Bank crisis won’t halt cancer centre

THE world-famous Christie Hospital’s new £17million radiotherapy centre in Oldham WILL go ahead — despite fears over the hospital’s £7.5 million in a failed Icelandic bank.

But future cancer research COULD be jeopardised if it doesn’t get its money back, says the controlling trust.

The renowned Christie invested the money — which includes £6.5 million of charitable donations — with Kaupthing Singer and Friedlander in May and June this year.

It chose the bank, which is regulated by the Financial Services Authority, because of its high credit rating and favourable interest rates.

Officials stressed that short-term development would be unaffected and have been told there is a “very, very good” chance of recovering the money.

The construction of the radiotherapy unit at the Royal Oldham Hospital, due to open at the end of 2009, and a second centre in Salford will continue.

Each will be able to treat up to 70 patients who will no longer have to travel to The Christie in Withington for radiotherapy.

Bosses of the Royal Oldham Hospital are also creating an extra 78 general medical beds in the new building.

A spokesman for Pennine Acute Trust, which runs the hospital, said: “We have had discussions with the Christie and they moved very quickly to reassure us that the centre at Oldham would not be threatened by the situation.

“It’s a project that has been a long time in planning and this is very good news for patients in the area.

“We will be moving ahead as quickly as we can so the state-of-the-art facility can start treating patients and help them avoid a lengthy journey for their radiotherapy.”

However, Dr Chris Harrison, medical director of Christie, said: “It is possible that if we do not get the money back we won’t be able to carry out the research that will lead to drug development for the future.”