COMMERCIAL: The estates and infrastructure arm of Guy’s and St Thomas’ Foundation Trust believes there is potentially an extra £6m in profit to be made for the trust on “higher margin traded services”.

In March the board voted to rebrand the capital estates facilities and IT&T directorate as “Essentia” and a report from Essentia director Steve McGuire said it was now “considering suitable business models which may lead to combination of a trading subsidiary, to be the vehicle for growing income from other NHS bodies, and an enhanced core GSTT employee model that improves productivity and provides the environment to transform the way the workforce is managed and rewarded.”

It added: “From initial conservative projections, the Essentia team estimate it could grow traded income by up to 100 per cent over the next five years, whilst delivering on its CIP targets and commitments to improve patient care. Targeting growth in higher margin traded services could generate surplus income to the Trust of between £4m and £6m per annum.”