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For Immediate Release
June 18, 2008
LONDON – Infrastructure Ontario, London Health Sciences Centre and St. Joseph’s Health Care, London, announced that the hospitals and EllisDon Corporation have achieved financial close to build and finance their redevelopment projects. Financial close signals that all contractual steps have been completed and construction is set to begin to renovate and expand the two hospitals.
The two projects include:
Additional space will be provided for:
The project team, led by EllisDon Corporation., includes financing for the St. Joseph’s Health Care, London project arranged by the Pacific & Western Bank of Canada. Financing for the London Health Sciences Centre project will be arranged by:
The Bank of Nova Scotia (Lender’s Agent)
The contracts commit EllisDon Corporation to build and finance the London Health Sciences Centre project for $211.8 million and the St. Joseph’s Health Care, London project for $49.2 million. The contracts guarantee fixed prices and fixed delivery dates for the redevelopment of the hospitals. The provincial government will fund 90 per cent of eligible construction costs.
EllisDon Corporation has begun to mobilize equipment on both sites. Construction at St. Joseph’s Hospital is expected to be complete in summer 2010 and construction at London Health Sciences Centre is expected to be complete in early 2011. At the peak of construction, over 300 workers will be on site daily at London Health Sciences Centre and over 100 workers will be on site daily at St. Joseph’s Hospital.
“Hospitals are one of the pillars of our communities,” said David Caplan, Minister of Public Infrastructure Renewal. “This project is part of the government’s five-year $30-billion-plus infrastructure investment plan, which represents the biggest investment in health care infrastructure in more than a generation.”
“Reaching this milestone is an exciting time for the London community,” said Chris Bentley, MPP London West. “Our vision of having state-of-the-art health care facilities is beginning to take shape and become reality for residents of London.”
“We’re very pleased to have reached financial close,” said Cliff Nordal, President and CEO of London Health Sciences Centre and President and CEO of St. Joseph’s Health Care, London. “Reaching this milestone brings us one step closer to completing projects that will provide our patients with the best facilities that we can offer, along with the exceptional care they already receive.”
“I’m pleased to see the construction of this project get underway,” said Derek Smith, Executive Director of the London & District Construction Association. “This is a significant project for everyone in the London region, and I know that our member companies and their local employees are looking forward to the opportunity to be involved.”
Infrastructure Ontario is working with London Health Sciences Centre and St. Joseph’s Health Care, London to redevelop the hospitals, which will remain publicly owned, publicly controlled and publicly accountable. Infrastructure Ontario is a Crown corporation dedicated to managing some of the province's larger and more complex infrastructure renewal projects – ensuring they are built on time and on budget.
This project is guided by principles outlined in the Province’s Building a Better Tomorrow framework, which ensures public ownership of core assets such as hospitals, schools, and water and wastewater facilities.
Visit www.infrastructureontario.ca for more information.
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Public Infrastructure Renewal
London Health Sciences Centre
519-685-8500 ext. 58738
St. Joseph’s Health Care, London
519-646-6100 ext. 64791
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