There have been 47 refinancings of hospital, school and other PFI projects up to the end of the last financial year. The Blairs are not and have never been directors of Octagon Healthcare, the company responsible for the PFI. Its restructuring entailed redundancies for hundreds of staff and down-banding of others. My comment telling them theyve got it wrong, will be lost amid the 500 comments and anyway it is too late. As a result of money released from the refinancing, Octagon paid out 11 million in dividends to its shareholders. Karen O'Donnell Client Director-PFI & Infrastructure Team. Privacy, terms and conditions. Octagon sub-contracts those day-to-day services to Serco. The unit is set to increase capacity at the Norfolk and Norwich University Hospital by 25pc.[8]. This article is part of our work fact checking potentially false pictures, videos and stories on Facebook. The chief executive and founder of Innisfree, David Metter, appeared in the Sunday Times rich list in 2013 with an estimated worth of 80m, made from investments in a number of PFI projects. Then, two people got in touch to ask me if it was true Tony Blair is making millions of pounds from that deal. If you are dissatisfied with the response provided you can Full Fact is a registered charity (no. As a subscriber, you are shown 80% less display advertising when reading our articles. If your agency is in need of additional manpower and you cannot handle it in-house (current employees, overtime, or temp/term appointments) and contractors are too expensive or take too long to setup, then PFI may be a great alternative. Collectively our team has over 120 years of property experience, andthe key individuals have extensive experience in the ownership, management and development of industrial property. The Trust told senior doctors, "We would like you to know that the trust will support you in making difficult decisions that may be the least unsafe decision, and we would appreciate your cooperation over the coming days with this". Focused on multidisciplinary, multi-organizational teams. Meanwhile, dividends to Octagon's shareholders were up 35pc last year from just under 5m in 2014 and have increased by 700pc since 2013 when they were 834,000. (712) 458-2001. Bhd. Apply for Director - PFI Consultancy job with Arcadis in London, Greater London, United Kingdom. The PFI contract was entered into on 8.1.1998 for a duration of 60 years at an estimated value of 144 000 000 GBP with Octagon. 1158683) and a non-profit company (no. Read more about our Board of Directors here. The past month has seen the demise of construction giant Carillion followed by the collapse of Capitas market value: both firms having built huge empires by providing outsourced services to public authorities. The hospital is forecast to run a 32m deficit this year and must find savings of at least 22m by March 2017. St. Louis, MO 63108 Phone: (800) 500-8130 or (314) 371-6000, ext. A Department of Health spokesperson said: 'We provide advice and consultancy on PFIs to individual trusts across the country, making savings on their current contracts.'. Its glistening blue tower is emblematic of an ultra-modern 21st-century NHS. At the end of the contract, ownership of the hospital will pass to the NHS. To save the NHS we must go forward to a workers government. Do Rishi Sunaks claims about hospital discharge funding stack up? The key individuals have extensive experience in the . Long-time critic of PFI Professor Pollock argues that these mergers will be followed by the final wave of closures in the run-up to privatisation and franchising out. Sir Howard Davies, chairman of the Royal Bank of Scotland (RBS), recently made an astonishing admission on BBC1s Question Time when he stated that private finance initiatives (PFI) had been a fraud on the people. Octagon reported a profit of 22,000 in 2010, which has risen every year since, soaring to a record 5m in 2015/16. PFI CAPITAL LIMITED (09498729) Company status Active Correspondence address Unit 5 Orion Trading Estate, Tenax Road, Trafford Park, Manchester, Greater Manchester, England, M17 1JT Role Active. (712) 4S8-2001. The PFI team are New Zealand's industrial property experts. Full Fact fights for good, reliable information in the media, online, and in politics. Bad information ruins lives. You can read more about thisand find out how to report Facebook contenthere. Neom is a project aiming to construct a huge new smart city on the Red Sea coast in the northwestern Saudi province of Tabuk. Norfolk and Norwich University Hospitals NHS Foundation Trust Arthur South Day Procedure Unit entrance The chief executive of Healthwatch Norfolk, Alex Stewart, said: 'If the money could be put back into services, people would potentially be seen far more quickly.'. Prior to joining, Ewan spent 13 years working in various roles in property, asset and fund management in the United Kingdom, the last nine in Edinburgh where he worked managing and acquiring a diverse range of property for a large property trust. Up until the last sentence, the post is largely based on facts which you can find in old EDP articles, although they have confused some of them. It is true that a new hospital, The Norfolk and Norwich University Hospital (NNUH), was funded using a private finance initiative (PFI) and was announced by Mr Blair on 11th January 1998although the hospital trust first invited expressions of interest from private companies to build and finance the hospital as early as 1995, before Mr Blair was prime minister. For a golden period, Gordon Browns apparent vanquishment of boom and bust kept any problems in check. It cannot get out of the deal until 2037 at the earliest. Director since 2001, last re-elected June 2020. [19], In 2011, a Care Quality Commission inspection found that the hospital was in the moderate concern category with regards to nutritional screening. Jon Wiegand Head-Power, UK Global Broking Center. This site is part of Newsquest's audited local newspaper network. The level of subsequent potential risks and costs borne by the public sector was thought by some critics of the deal to be unacceptably high. Full Fact is a registered charity (no. It was a persuasive argument which seduced many. Greg has a background in property investment, funds management and development with more than 25 years experience in the management, ownership and development of industrial, commercial, build to rent residential and retail property. 'This does limit the opportunities for us to find the savings we need to reduce our financial losses,' a hospital spokesperson said. Nicked from a FB Friend, he wrote, before sharing that same false information. The subsequent report says the refinancing deal was 'lining investors' pockets' and putting the trust at increased financial risk. Octagon Board of Directors. This figure may certainly prove to be questionable. 'This is what it was all about at the beginning,' he said. Sav graduated from the University of Auckland with a conjoint degree in Commerce and Property. All directors are appointed by shareholders at PFIs annual meeting. Office Admin Team Interim Executive Director- Kay Guiredirector.pfi@vcn.com Office Manager manager.pfi@vcn.com Clinical Team Clinical Director - Sarah Leger-Hayworth, MS, LPC 1505admin.pfi@vcn.com Counselor - Leslie Mashak MS, LPCleslie.pfi@vcn.com Certified Addiction Practitioner Assistant - Kim Krogmankim@personalfrontiers.org Case Manager/Forensic Peer Specialist - Autumn Rosenau, BAautumn . Screens provide live information about how many cases are being handled and the current status of the A&E department. Prior to this,Simon was General Manager of PFI from mid-2013, and prior to that, General Manager of Direct Property Fund (DPF) before PFI's merger with (DPF) in 2013, having joined McDougall Reidy & Co Limited as Development Manager in 2005. Starting salary from 53,353 per annum, dependant on skills and experience, with an annual Posted 7 days ago Director of Estates and Facilities Royal Cornwall Hospitals NHS Trust 3.6 Truro Permanent Apr 23, 2020 Happy St George's Day to Palestinians, English, Georgians, Serbs, Portuguese, Maltese and Lithuanians everywhere who share his named day! But when the financial crisis was followed by the diktats of austerity, PFI began to unravel. Gen is a graduate of the University of Auckland, where she completed a Bachelor of Arts in Ancient History and Anthropology. And it now looks like they might be brought in to administer the last rites. Many PFI contracts came with strings attached, facilities maintenance often subcontracted on a long-term basis as part of the deal. Photo: Stefan Rousseau/PA Wire (Image: The Press Association). PFI-RP grants are up to $550,000 over 36 months. Director since February 2018, last re-elected May 2021. This website and associated newspapers adhere to the Independent Press Standards Organisation's [17], The hospital was placed on black alert in November 2007 when it ran out of beds for a time. In 1997 it appeared to be New Labours magical solution to chronic underinvestment in public services in the wake of Thatcherism. Director - PFI / PPP Currie & Brown 1991 - 200716 years London, United Kingdom Director responsible for all aspects of consultancy advice in the social infrastructure and real estate sectors.. search. 2001: The new Norfolk and Norwich Hospital officially opens ahead of schedule and on budget. The Octagon Sports & Entertainment Network (OSEN), within the Interpublic Group (NYSE: IPG), encompasses industry leaders Octagon, R&CPMK, Milkmoney, Futures Sport & Entertainment, FRUKT and No2ndPlace.This formidable family of agencies specializes in sports, entertainment and lifestyle marketing, and public relations for brands, athletes, and celebrities. The Norfolk and Norwich University Hospital. And why are they asking about it now? c/o B2S Marketing Av. It is a socialist paper and gives particular coverage to Trades Union and International news. The board currently has five directors, four of whom are independent directors and one non-executive director. Norwich and Norfolk University Hospitals Foundation Trust pays Octagon for use of the hospital and some maintenance fees. That 20m would pay the wages of 800 nurses, or 200 GPs. However, repayments will reach 7.1bn by 2049. Partnerships for Innovation (PFI) PFI-TT grants are up to $250,000 over 18-24 months. Jesus Soriano, Program Director, pfi@nsf.gov, (703) 292-7795 Katie Bratlie, Program Director, pfi@nsf.gov, (703) 292-2638 Samir Iqbal, Program Director, pfi@nsf.gov, (703) 292-7529 Sincerely, Erwin Gianchandani Assistant Director Directorate for Technology, Innovation, and Partnerships REFERENCES 1 https://www.nature.com/articles/d41586-021-03045-w All directors are appointed by shareholders at PFI's annual meeting. Indeed, the National Audit Office has recommended that the Government should have the power to cancel contracts which are not providing value for money. One recurring theme in all this and in many of the financial scandals following the 2007-08 crash has been the clean bill of health given by auditors to firms that subsequently found themselves in trouble. There is little mention of the N&N or Octagon in its annual reprt. We will endeavour to minimise these through other measures to reduce pay costs such as those set out above.. Sav joined the PFI team as Property Manager in early 2022. Pamela joined PFI as Finance Manager in 2020. Octagon is owned by three shareholders called Innisfree (which owns 36.84pc), 3i Infrastructure Seeds Assets Ltd (which also holds 36.84pc) and Semperian (which owns 26.32pc). ASSISTANT DIRECTOR OF ESTATES AND FACILITIES: FACILITIES MANAGEMENT*. The Pet Food Institute (PFI) has selected Dana Brooks as the organization's new president and chief executive office. Mohammed bin Salman, Crown Prince and Chairman of the Neom Company Board of Directors this week . 'Why doesn't the government stand up and say, 'we are not going to pay'? Samantha is a graduate of the University of Pretoria and University of South Africa, and has completed a Bachelor of Commerce degree in Accounting Sciences and an honours degree in Accounting Sciences respectively. Listed on 2023-02-23. He said he did not get a glimpse of the PFI deal in the late 1990s before the hospital was built. In this situation of financial crisis it has also accepted its liability for Octagon being able to repay its debts. Be seen as the team's 'go to' subject matter expert in relation to PFI. David is a senior partner at law firm Buddle Findlay, where he runs a broad corporate and commercial law practice, with particular expertise in mergers and acquisitions, joint ventures and corporate structuring. Those ads you do see are predominantly from local businesses promoting local services. Semperian Executive Emma Lancaster Managing Director of Assurance Services Becky Brunt Managing Director of Business Support Alan Birch Chief Executive Officer Andrew Rhodes Deputy Chief Executive Jonathan Simpson Chief Finance Officer Gary Brown Chief Operating Officer Richard Little Chief Investment Officer Colin Anderson Group Counsel The PFI costs take up around 10pc of its annual budget. Nirali works closely with the rest of the finance team of PFI, with a particular focus on Accounts Payable. Ewan is responsible for leading the team that manages PFI's property portfolio. This page was last edited on 9 February 2023, at 11:41. Greg is also director of Reidy & Co Limited. It meant 33.9m of funds would be released to the hospital, but the minimum repayment term was extend from 30 to 35 years, meaning it could not get out of the contract and payments to Octagon until 2037 at the earliest. Ive been getting some weird emails recently. Start your Independent Premium subscription today. Pfizer Director since 2014. Facebook shows people information which is the most liked or shared not which is the most accurate. Mr Gibson added the multi-million pound dividends to Octagon's three shareholders were not a surprise. Simply centralising the debt might still mean taxpayers forking out billions as profits for PFI consortia. Do you have a story for the investigation unit? He was until recently a member of Buddle Findlay's board for seven years. MPs on the public accounts committee say Octagon used a refinancing deal of the Norfolk and Norwich PFI (Private Finance Initiative) hospital project to boost the investors' return by a gigantic 153 million, and to increase the liability of the hospital trust to 257 million if it needed to terminate the contract early. These have seen rates of return, double, treble and even quadruple. (712) 466-2473. Total UK PFI debt for the taxpayer is over 300bn for infrastructure projects with a value of 54.7bn. She is a graduate of the University of Waikato where she completed her Bachelor of Management Studies with Honours. All this has thrown up searching questions, not least around staff redundancies and pensions, bailouts, inflated dividends and executive remuneration. Octagon has a 60-year contract with the hospital to provide it with those non-clinical services. The hospital says the PFI contract means its buildings are maintained to a high standard for the lifetime of the contract and they are also refurbished regularly. Our verdict The hospital was built using a PFI. Carolyn has a background in investment management, capital markets and mergers and acquisitions, having spent six years as a portfolio manager at the Guardians of New Zealand Superannuation, and ten years prior to that in investment banking at Forsyth Barr and First NZ Capital / Credit Suisse. I also wanted to know why they thought the former PM was profiting from the private finance initiative (PFI) deal which funded the NNUHs construction in 2000. Anthony is a professional director and consultant, consulting to both the private and public sector on a wide variety of property matters. Company website; Company jobs; . Auckland, 1010. The original cost of the project was 1.1bn. The executive team reports to the board of directors and is responsible for all investment, property and administration management functions. As Alan Milburn the former Labour Health Secretary described by Private Eye as an almost maniacal convert to PFI put it: Its PFI or bust.. None of the firms involved in Octagon responded to our requests for comment. Up and down the country, this is the slick, corporate sheen of PFI hospitals. An active participant in setting PFI's overall financial strategy, the finance director will also lead all financial administration, budgeting, financial reporting, fiscal grant management and financial policies and controls maintenance. [2] The hospital is a teaching centre for nurses (adult and children's), midwives, doctors, radiographers, therapists and operating department practitioners. Professor Pollock tells me that contracts have to be made transparent in order to be scrutinised. And that right was only obtained by taking on huge extra potential liabilities. Prior to joining PFI, Nick spent four years at ASB Bank in various planning, forecasting and analysis roles. A report to the N&N's board warns it may struggle to find savings. He was formerly head of property for AMP Capital Investors (New Zealand) Limited and is a Chartered Fellow of the New Zealand Institute of Directors, a Fellow of the New Zealand Institute of Valuers, a Fellow of the Financial Services Institute of Australasia and a Life member of the Property Institute of New Zealand. She previously served as a director of Providence Health from 2019-2021, Noora Health from 2018-2021, YWCA of Nashville and Middle Tennessee from 2016-2022, and CARE from 2001-2013. . The ballast sides support your arms while making it easy to fold the chair away when not in use. Nick works with both the Finance and Property teams on a wide variety of analytical tasks, including budgeting / forecasting and valuations, as well as assisting with the execution of projects and transactions. 02 Barra da Tijuca Rio de Janeiro, RJ CEP 22640-102 Brazil +55 (21) 3431-3399; Get Directions . Estimates as far back as 2004 predicted taxpayers, through the N&N, will pay Octagon more than 1 billion nearly five times the 229m cost of building and opening the hospital. The third shareholder, Semperian, has investments in infrastructure projects and PFIs from hospitals, to schools and roads. This year. A quick search on Google will tell you who the directors and shareholders of the company, Octagon Healthcare Group, are. The way to deal with their claims for financial liability is to nationalise them under workers control without compensation. But anyone who reads our article, can see it is based on facts which do not support the misinformation being spread on Facebook. There would still be plenty left over to cover the training of the next generation of surgeons and build 80 state-of-the-art hospitals. 'The refinancing will release significant resources for the NHS in central Norfolk,' said a press release from the N&N at the time. Rodrigo is responsible for the asset management of a portfolio of PFIs properties as well as major capital projects within the portfolio. RBS was the biggest bank in the world by assets when it failed in 2008. because Tony and Cherie Blair are not directors of Octagon Healthcare. Director - PFI Consultancy. Shalini works closely with the rest of the finance team, with a particular focus on Accounts Payable. Semperian, has investments in infrastructure projects and PFIs from hospitals, schools... Last edited on 9 February 2023, at 11:41 third shareholder, Semperian, has investments in infrastructure and! Pfi ) PFI-TT grants are up to $ 550,000 over 36 months job... 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