Monitoring Notice Withdrawn from Hospital Infrastructure Partners (NOH) Partnership at the Oakville-Trafalgar Memorial Hospital

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Hospital Infrastructure Partners (NOH) Partnership (“Project Co”) announced today that the Monitoring Notice issued by Halton Healthcare Services Corporation (“HHS”) relating to building systems’ issues at the Oakville-Trafalgar Memorial Hospital has been withdrawn by HHS. Project Co has been working closely with HHS to resolve all outstanding issues.

“We are pleased to have this Monitoring Notice lifted,” said Marco Di Carlantonio, Executive Director. “We take the operational integrity of our projects very seriously and continue to work diligently, in co-operation with the hospital, to ensure that all of the required repairs are made in a prompt and complete manner.”

Hospital Infrastructure Partners (NOH) Partnership, a consortium led by Fengate Capital, EllisDon and Carillion, was awarded the contract by HHS to design, construct, finance and manage the facilities of the Oakville-Trafalgar Memorial Hospital. The project reached substantial completion on July 31, 2015 and opened on December 13, 2015. After opening, the Hospital experienced some building systems’ issues and, as a result, on April 13, 2016, HHS issued a Monitoring Notice, which required Project Co to take additional remedial measures. Since the Hospital opened and throughout the period of the Monitoring Notice, the Hospital operations have continued uninterrupted and services provided by the Hospital have not been disrupted.

With the lifting of the Monitoring Notice, HHS has indicated that it is satisfied with the action plan being implemented by Project Co to address these issues. “We will continue to communicate regularly with all of our key audiences, including the Hospital, bond holders, rating agencies and other stakeholders, to ensure that they are aware that the action plan is  on track to resolve these operational issues,” stated Mr. Di Carlantonio. “The timely and absolute resolution of these issues remains our number one priority.”