Balfour Beatty, the international infrastructure group, announces today that its joint venture has been named selected bidder for two new acute care hospitals in Vancouver, British Columbia, Canada, the company’s second major healthcare development in the region this year.
The 30 year PPP project on behalf of the Vancouver Island Health Authority will cover the financing, design, construction, and facilities management for the Campbell River Hospital and Comox Valley Hospital. These new world class acute care centres will help meet the growing and changing healthcare needs of the North Island communities.
Balfour Beatty is expected to invest C$17.2 million (£9.3 million) into the project, which represents 50% of the equity required. Its joint venture partner Graham Group Ltd will undertake the construction and Balfour Beatty will be responsible for the delivery of soft facilities management services. The joint venture is currently working with the Vancouver Island Health Authority to finalise financing and other aspects of the project.
In April 2014, Balfour Beatty announced that as part of the Affinity Partnerships consortium Balfour Beatty Investments had reached financial close on the C$350 million (£196 million) BC Children’s & BC Women’s Redevelopment Project (Phase 2) in British Columbia, Canada and would be providing finance, construction and facilities management services.
Steve Marshall, Balfour Beatty Executive Chairman, said: “The Canadian healthcare market is a new and growing market for us and we are very pleased to be the selected bidder for our second project there this year. The potential of the North America market is substantial and this latest project is further evidence of how we are combining our financing, development and construction expertise to deliver great value to our clients. We look forward to working closely with the Vancouver Island Health Authority and our joint ventures partners in finalising the financing arrangements and commencing construction.”
Analyst/investor enquiries:
Anoop Kang
Balfour Beatty plc
Tel. +44 (0)20 7216 6913
anoop.kang@balfourbeatty.com
Media enquiries:
Dominic Cheetham
Balfour Beatty plc
Tel. +44 (0) 20 7963 4235
dominic.cheetham@balfourbeatty.com
Notes to editors:
1. About Balfour Beatty
Balfour Beatty (www.balfourbeatty.com) is an international infrastructure group that delivers world class services essential to the development, creation and care of infrastructure assets; from finance and development, through design and project management to construction and maintenance.
Our businesses draw on more than 100 years of experience to deliver the highest levels of quality, safety and technical expertise to our clients principally in the UK and the USA, with developing businesses in Australia, Canada, the Middle East, South Africa and South East Asia.
With proven expertise in delivering infrastructure critical to support communities and society today and in the future, our key market sectors focus on infrastructure - transportation (roads, rail and aviation), power and energy, water, and complex buildings (both commercial and social).
Balfour Beatty employs 40,000 people around the world.
2. About Graham Group Ltd
Graham is one of Canada’s largest general contractors, providing construction services to over 350 projects annually, including commercial, infrastructure and industrial facilities. Graham is proudly owned by its employees. Gracorp, an affiliate of Graham Group, is a development manager, asset manager and private investor which currently manages three investments funds and twelve limited partnerships. Gracorp works with Graham to provide an integrated approach to project development.
3. About Vancouver Island Health Authority
Island Health provides health care and support services to more than 765,000 people on Vancouver Island, the islands in the Salish Sea and the Johnstone Strait, and mainland communities north of Powell River. With more than 18,000 staff, 1,900 physician partners, 6,000 volunteers, and the dedicated support of foundations, auxiliaries and regional hospital districts, Island Health delivers a broad range of health services, including: public health services, primary health care, home and community care, mental health and addictions services, acute care in hospitals, and more across a large, geographically diverse region.
