Surrey Hospital Project Reaches Financial Close

On December 15, 2010, Integrated Team Solutions SMH Partnership (ITS) entered into a project agreement with the Fraser Health Authority (FHA) and achieved financial close in respect of the $512 million Surrey Memorial Hospital emergency department and critical care tower redevelopment and expansion project in Surrey, British Columbia — a design, build, finance and maintain Public Private Partnership. The new facility includes neonatal intensive care, inpatient care, critical care, medical education, helipad, parking and other clinical and non-clinical services. The project agreement requires ITS to design, build and finance the new facility and provide facilities management services for a period of 30 years from service commencement.

The design-build obligations under the project agreement will be performed by EllisDon Corporation. Facilities management services will be provided by Honeywell Limited.

The financing for the project was provided by Sun Life Assurance Company of Canada, The Canada Life Assurance Company and Industrial Alliance Insurance and Financial Services Inc.
FHA was represented by Bull, Housser & Tupper LLP with a team that comprised Greg Lewis, Jay LeMoine, Matt Mulligan and James Wishart.

ITS was represented by Blake, Cassels & Graydon LLP with a team that comprised Ian MacIntosh, Anne Stewart, QC, David Zacks, QC, Jyotika Reddy, Bavia Bisetty and Preetpal Bhamra. Manitoba law matters were provided by Kristen Wittman of Taylor McCaffrey LLP.

EllisDon Corporation was represented by Jody Becker, Vice President and General Counsel, Jim Karahalios, Counsel, together with Peter Schwartz of Harrison Pensa LLP.

Honeywell Limited was represented in-house by Elliot Gwosdy and assisted in British Columbia by Bryan Shapiro and Peter Gorgopa of Shapiro Hankinson & Knutson and in Ontario by Tobor Emakpor and Andrew MacDougall of Osler, Hoskin & Harcourt LLP.

The lenders were represented by McCarthy Tétrault LLP with a team that comprised Byran Gibson, QC, Sarah Bird, Morgan Troke, Samantha Cunliffe and Grant Boyle.