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The New Royal Adelaide Hospital is one of the largest hospitals procured to date under Australia’s National PPP Guidelines and involves state-of-the-art design, construction and service delivery under a privately financed model. Located on North Terrace in the heart of Adelaide’s CBD, construction started in September 2011 and is scheduled to be completed in 2016. The hospital will have 800 beds and is expected to see more than 80,000 admissions per year.
The South Australian Government approved the procurement of the new Royal Adelaide Hospital via a Public Private Partnership (PPP) delivery model for a contract term of 35 years from financial close. This partnership will see the public sector (SA Health) continue to operate the hospital and provide all core clinical services, staffing, teaching, training and research, while the private sector will finance, design, construct and maintain the new hospital building.
Advisian’s roles and inputs included:
The New Royal Adelaide Hospital was at the cusp of government retrieving some of the risk transfer lost at the time of the GFC. It was innovative particularly in its use and commercial approach to Interactive Tender Processes and in introducing not only a state-of-the-art acute and teaching facility but also shepherding in a new model of care. The commercial terms and conditions were similar to the pre GFC status in Australia and the project was successfully funded under a competitive approach without syndication or market disruption risk. The risk transfer and value for money approach was effective and compliant with policy and good practice and delivered