Papworth Hospital

Equitix investment: £18 million

Date of acquisition: January 2014 & March 2019

An Equitix–Skanska joint venture was selected as preferred bidder in January 2014 for the construction of a specialist cardiothoracic hospital on the Cambridge Biomedical Campus site in Papworth.

The project has since reached financial close and Equitix acquired the 50% stake held by Skanska in March 2019 following the completion of construction.

The hospital includes 300 inpatient single beds, seven operating theatres and five catheterisation labs across around 44,000m2. The concession runs for 30 years after construction.

The project has a total capital value of £150 million and Skanska will continue to provide hard facilities management services. There is significant scope for operational uplift including life-cycle, tax and Management Services Agreement savings.