Interserve share price down despite announcing four-year partnership with Department of Health

Oliver Gill
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Procure22 is the third iteration of the Department of Health's design and construction service framework (Source: Getty)

Interserve's share price edged down one per cent this morning despite announcing that it had won a place on a £4bn Department of Health (DoH) construction framework.

The support services company has been awarded one of six places on the DoH's ProCure22 framework that will start in October and run for the following four years.

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Interserve chief executive Adrian Ringrose revealed that the award was a result of months of hard work.

“We have been working towards securing a place on the Procure22 Framework since 2014.

"Together with our existing clients and experienced supply chain, we have sought to balance the complex needs of the sector with the provision of consistent and capable supply side teams that can help the NHS drive efficiency," he said.

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Procure22 is the third version of the NHS's procurement framework that establishes six principle supply chain partners. The framework establishes the partners as the go-to construction companies for NHS social care and capital schemes in the UK. ​

27 September 2016 @ 9:00amInterserve (IRV)

Interserve has worked with the DoH for 14 years under the predecessor frameworks to Procure22, delivering over £1bn of facilities across 250 projects.

Despite its historical partnership, like other support service and construction companies, Interserve needed to re-tender to the DoH to be accepted onto the latest framework derivation and highlighted specific areas of investment that it believed were important.

Ringrose added:

This has involved investment in many areas of the construction process such as programme level IT infrastructure, web services and communications as well as the further training and development of our people and supply chain.