I am announcing today that the Government will be exploring new opportunities for the future development of our government-owned limited company, Plasma Resources UK Ltd (PRUK).
The Department has successfully completed the first stages of the combination of its plasma products companies; which consist of the UK based fractionation facility Bio Products Laboratory Ltd (BPL) and the US based plasma supply company, DCI Inc. These two companies have been brought together under the Department of Health owned parent company PRUK.
Looking forward to the next phase of development, we have carefully examined the strategic options that will best allow the companies to grow and be successful in an established global industry, whilst also seeking to ensure jobs are maintained in the bioscience sector of the economy.
To ensure the continued success of PRUK, the future business strategy should address the need for investment in BPL’s specialist plant and skilled workforce in order to create more advanced products. PRUK should also continue to harness the potential of the US-based operations at DCI Inc which is well placed to develop its own portfolio. This requirement for further investment comes at a time when the Department of Health and the NHS is facing ever-increasing demands on its resources and must focus on delivering its front-line services.
Our conclusion is therefore that we will now assess development opportunities in conjunction with the private sector, seeking to gain a valuable contribution from not only a financial perspective, but also their operational expertise.
We have therefore appointed financial advisers to consider the most appropriate level of department ownership to deliver the Department’s objectives. This work will examine, in detail, the sale of all or part of the business, as well as other structures, to determine the best solution for the business, its employees, the NHS and taxpayers. Any future partner or investor would be chosen through a fair and open process and will be able to demonstrate the necessary skills, experience and resources to work with the companies to help them realise their potential and to develop their range of products.
As part of this process, we will be ensuring that any option continues to safeguard the interests of patients, that supplies of current products are secure and that resources are available to develop new products, such that NHS patients continue to receive the best possible care.