Quinte Healthcare Project Closes

Quinte Healthcare Corporation reached financial close with M. Sullivan & Son Ltd., their lenders, The Manufacturers Life Insurance Company and Industrial Alliance Insurance and Financial Services Inc. and the lenders' agent, Stonebridge Financial Corporation, for the construction and financing of the Quinte Health Care Bellville General hospital's expansion and renovation project on February 28, 2007. The value of the contract is $72.2 million. The project was managed by Infrastructure Ontario and was the first of the build finance projects to close under Infrastructure Ontario's new alternative financing and procurement model. The Quinte Health Care project is one of many hospital infrastructure projects being upgraded and modernized under ReNew Ontario, the Ontario government's five year, $30 billion plus public infrastructure investment plan.

Quinte Healthcare Corporation's and Infrastructure Ontario's legal team was led in-house by Steven Kresak, legal counsel with Infrastructure Ontario and by McCarthy Tétrault LLP with a team that included Gordon Willcocks, Gordon Sato, Godyne Sibay, Vernita Tsang, Paul Jachymek (real estate), Shanon Grauer and Janie Lin (corporate), and Brian Pel and Jim Warnock (commodity tax).

M. Sullivan & Son Limited was represented by Donald Rasmussen and Robert Hurtubise of Rasmussen Starr Ruddy, LLP.

The lenders were represented by Nicholas Williams and Jennifer Bensky of Ogilvy Renault LLP.