Summit healthcare

This is the largest contract so far that uses the new NHS standard form project agreement. It involves a hospital’s refurbishment and part new build, the construction of two new ambulatory core centres, and facilities maintenance over the life of the contract.`Summit, advised by Jan Sanders at Ashursts, consists of McAlpine Healthcare, Building & Property (now Interservefm) and Bank of Scotland. Siemens Healthcare Services was also party to the deal and was advised by Nabarro Nathanson.`The deal was financed by a £71m bond issue arranged by the Royal Bank of Scotland, a £70m loan from the European Investment Bank (EIB) and £19m of loan stock and equity from Summit’s shareholders. The EIB loan is index linked and it is the first time it has provided a facility of this nature.