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DEALS & CASES

Interior Heart and Surgical Centre P3 reaches financial close

June 2012
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On June 22, 2012, the British Columbia Ministry of Health announced that construction of the new Interior Heart and Surgical Centre (IHSC) surgical building in Kelowna was one step closer with the signing of an agreement with Plenary Health Kelowna Limited Partnership to deliver the new facility.

The final agreement with Plenary Health is a fixed-price, performance-based agreement to design, build, partially finance and maintain the new facility. The total cost of the IHSC surgical building component is $169.1 million. Construction is expected to start in autumn 2012, with anticipated completion by early 2015. The centre is expected to be open to patients in mid- 2015.

The overall IHSC project includes the IHSC building, the Dr. Walter Anderson building, renovations to the existing Royal and Strathcona buildings and fit-outs in the new Centennial building. Approximate total investment is $367 million, with $70.7 million from the Central Okanagan Regional Hospital District.

Gowlings acted for the Plenary Health consortium, advising on corporate, partnership and British Columbia law, with a team that included Peter Fairey and Helena Plecko, assisted by student-at-law Lorena Vlad.

Gowlings also acted as project counsel for Johnson Controls Canada LP, a member of the Plenary Health consortium, with a team that included Darryl Brown, Faithe Holder, Samir Gassanov, Lindsay Wong and Scott Ferguson (infrastructure/real estate).


© 2014 Gowling Lafleur Henderson LLP. All rights reserved.