SNC-Lavalin and Innisfree partnership completes construction of P3 hospital in Montreal

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SNC-Lavalin and Innisfree partnership completes construction of P3 hospital in Montreal

SNC-Lavalin has announced that the McGill University Health Center's (MUHC) Glen site hospital complex in Montreal, Canada has received its substantial completion certificate.

One of the largest public-private partnerships (PPP) in North America, Glen site will transform patient care and offer state-of-the-art teaching and research environments for health professionals. Groupe immobilier santé McGill (GISM), a partnership composed of SNC-Lavalin and Innisfree, designed, built and financed the hospital complex, and will now oversee its operation and maintenance for the next 30 years.

Covering an area of 250,550 square metres and featuring ultra-modern facilities, the Glen site will bring together the Royal Victoria Hospital, the Montreal Children's Hospital, the Montreal Chest Institute, the Cancer Center and the MUHC Research Institute on a single site.

The hospital complex offers spaces devoted to world-class teaching and research, as well as 20 operating rooms, 154 pediatric and 346 adult single-patient rooms, both with private bathrooms and space for visitors. There will also be two parking garages to accommodate 2,859 vehicles.

The total project investment was around CAD1.3 billion.

Financial took place in July 2010. The financing for the project consisted of $764 million long-term senior secured bonds issued by a special purpose corporation and wholly-owned subsidiary of Groupe immobilier santé McGill, which bonds were underwritten by Scotia Capital Inc. and Casgrain & Company Limited and Dexia Crédit Local S.A., as well as a $392 million senior secured construction facility made available by seven Canadian and international banks.

Robert G. Card, President and Chief Executive Officer, SNC-Lavalin Group Inc. stated:

"Over the last four years, we applied the most innovative financing, engineering and construction methods to deliver one of the largest public-private partnership projects in Canada. Thanks to hard work and a deep commitment to quality, we delivered a truly world-class facility as promised."

Hisham Mahmoud, President, Infrastructure, SNC-Lavalin Group Inc. commented:

"I would like to thank the more than 9,000 people who came together to create a facility that will positively impact quality of life in the province for generations. Together, we've taken an abandoned railyard and transformed it into one of the world's leading healthcare facilities. We're proud to be one of relatively few companies in the world with the resources and capabilities to invest in, design, build, and then operate and maintain facilities that directly improve lives, and the Glen site is a great example of that."

Denis Crevier, President, GISM added:

"GISM is thrilled to continue its involvement in this remarkable project through providing top-quality site operations and maintenance services for the next three decades. We will help ensure that superior services are delivered to all patients and visitors who come to this outstanding hospital complex."

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