Runnymede Healthcare Centre project reaches financial close



    TORONTO, Oct. 31 /CNW/ - Construction of the new Runnymede Healthcare
Centre is set to begin in early November. Infrastructure Ontario and Runnymede
Healthcare Centre announced that the hospital and Bondfield Construction
Company Ltd. have achieved financial close, which signals that all contractual
steps have been completed for the hospital's project.
    The state-of-the-art new hospital will be built on the existing Runnymede
Healthcare Centre site and will replace the older facility. The new hospital
will provide complex continuing care to adults of all ages and increase the
number of beds from 95 to 200. Enhanced clinical and medical services will
include a full range of therapeutic services such as physiotherapy,
occupational therapy, communication and swallowing therapy, audiology
services, respiratory therapy, customized dietary programs, activation and
recreation therapy, and social services.
    The project team, led by Bondfield Construction Company Ltd., includes
financing by the Ontario Teachers' Pension Plan, which was arranged by
National Bank Financial.
    The deal commits Bondfield to build and finance the hospital's
redevelopment project for $63 million, which will be paid only when
construction is completed. Approximately 100 workers will be on site daily.
    The estimated total cost of the project is approximately $89 million.
This includes the fixed construction contract with Bondfield as well as other
estimated costs related to the project such as furniture, equipment, permits,
architectural and engineering fees, transactional and project management fees.
    "We are excited to see this project moving forward," said Connie Dejak,
President & Chief Executive Officer, Runnymede Healthcare Centre. "This
redevelopment project will ensure that patients at Runnymede Healthcare Centre
continue to receive exceptional care in a new facility that addresses the
increasing demand for our specialty services."
    Construction is expected to be completed in summer 2010.
    Infrastructure Ontario is working with the Runnymede Healthcare Centre to
build the replacement hospital, which will remain publicly owned, publicly
controlled and publicly accountable. Infrastructure Ontario is a Crown
corporation dedicated to managing some of the province's larger and more
complex infrastructure renewal projects - ensuring they are built on time and
on budget.
    This project is guided by principles outlined in the province's Building
a Better Tomorrow framework, which ensures public ownership of core assets
such as hospitals, schools, and water and wastewater facilities.
    Visit www.infrastructureontario.ca for more information.


    
                                 BACKGROUNDER
    

    Runnymede Healthcare Centre originally opened in 1908 as Strathcona
Public School. The building was converted to a chronic care hospital in 1945
by the City of Toronto.
    The existing facility is a 95-bed hospital serving complex, continuing
care patients. The new facility, to be constructed on Runnymede Healthcare
Centre's current site, will increase capacity to 200 beds and provide complex
continuing care for adults.

    
    The following clinical and medical services currently offered will be
expanded and enhanced:

    -   a full range of therapeutic services;
    -   physiotherapy;
    -   occupational therapy;
    -   communication, swallowing and audiology therapy;
    -   customized dietary programs;
    -   respiratory therapy;
    -   activation and recreation activities;
    -   social services;
    -   pharmacy; and
    -   around the clock nursing and medical care.

    Construction is expected to begin in fall 2007.

    Disponible en français
    





For further information:

For further information: Jennifer Sclisizzi, Infrastructure Ontario,
(416) 325-7409; Connie Dejak, Runnymede Healthcare Centre, (416) 762-7316,
Ext. 220


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