The partnership, which is for up to 25 years and worth £150m, will see Interserve and UHS working with health and social care property company Prime to secure funding for new development projects.
The initial project programme includes the construction of a new main entrance, welcome centre, multi-storey car park and small on-site hotel.
The joint venture partnership will design, build, finance and operate new facilities required by UHS on top of other estates and support services.
UHS will receive an annual income from partnership activities and a share of the profits over the contract’s term, which will go towards supporting and enhancing the delivery of NHS care at UHS.
Adrian Ringrose, Interserve chief executive said: “We are excited to be working with UHS in this important partnership.
“Our partnership with Prime will benefit UHS patients and the staff who care for them as well as generating important additional income for the Trust.”
Fiona Dalton, chief executive of UHS, said: “This is an innovative and ground-breaking partnership which will see both organisations combining their capabilities and capacity to contribute towards the Trust’s 2020 Vision.”