Property News Kent Hospital Funding Agreed

Kent Institute of Medicine & Surgery

One of the UK’s most advanced surgical hospitals, the Kent Institute of Medicine and Surgery (KIMS), has been given the go ahead, following a successful closure of a £34m funding deal.

Following five years of planning, the hospital’s build will start this month, after Clydesdale Bank agreed to provide £34million of funding for the project, covering the initial build and operational costs thereafter.

Additional funding for the £80million scheme is being provided by a number of corporate and private investors.  The private investors include around 100 clinicians who are providing cash and personal guarantees. KIMS is a clinician-led and part-owned facility.

The detailed valuation consultancy and due diligence appraisal for the provision of the new hospital was provided by commercial property specialists at Colliers International, on behalf of Clydesdale Bank.

KIMS is being built on a seven acre site close to the M20 near Maidstone, and will provide care across multiple disciplines, including Cardiothoracic, Neurosurgery, Gynaecology, Orthopaedics, Oncology and diagnostics, including angiography, advanced MRI and nuclear medicine.

Once open, anticipated to be early 2014, KIMS will provide the only Cardiothoracic and Neurosurgery tertiary care beds in Kent, including the recently opened NHS hospital at Pembury. The longer term vision is to extend the site, creating a medical campus that will be a ‘centre of excellence’.

KIMS will utilise the services of around 200 clinicians, including leading names from a number of medical disciplines.  The hospital will also create around 400 new jobs at the site.

The new hospital will provide private medical care, plus support for the NHS by providing treatments to Kent residents for which they currently have to travel to London hospitals. KIMS will make up to 25% of its capacity available for NHS treatments.

The new facility will feature nine theatres for both simple and complex procedures, incorporating video-facilities and enabling teaching and instruction anywhere in the world.  The hospital will also benefit from the latest medical technology thanks to an agreement with GE Healthcare, which in turn will benefit from being able to showcase its products at KIMS.

Stuart Trussler from Clydesdale Bank said: “This deal is fantastic news for Kent. We are very pleased to have been supporting KIMS and bringing a much needed facility to life, improving healthcare and patient outcomes in Kent”.  

Max Broadbent from Colliers International said: “This has been a great project to work on. We provided a financial feasibility study for valuation purposes, utilising local and international hospital benchmarks on behalf of Clydesdale Bank. With the total project value in the region of £80 million, the new hospital will provide excellent private and NHS healthcare facilities for its patients and will create much needed jobs for the local community”.

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