Spin Out Support #004

The Divisional Director in a large teaching trust in North West England approached TRUSTECH about a non core service delivery team that had grown from several research grant over the last 10 years.

Several members of the team were employed on honorary contracts with a local university, with grant funding originating in both the university and the trust.

The Finance Director of the trust had tasked the Divisional Director with finding a resolution at minimal cost and risk to the trust.

TRUSTECH support

TRUSTECH allocated one of our experienced project managers to work with the Divisional Director and the Service Lead and produce a Viability Audit considering, the services provided and the market, a high level 3 year profit and loss was produced, drawing accounting information from both the NHS and university.

The Viability Audit identified that there was potential to create a spin out from the NHS and TRUSTECH and the Service Lead worked together to produce an Options Appraisal that was approved by the executive team at the trust, leading to the development of a full Business Plan to transition the service into a stand alone trading organisation.

Following approval of the Business Plan a specialist team from TRUSTECH has been working with the head of service to deliver a seamless Transition Plan from non core service hosted within the trust, into a stand alone community interest company (CIC).

Research asset that could be commercialised?

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