Allens has advised the financier group to the Exemplar Health Consortium, led by Capella Capital, on financial close of a public-private partnership to deliver the Frankston Hospital redevelopment.
The project proposes to add a new hospital tower, an additional 120 beds, new operating theatres, enhanced emergency department beds, expanded women's and children's health services, enhanced oncology services and mental health services.
'Following on from the delivery of the Footscray Hospital redevelopment last year, the transaction provides further proof as to how the PPP model can spur significant private sector investment and innovation to deliver another new world class health facility for Victoria which is so vital for the State as it navigates through the next phase of the COVID-19 pandemic,' said lead Partner and Head of Project Finance, Michael Ryan.
'We are proud to have advised the lenders and worked alongside the sponsors on a project that will bring significant benefit to the local Frankston and Mornington Peninsula community and Victoria generally. Congratulations to the lenders and sponsors on achieving completion.'
