Joels acquaintance in recent years) has written: Politicians did not simply wake up one morning and declare that banks should finance and own schools and hospitals, off-balance-sheet, via offshore tax havens, they were lobbied by City interests, prior to the implementation of PFI.. The N&N owes Octagon just under 200m which it is currently paying off at a rate of around 3m a year. Neom is a project aiming to construct a huge new smart city on the Red Sea coast in the northwestern Saudi province of Tabuk. Prior to joining PFI, Kieran has held several Senior Facilities Manager roles in the commercial, industrial and retail industry. Photo: PA Wire. [17], The hospital was placed on black alert in November 2007 when it ran out of beds for a time. The trust has announced they it may have to lose 450 jobs this year. In fact, this PFI consists of two schemes. Bhd. But anyone who reads our article, can see it is based on facts which do not support the misinformation being spread on Facebook. When hospitals are so full that there are no intensive care beds, no hospital beds at all, and essential operations are being cancelled because there's simply no one to do the surgery, then every option carries undue risk".[23]. Mr Gibson added the multi-million pound dividends to Octagon's three shareholders were not a surprise. Kam is a graduate of the University of the South Pacific and completed a Bachelor of Arts majoring in Accounting and Financial Management, Management and Public Administration and is an Associate Chartered Accountant. The Blairs are not and have never been directors of Octagon Healthcare, the company responsible for the PFI. The entire London Chest hospital has been sold off and will be replaced with a housing development. As a result, only specific contractors are allowed to change or fix certain equipment or fittings, such as a plug socket or a light bulb. The hospital was reportedly the biggest built using a PFI contract at the time. Norwich South MP Clive Lewis. Haringey Councils public-private partnership with construction and property giant Lendlease appears on the brink of collapse after Labours National Executive Committee intervened. [6], It is one of a small number of Accident and Emergency departments to benefit from Pearson Lloyd's redesign - 'A Better A&E' - which reduced aggression against hospital staff by 50 per cent. Total UK PFI debt for the taxpayer is over 300bn for infrastructure projects with a value of 54.7bn. Jesus Soriano, Program Director, [email protected], (703) 292-7795 Katie Bratlie, Program Director, [email protected], (703) 292-2638 Samir Iqbal, Program Director, [email protected], (703) 292-7529 Sincerely, Erwin Gianchandani Assistant Director Directorate for Technology, Innovation, and Partnerships REFERENCES 1 https://www.nature.com/articles/d41586-021-03045-w Partnerships for Innovation (PFI) PFI-TT grants are up to $250,000 over 18-24 months. Please click on the names below to learn more about the PFI team. It is one of the largest hospitals in the United Kingdom in terms of in-patient capacity. Weightmans LLP > The Legal 500 Rankings Dispute resolution > Professional discipline Tier 1 Further to its June 2022 merger with RadcliffesLeBrasseur LLP, Weightmans LLP's large All 100%. Guess who two of the Company Directors are = Tony and Cherie Blair ! That this is completely unacceptable and has to be dealt with is obvious. 15 Galway Street
Auckland, 1010. Yet there is also an aesthetic and functional brutalism with labyrinthine corridors and sunless, windowless rooms. Carolyn previously served on the boards of Tuatahi First Fibre, Metlifecare and Datacom. She is currently the Chair of Halberg Foundation and a director of WEL Networks, Green Cross Health, and Vulcan Steel, and she is also an investment committee member at Oriens Capital. Genevieve (Gen) joined PFI as Office Administrator in 2022. Further develop the PFI consultancy offering, including the various elements of . The project was the first large PFI hospital scheme in the NHS. Shalini works closely with the rest of the finance team, with a particular focus on Accounts Payable. Photo: Stefan Rousseau/PA Wire, Chief executive and founder of Innisfree David Metter which is the joint biggest shareholder in Octagon. In January 2019, Craig was appointed asChief Finance and Operating Officer. A PFI panel was set up by Chancellor Ken Clarke as early as 1993. Professor Pollock tells me that contracts have to be made transparent in order to be scrutinised. The hospital was built using a PFI. 02 Barra da Tijuca Rio de Janeiro, RJ CEP 22640-102 Brazil +55 (21) 3431-3399; Get Directions . Poonam Muttreja. The hospital under construction at Colney in 2001. Quote Tweet. And that right was only obtained by taking on huge extra potential liabilities. Browse and apply for the Consulting jobs at Arcadis Vercity also employs talented senior finance experts, comprising finance directors, operations managers, management accountants and financial controllers. because Tony and Cherie Blair are not directors of Octagon Healthcare. For renationalising privatised services when it ran out of cash by November and be. Center for the wider office is what it was a who are the directors of pfi octagon residence for eminent... 'S Board warns it may struggle to find the savings we need to reduce our financial losses, ' said. 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