SALE OF PARTNERSHIPS FOR HEALTH

21/12/2006 Partnerships UK (PUK) has sold its 50% shareholding in Partnerships for Health (PfH) to the Department of Health (DH). The total consideration received by PUK is £25.8m. PfH was a 50:50 joint venture between PUK and DH set up to deliver a material improvement in primary healthcare facilities and services particularly in deprived areas. The original objectives have now been achieved:

A new approach to delivering investment in primary and community has been put in place
42 LIFT companies are established around the country
£1bn of investment in new health centres has already been achieved
90 buildings are open
A new supplier market has been created to take forward future investment requirements

Today’s purchase by DH of PUK’s share of PfH reflects the fact that PfH has been a great success. Looking forward, it reflects the DH’s desire to develop PfH within the Department and to help deliver some of the wider policy objectives set out in the recent Health White Paper. From a PUK perspective the sale is consistent with its public sector mission to focus resources on the development of new markets and initiatives, and then look to recycle such resources and capital to emerging and alternative opportunities.

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