Medical Moneybags

When Prince Charles cut the ribbon on the new Neath Port Talbot Hospital on February 3, 2003, it was time to celebrate – particularly for the building’s private contractors.
A report in the Western Mail today reveals the hospital, which cost £66m to build, will end up costing taxpayers more than £300m as they pay back the PFI investors.
One winner, I note, was the Kier Group – motto ‘Working Together For Growth’.
It sold its interests in the hospital to private equity firm Secondary Market Infrastructure Fund less than two years after the Prince cut the ribbon.
It got £5m for its 25 per cent stake – twice the size of its initial investment.

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