Health and care property company, Prime, has completed a deal to purchase full shares in joint venture company, Interserve Prime.
The company will be known as Prime Partnering Solutions. Prime says the acquisition ‘will have no impact on ongoing projects, other than to offer increased efficiency and the convenience of a single point of contact to clients and suppliers’. It added: “Interserve remains a key supply chain partner to Prime, and the two companies continue to enjoy a good working relationship.”
Prime works across the health and care system, and says it has recently become ‘a leading partner’ for the acute sector, delivering projects through Strategic Estates Partnerships (SEPs) for four years. SEPs are 50-50 joint venture companies operated between the public and private sector. The company says they ‘offer huge flexibility and reduced risk to both partners, enabling better outcomes in the delivery of services when the public sector partner needs them, without the obligation to use them’.
“SEPs can deliver a broad range of projects and services to public sector clients, from developing new clinical and commercial real estate, through to facilities management and consultancy services,” said Prime. “SEPs are quick and cost-effective to procure and allow for a range of commercial contract structures, either investing public or private capital solely, or blending both to create the best financial fit for the client.”
Prime CEO, Leighton Chumbley, said: “We believe there is further opportunity to enrich the health community and revolutionise how estates transformation is achieved at a local level. By utilising SEPs to support Sustainability and Transformation Plans, Trusts and their health partners could access capacity and capability to integrate health delivery and realise their clinical aspirations.”