Four firms act on hospital PPP
The $630 million Bendigo Hospital Public-Private Partnership has reached financial close.
Firms: DLA Piper (Lend Lease Project Management and Construction); Clayton Utz (Victorian Government); Minter Ellison (Spotless – FM contractor); Herbert Smith Freehills (Exempla Healthcare – project company)
Deal: The financial close of the Bendigo Hospital Public-Private Partnership (PPP)
Area: Project finance
Value: $630 million
Key players: The DLA Piper team was comprised of partner Alex Guy (pictured), senior associates Jose de Ponte and Kim Broadbent, and solicitor Fleur Irvine. The Clayton Utz team was led by construction and major projects partner Jo Pugsley and special counsel Sarah Neaves, with support from project finance partner Dan Fitts. The core Herbert Smith Freehills team was led by partners Josh Sgro (overall lead) and Erin Wakelin (finance). Lawyers supporting the transaction for HSF included senior associates Chris Munro and Erin Wyeth, and solicitors Cassidy Prent, Chris Floreani and Joyce Cunningham
Deal significance: The project will be delivered in partnership with state government body Bendigo Health and will involve the redevelopment of the existing Bendigo Hospital site. It is scheduled to be completed in 2016 and will be the largest regional hospital development in Victoria and one of the largest in Australia. The new hospital will offer world-class facilities such as a helipad, a regional integrated cancer centre, a purpose-built 80-bed mental health facility, an integrated women's and children's facility, additional acute inpatient beds and acute same-day beds, additional operating theatres, and expanded research and education facilities. Alex Guy commented: "We are proud to have advised Lend Lease Project Management and Construction on this innovative PPP, which will provide significant benefits for the Bendigo community and the Loddon Mallee region ... This brings to six the number of PPP projects that DLA Piper Australia has successfully brought to financial close in the last two years."