South East Coast Ambulance Service secures 13m RBS funding package
Monday, 13 June, 2011
The Royal Bank of Scotland (RBS) has provided a £13 million funding package to the South East Coast Ambulance Service (SECAmb) as it sets out on a new phase in its history as a Foundation Trust.
SECAmb, which handles all 999 calls from the Surrey, Sussex and Kent public, last month became one of the first ambulance services in the UK to acquire Foundation Trust status.
As an authorised Foundation Trust, SECAmb now has more freedom from central government and is able to give local people a far greater say in the future of the service. NHS Foundation Trusts are a new type of NHS trust. They are still part of the NHS but are run locally and are accountable to patients, local communities and staff, rather than the Department of Health. It is SECAmb's vision to become a world leader in pre-hospital emergency care.
The working capital facility provided by RBS Corporate & Institutional Banking enabled SECAmb to meet the strict financial criteria required to achieve Foundation Trust status and provides the Trust with a working capital facility. The bank's dedicated charity and Foundation Trusts team was able to provide expert advice using experience gained from its work with more than 30 other NHS Foundation Trusts.
Colin Perry, Interim Finance Director, SECAmb said: "We are delighted to have obtained our new status, which we believe to be good news for local communities across the south east. I am grateful to Sharon [Stemp"> and her team at RBS, who have gone to great lengths to understand our business and work closely with us. As a result, RBS has been able to provide us with a facility that precisely meets the requirements of the Foundation Trust. They have exceeded all our expectations and we look forward to building our relationship with them further."
Sharon Stemp, Director, Client Coverage, RBS Corporate & Institutional Banking added: "We have supported some 34 NHS trusts prior to working with SECAmb, providing facilities in respect of their applications for NHS Foundation Trust status. This is a key area for us and we have built up a considerable level of expertise within it. We have been very impressed with SECAmb's vision for the ambulance service and its desire to provide high quality and innovative patient care across the region."
