South Niagara Hospital Project

On February 2023, EllisDon Infrastructure Healthcare (EDIH) reached commercial and financial close on the $3.6 billion South Niagara Hospital project. The consortium was recently selected by Infrastructure Ontario and Niagara Health to design, build, finance, and maintain the South Niagara hospital to be located in south Niagara Falls at the corners of Montrose and Biggar roads. The financing comprised a $476 million senior secured bond issuance and a $560 million senior revolving credit facility. 

The EDIH consortium is comprised of applicant leads EllisDon Capital Inc. and Plenary Americas LP, design team Parkin Architects Ltd. and Adamson Associates Architects, construction team EllisDon Corporation, and financial advisor EllisDon Capital Inc.

This new hospital will expand Niagara’s healthcare capacity and services to the entire region through offering infrastructure with advanced healthcare technology. This site is LEED Silver-certified and is currently working towards being the first WELL-certified hospital in Canada though its innovative design elements. The hospital also will incorporate an Indigenous healing space and garden, based on input from Indigenous partners, thus contributing to making the hospital a safe and welcoming environment.

Construction is expected to begin in July 2023 and substantial completion is expected in early 2028.

Osler acted for EllisDon Infrastructure SNH General Partnership, EllisDon Capital Inc. and Plenary Americas LP with a team led by Chris Bennett (Financial Services) and supported by Marta Rochkin and Maddy Blouin (Financial Services), Tobor Emakpor (Commercial), Michael Innes and Sandra Malcolm (Capital Markets) and John Groenewegen (Corporate).

McCarthy Tétrault advised Infrastructure Ontario with a legal team consisting of Laura Alford, Niusha Arbabi, Carrie Fleming, Puneet Kohli, William Loumankis, Cynthia MacDougall, Kate McNeil-Keller, Tristan Musgrave, Brad Nicpon, Belinda Schubert, Godyne Sibay, Gordon Willcocks.

Stikeman Elliott acted for a syndicate of lenders (National Bank of Canada, Bank of Nova Scotia, Bank of Montreal, The Korea Development Bank, Toronto-Dominion Bank) and the underwriters (National Bank Financial Inc. and Scotia Capital Inc.) in connection with a hybrid bank/bond financing for EllisDon’s DBFM of the new South Niagara Health Hospital project. Stikeman Elliott’s legal team consists of Jamie Templeton, Chris Chu, Brian Reigh, Mark McElheran, Shawn Blundell, Tara Watson, Jalen Nordmark (Banking and Finance).