Equitix Healthcare

While there is limited activity in the primary healthcare infrastructure market, Equitix has purchased a number of assets in the secondary market. Equitix Fund I and Equitix Fund II have invested in a number of high quality healthcare assets, helping to ensure an effective, diverse and sustainable portfolio made up of complementary projects.

Currently, the portfolio consists of the following:

Equitix Healthcare (Lancaster) & Equitix Healthcare (Surrey)

Equitix Healthcare (Lancaster) Ltd and Equitix Healthcare (Surrey) are two operational PFI contracts, purchased as a secondary market acquisition by Equitix Ltd in December 2007. The portfolio consists of three continuing care units, a resource centre and two Trusts offices in the Lancaster area, together with a residential care home providing inpatient learning facilities in Surrey. The project won a design commendation in 2000 for the sympathetic conversion of the two existing stone built barns at the Oaklands, Lancaster site. The work to refurbish and convert the buildings into modern office and support space won recognition for the design and construction teams approach and successful delivery of high quality accommodation. Hard FM Services are provided by Lorne Stewart.

Equitix Healthcare (Leeds)

Equitix Healthcare (Leeds) Ltd was acquired by Equitix Fund I in February 09. On acquisition the assets were restructured and refinanced with new debt provided by National Australia Bank. The project is a contract with Leeds Partnership NHS Foundation Trust with a contract running to 2028 with option to extend for a further 25 years. The PFI consists of 9 facilities, accommodation circa 240 beds. Construction was completed in 2003. Hard and Soft Services are being provided by Interserve across the sites.

Equitix Healthcare (Shropshire)

Equitix Healthcare (Shropshire) consists of six facilities allowing the re-provision of a variety of care facilities, community facilities and offices accommodation for the care teams. The project was acquired in June 09. Shaw Group delivers Hard and Soft services to the facilities. The concession with Shropshire CC is for construction plus 28 years, and the facilities have been operational since Sept 2006.

Equitix Healthcare (Kent)

Equitix Healthcare (Kent) consists of two purpose-built facilities providing care and rehabilitation for the elderly. Located in Margate and Tenterden, they each provide 60 en suite bedrooms, a day care centre for those with mental health needs and a base for local outpatients. The project was acquired in December 2009. The concession with Kent CC is for 28 years; the project having being operational since 2005. The Shaw Group will deliver FM solutions to the facilities.

Equitix Healthcare (Roehampton)

Queen Mary's Hospital, Roehampton is Equitix's first community based hospital investment. Queen Marys specialises in rapid diagnostic services, prosthetics and provides a range of mental healthcare and care of the elderly facilities to the local community. Construction was completed in 2006 and the project was acquired by Equitix in November 2010. The hospital provides outpatient rapid diagnostic and treatment facilities; a mental health community and day hospital facilities; a minor injuries treatment centre; limb fitting services; 69 mental health care beds; 50 elderly and intermediate care beds and 20 rehabilitation beds. The concession runs until 2035. FM services are provided by Sodexho. Life cycle and the managed equipment service continue to be provided by Bovis Lend Lease.

Equitix LIFT

In December 2010 Equitix Healthcare invested in two NHS Local Improvement Finance Trust (LIFT) companies which currently own 7 SPVs. The underlying assets (c. £85m capex) include medical centres, community hospitals and other local health assets in the Yorkshire and Tees Valley & South Durham areas. The latest scheme is still in construction but the older 6 schemes are already operational. FM services will be provided by Integral UK Ltd and FES FM Ltd.

Equitix Healthcare (Three Shires)

Three Shires was acquired by Equitix in June 2011 and comprises of three 30-year concessions for the provision of healthcare facilities in Derby, Leicester and Lincolnshire. All facilities are fully operational with works completing in 2008 at Leicestershire and in 2009 at Derby and Lincolnshire. The schemes include a provision of new mental health facilities and accommodation as well as a new community hospital in Lincolnshire with in-patient accommodation and out-patient clinics. Hard FM, soft FM and lifecycle will continue to be carried out by Carillion.

Equitix Fund II LIFT

In October 2011 Equitix acquired the 60% private sector shareholding in 6 LIFT companies: Greater Nottingham, North Nottinghamshire, Southern Derbyshire, MaST, Leicester and Sandwell. The six LIFT companies comprise 11 SPVs and underlying assets (c. £370m capex) including GP practices, dental clinics, a youth centre, a library, a 24 bed community hospital, community mental health services, physiotherapy, pharmacies and many other services. John Laing will continue to provide FM services whilst Community Solutions will take on the Management Services contracts.