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Funding approval announced for a new £353 million acute hospital in Smethwick.
Chancellor of the Exchequer, George Osborne MP, has today announced approval for a £353 million new acute hospital in Smethwick, to be funded by both the public and private sector through a Private Finance 2 deal.
The announcement comes as the Chancellor visited Rowley Regis Hospital – part of Sandwell and West Birmingham Hospitals NHS Trust – where he met with senior executives to hear how they are moving care closer to the community and ensuring the continued delivery of high-quality acute services.
The new Midland Metropolitan Hospital will bring together acute services on to one site, promoting better patient safety and a patient experience while ensuring the best value for money for the taxpayer.
The Chancellor said:
This ambitious package will ensure that patients across the West Midlands continue to benefit from access to world-class acute treatment and cutting edge facilities.
It is because of the difficult decisions we have taken as a government that we have been able to protect healthcare spending, and announce new facilities like the Midland Metropolitan Hospital.
Richard Samuda, Chairman of Sandwell and West Birmingham Hospitals commented:
This is a vote of confidence in 7,500 staff at the Trust. The Chancellor’s announcement at Rowley Regis Hospital reinforces our strategy of local care for long term conditions and a single specialist acute centre at the Midland Met.
Chief Executive, Toby Lewis added:
This is a decisive moment for healthcare in the West Midlands. We welcome the determination of the Chancellor to support the regeneration of Smethwick with this vital project for patients.
Construction of the new hospital is expected to commence in 2016 and be completed by 2018-19. Plans will be finalised over the coming months, with all funding subject to final approvals as usual.