Serco the preferred bidder for Barts Health Trust's procurement service

FTSE 250 public service provider Serco is the preferred bidder for an east London hospital’s procurement services, which has an estimated value of up to £600m over 10 years.

There is a mandatory standstill period following the Barts Health NHS Trust’s decision to appoint Serco the preferred bidder.

Following the end of the standstill period the company said it will work with the trust to finalise the terms of the contract.

Shares in Serco were up 2.13% to 134.40p at 1251 BST.