UK Research and Innovation has unveiled a £118m fund that will create five new hubs across the country, from Glasgow to Bristol, to help develop new health technologies in partnership with the private sector.

The funding will be split between government funding and partner support – inviting business to help the mission to kickstart the economy and build an NHS fit for the future.

Science and technology secretary Peter Kyle said: ‘The UK's scientists, researchers and captains of industry have brilliant ideas that aren't just going to boost our health – they'll boost our economy too, helping to build a virtuous circle for more investment in both health and research which will ultimately drive-up living standards.'

Health and Social Care Secretary, Wes Streeting, added that the investment will save lives and secure Britain's status as a powerhouse for life sciences and medical technology.

'When we combine the care of the NHS and the genius of our country's leading scientific minds, we can develop life changing treatments for patients and help get Britain's economy booming,' Streeting added.

In response, Vin Diwakar, National Director of Transformation at NHS England, said: ‘The NHS is globally unique in holding data for the entire population. This makes the test result information we hold particularly valuable for AI training as we know that it represents the population properly.

‘Like all data in NHS secure data environments, there are strict access rules, meaning the information will remain under the control of the NHS at all times and will only allow secure access to approved researchers who are conducting analysis which improves health and care.'

Professor Mike Lewis, Scientific Director for Innovation at NIHR, added: ‘Developing early diagnosis technologies that are closer to cancer patients is a key aim of this NIHR funding - the potential to find cancers earlier will give patients more choice of treatment, and enable us to save lives in the future.'