Warwick Hospital pays off its debts

The trust that runs Warwick Hospital paid off its £18.5million debt on Friday.

The milestone £854,000 payment will be the final instalment of the refinancing loan that was taken out in 2007 to secure the South Warwickshire NHS Foundation Trust.

“This is an important milestone for the trust,” said chief executive Glen Burley, who joined the trust in 2006.

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“It really validates all of our recent achievements and allows us to have an even stronger platform for the future.

“The most important factor is that all of the future money that the trust makes can now be invested back into care – keeping our core focus on our patients.”

Alongside paying the loan, the trust has strengthened both its financial position and performance and has been classed as one of the most recommended hospitals in the country.

The trust has also been able to make a number of developments over the last five years, which includes reaching foundation status in 2010 and the acquisition of Warwickshire Community Services by the trust in 2011, as well as the refurbishment and development of the main theatres suite and the Aylesford Ward at Warwick Hospital.

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Mr Burley added “I would like to thank all of our staff for their ongoing support and dedication.”

Some of the trust’s upcoming developments include the current development at the Leamington Rehabilitation Hospital and the maternity department at Warwick