SAF Solutions developed the structured an innovative finance agreement for an industry-leading, modular Sterile Services Department at Stoke Mandeville Hospital.
A Sterile Services Department (SSD) plays a central role in the day-to-day running of a hospital, ensuring that the surgical instruments used within theatres and clinics are sterile, readily available, and safe to use.
The main priority for Buckinghamshire Healthcare Trust was to find a time-effective solution that would minimise service disruption across the hospital site, without compromising on quality.
Capital investment wasn’t an option for the project, and the hospital wanted to ensure it retained control of the facility and the staff running it, which wouldn’t have been possible if the decision has been taken to outsource the service.
Working alongside ModuleCo Healthcare and medical equipment supplier, MMM Medical, we were able to develop the funding solution needed to make this project a reality.
Thanks to our team’s significant experience within healthcare construction, particularly modular builds, we were able to develop the funding agreement for a managed service solution which incorporated the preliminary works including demolition of the existing building through to initial design, build and manufacture, installation and ongoing service and maintenance work into a monthly charge.
With capital purchase not being a viable option, a structured finance solution allowed the hospital to benefit from a much-needed, state-of-the-art facility, encompassing market-leading equipment, without having to part with precious capital.
The 15-year Managed Service Agreement also means that the Trust has dedicated support for any potential issues, ensuring these can be dealt with quickly. All of this is wrapped up in the monthly charge rate.
Through a SAF Solutions branded finance agreement, ModuleCo Healthcare, alongside MMM Medical were able to design, build and install an 800m2 modular sterile services facility in just 37 weeks.
There were significant works that needed to take place on-site before the new modular facility could be installed. This included the demolition of the original SSD and asbestos removal and the groundworks for the installation of the new facility.
With a funding solution in place, the additional costs associated with some of these complexities could be rolled into the monthly charge, providing the Trust with the reassurance that the project would continue without the need to find capital funds.
Phil Dring, Head of Sales at SAF Solutions, said of the project: “Working within healthcare can be complex, as there are always multiple considerations around funding and budget allocation. However, the delivery of the SSD at Stoke Mandeville Hospital shows the full capability of a structured finance agreement and underlines the experience we have working in this sector.
“Working closely with the Trust, ModuleCo Healthcare and MMM Medical, we were able to develop a finance solution that would ensure that there was no need to compromise on quality, both in terms of the equipment and the facility, as well as service delivery.
“The Trust is now benefitting from their new facility via a 15-year Managed Service Agreement, allowing for accurate economic forecasting and ensuring the hospital can continue to have access to vitally important sterile surgical equipment.”
Alan Wilson, Managing Director at ModuleCo Healthcare, said:
“The project requirements aligned closely with what we at ModuleCo Healthcare can deliver. We were able to provide a bespoke solution for the Trust, meeting budget constraints and encompassing the ongoing service management of the facility.
“With SAF’s support, we were able to ensure the full end-to-end delivery of the project without concerns around finding the upfront capital to pay for it. A managed service solution allows the Trust to benefit from a bespoke, state-of-the-art facility that will provide them with much-needed future resilience.”
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