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<p>In November 2018, NHS Improvement published an addendum to the Transactions Guidance
– for trusts undertaking transactions, including mergers and acquisitions, to include
further guidance about trusts forming or changing a subsidiary (“the Addendum”). Under
that guidance, all subsidiary proposals must be referred to NHS Improvement for consideration.</p><p>The
trust may only proceed with the transaction and enter into any legally-binding arrangements
in relation to the subsidiary once the proposal has been reviewed by NHS Improvement.</p>
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