The Lindo Wing at St Mary's Hospital where the Duchess of Cambridge will give birth to the royal baby in a few weeks has undergone an 18 month refurbishment.
Acclaimed visual artist, London born Julian Opie is providing 40 panels to be displayed over the units four floors.
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The entertainer was held for the murder of Stuart Lubbock, who was found dead in his swimming pool in 2001, but never charged.
Although the diamond was believed to be cut in the 19th Century, its history and how it arrived at the car boot sale is unknown.
The former entertainer, who was released from prison on Friday, is accused of indecently assaulting three women in the 70s and 80s.