The Credit Valley Hospital Phase II reaches financial close



    TORONTO, June 2 /CNW/ - Infrastructure Ontario and The Credit Valley
Hospital announced that the hospital and Bondfield Construction Company
Limited have achieved financial close. This signals that all contractual steps
have been completed for the Phase II redevelopment project.
    The expansion means approximately 270,000 square feet of new construction
and 70,000 square feet of renovations. It will provide enhanced hospital
services including more beds (392 to 471) and double the number of labour and
delivery rooms (seven to 15) with additional room for growth.
    Other improvements include expanding cancer treatment resources to
include a new high-dose radiation therapy suite and additional surgical
oncology, palliative and complex continuing care beds. Additionally, there
will be more capacity for neonatal care, increased diagnostic services and
support areas. An expanded laboratory from approximately 15,000 square feet to
42,000 square feet will provide more in-house support for diagnostics.
    The building team, led by Bondfield Construction Company Limited,
includes financial advisor National Bank Financial and financing arranged by
Société Générale Corporate and Investment Banking. The deal commits Bondfield
Construction Company Limited to build and finance the redevelopment project
for $162.8 million, which will be paid by the hospital when substantial
completion is reached in fall 2011. The provincial government will fund 90 per
cent of eligible construction costs. However, costs associated with medical
equipment, furniture and site preparation are funded wholly by the hospital.
At the peak of construction, there will be more than 150 workers on site
daily.
    "This project is part of the government's ReNew Ontario plan - a
five-year $30-billion-plus infrastructure investment plan that represents the
biggest investment in provincial infrastructure in more than a generation,"
said David Caplan, Minister of Public Infrastructure Renewal. "The final
contract is signed, demonstrating that the McGuinty government has delivered
on its commitment to this community."
    "The Credit Valley Hospital has been recognized for the quality of care
it provides," said Mississauga-Erindale MPP Harinder Takhar. "This
redevelopment project will allow the hospital to better cope with the
challenges of our aging and growing population in Peel region."
    "Getting Phase II underway is, to borrow a phrase from Winston Churchill,
'the end of the beginning'," said Mississauga-Streetsville MPP Bob Delaney.
"Especially for the growing families in western Mississauga, the expansion of
the maternity suite will mean more moms being able to give birth close to
home."
    Hospital president and CEO Wayne Fyffe says the impact of the project on
Credit Valley's patients and caregivers once completed will be immediate.
"Every patient deserves a bed when they are acutely ill or a woman in labour.
Once the new, four-storey A wing opens in 2011 we will have more inpatient
surgical capacity, more labour and delivery suites, and a proper home-like
environment for our complex continuing care and palliative care patients. We
are grateful to the province for making A and H wings a priority project for
our patients and families."
    Infrastructure Ontario and the Ministry of Health and Long-Term Care will
work with The Credit Valley Hospital to redevelop and expand the 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

                         The Credit Valley Hospital

    The Credit Valley Hospital (CVH) is located in Mississauga. It is a
community hospital providing leadership in the delivery of primary, secondary
and tertiary health care services to the diverse residents and growing
populations of Peel and Halton regions and beyond. The hospital serves a
catchment area of almost one million patients.
    The hospital has more than 2,000 employees, a number that is expected to
grow by up to 1,000 additional employees. The hospital also has more than 300
credentialed physicians and 554 volunteers.

    The Credit Valley Hospital Phase II Redevelopment Project

    Highlights of the redevelopment project include:

    -   A new four-storey inpatient unit and a two-storey/three-level
        addition located at the north end of the hospital.
    -   Increased capacity from 392 to 471 beds with additional room for
        growth. These beds will service maternal/child, complex continuing
        care, rehabilitation, surgical oncology and palliative care patients.
    -   Additional capacity for the Regional Maternal Child Centre to improve
        care and services in the South Peel Halton region which include:
           -  doubling the number of labour and delivery rooms from seven
              to 15
           -  expanding services for higher risk obstetrics
           -  a new and expanded Special Care Nursery
           -  an increase in bassinets from 22 to 37 to facilitate care for
              pre-term and other newborns requiring specialized neonatal care
              closer to home
           -  an expanded Paediatric Unit to enhance CVH's role as a Regional
              Children's Health Centre for South Peel-Halton regions
           -  new and expanded facilities for paediatric outpatient clinics
              including paediatric oncology satellite clinic and other sub-
              specialty programs and services for children
    -   An expanded laboratory from approximately 15,000 square feet to
        42,000 square feet to provide more in-house support for diagnostics.
    -   Two new caesarean section operating rooms.
    -   A new high-dose radiation therapy suite and resources for expanded
        cancer treatments to better meet current patient volumes and the
        expected volumes in coming years.
    

    The Credit Valley Hospital Phase II Redevelopment Project will add
approximately 270,000 square feet of new construction, which will increase the
hospital's overall physical size by almost one third. Approximately 70,000
square feet of renovated space will also be included in the project.

    Disponible en français





For further information:

For further information: Amy Tang, Minister's Office, Public
Infrastructure Renewal, (416) 325-4048; Terence Foran, Infrastructure Ontario,
(416) 325-2939; Wendy Johnson, Credit Valley Hospital, (905) 813-2617


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