The Director of Research and Innovation in a large teaching trust asked TRUSTECH about an established non core service delivery team that had grown from several research grant over the last 15 years.
The team were well established, with an excellent international reputation and a diverse mature revenue stream,
The Finance Director of the trust had tasked the Director and Service Lead with finding a resolution at minimal cost and risk to the trust.
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).