A £50 million new hospital is to be built on the Plymouth International Medical and Technology Park at Derriford.

The new centre of clinical excellence is designed by international architects Foster Partners, the same company behind the world's highest and largest viaduct across the Tarn Gorge in France. They also built the world's largest airport in Hong Kong and the Millennium Bridge in London.

The specialist hospital will create a minimum of 250 jobs and give a significant boost to Plymouth's economy and that of the region's health sector. Both NHS and private paid patients will be offered world class surgical, diagnostic and treatment services.

Its elegant and original new building will be the first in Plymouth designed by Lord Foster's team and will house the latest medical technology and treatment facilities over three floors as well as incorporating many environmentally friendly features.

An outline planning application was submitted by Health Properties (Plymouth) Ltd, on behalf of the health operator Circle. They took the decision to make the multi-million pound investment in Plymouth following negotiations with the South West of England Regional Development Agency (RDA), which owns the Plymouth International Medical and Technology Park.

Rory Coonan, Head of Design and Architecture for Health Properties, said: "This is good news for Plymouth. We are delighted to collaborate with the South West RDA in bringing forward this innovative venture, which will add value to the science, technology and medical cluster around Derriford. Over the next few months we will be working with Plymouth City Council and our design team to refine the proposals."

The South West RDA's work to develop Plymouth's health sector economy through the promotion of the Plymouth International Medical and Technology Park has already seen the site become home to range of high profile occupiers, including health-related organisations such as the Peninsula Radiology Academy and the Peninsula NHS Treatment Centre. The NHS has also acquired 20 acres of the site for the Vanguard planned care centre project.

Steve O'Higgins, Development Manager of Major Projects for the South West RDA, said: "This is one of the most significant announcements of inward investment in Plymouth over the last decade both in economic terms, including the creation of high value jobs, and in improving access to high quality healthcare for people in the region.

"The centre of clinical excellence will further strengthen the role of Plymouth International Medical and Technology Park as a base for health and medical-related organisations and in helping maximise the economic potential for Plymouth of its growing health sector centred around Derriford."