Laing O'Rourke has been named as contractor for a £120m hospital development on the Cambridge Biomedical Campus (CBC).

According to The Construction Index, the appointment of the company follows the signing of a joint venture agreement between Cambridge University Hospitals (CUH) and developer John Laing, which will arrange private funding.

The contractor will construct a development that will be known as 'The Forum', and will comprised of a 100-bed private hospital, a post-graduate medical education centre, and a hotel/conference centre.

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It will be designed by architect NBBJ.

Discussions will now take place to finalise the funding and operational plan for the development as well as securing planning permission.

As the first major project of its kind in the NHS, CUH will receive an annual income plus a share of the profits over the duration of the contract. The money will go towards the support and enhancement of delivery of patient care at the CUH's two hospitals – Addenbrooke's and the Rosie.

During the construction phase of the project, more than 300 jobs are expected to be created.

Subject to planning permission, building work is anticipated to start in summer 2014 with an estimated completion date of summer 2016.

(JP/IT)