Bilfinger Berger closes €340m Canada healthcare project

Developer Bilfinger Berger has reached financial close on a public-private partnership project in the Canadian healthcare sector. The total value of the project is estimated at €340m with a concession period of 30 years.

German developer Bilfinger Berger has reached financial close to design, finance, construct and operate the new Women’s College Hospital in Toronto, the company said in a statement.

The public-private partnership (PPP) agreement has an investment volume of €340 million, out of which Bilfinger Berger is making an equity investment of €27 million.

The healthcare project is wholly owned by Bilfinger Berger Project Investments and sponsored by the Ontario Ministry of Health and Long Term Care.  The hospital is expected to be completely rebuilt at its existing location with the addition of a new underground parking facility.

The work is expected to be carried out in phases stretching over a period of five years in order to ensure that the hospital remains fully functional.

Bilfinger Berger has previously invested in a number of concession projects in the Canadian market. The company finances and operates highways and hospitals in Canada with a total volume of €2.5 billion and an equity investment of €122 million.

The company’s privately financed portfolio overall comprises 29 projects with a total investment volume of €7.6 billion and an associated equity commitment of €407 million.