With public funding in short supply and PFI becoming increasingly unpopular the stage is set for a new procurement route for NHS projects. And that procurement route looks set to be a form of joint venture, similar to the Local Asset-Backed Vehicles that have been used elsewhere in the public sector. The public sector contributes the land and the assets, and the private sector secures funding to an equivalent amount. Both have a 50-50 share in the resulting company.
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