Financial close was achieved on 8 July 2010 for the McGill University Health Centre P3 (MUHC) project in Montreal, Canada.
MUHC is currently composed of six hospitals on separate sites and the redevelopment project aims to bring five of these hospitals together on just two sites. The construction and management of the proposed Glen Campus is being financed as a P3. The new MUHC will have only single patient rooms, group key services in close proximity, integrate teaching and research into healthcare via the use of the latest technologies for advanced diagnostic and treatment techniques.
Construction of the new Glen Campus is expected to be completed in 2014 with a 30 year concession period to follow. The project will involve approximately CAD$1.5 bn in construction costs and approximately CAD$1.1bn in senior bond financing.
Operis provided financial model due diligence services on behalf of Innisfree and SNC-Lavalin who are part of the Groupe Immobilier Sante McGill consortium who were the winning bidders for the MUHC project.