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Penticton Regional Hospital P3 project reaches financial close

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Interior Health Authority, Penticton Regional Hospital

Financial close has been reached on the Penticton Regional Hospital Project in British Columbia.  Fasken Martineau represented Interior Health Authority with respect to the development of the new patient care tower. The approximately US $325 million project will include over 26,000 square meters of new health facilities and will improve access to services and patient care currently available at the hospital. This project is a cutting edge project in contracting for a combination of new and pre-existing facilities, including upgrading site-wide systems and transferring responsibility. In 2015, Fasken Martineau prepared a long-term project agreement and advised during procurement. An announcement of a preferred proponent was made in January 2016, with a closing in April 2016. Interior Health Authority was advised by a Fasken Martineau team that was led by David Little and included Kareen Zimmer (Corporate/Commercial), KC Miu (Banking), Marcus Turner (Corporate/Commercial & PPP), Ann Madden (PPP), Jasmin Zeng (PPP & real estate) and Fergus McDonnell (construction & PPP).



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