August 28, 2008

Integrated Team Solutions is the preferred proponent for Woodstock, Ontario hospital

TORONTO

Woodstock General Hospital and Infrastructure Ontario has announced that Integrated Team Solutions (ITS) is the preferred proponent selected to build, finance and maintain the new facility that will replace the existing Woodstock General Hospital.

Woodstock General Hospital will be a new 178 bed facility, providing patients and staff with a high quality healing environment and the latest technology in bedside services and communications.

The request for proposals issued in January 2008 resulted in the selection of ITS as the preferred proponent. The ITS team includes EllisDon, LPF Infrastructure Fund, Honeywell, CIT, Sunlife Assurance Company, Canada Life and Industrial Alliance.

In the next few months, Infrastructure Ontario and the hospital will negotiate with ITS to finalize the terms of the project agreement and to reach commercial close.

Details about the agreement and the final project cost will be made public after financial close; the new hospital construction is expected to begin before the end of 2008.

“We are eagerly anticipating groundbreaking on the new site this fall,” stated Natasa Veljovic, President and CEO of Woodstock General Hospital.

“Our new hospital will allow us to expand programs, recruit new staff and physically improve our delivery of quality health care.”

DCN News Services

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