Value for Money Report Released
TORONTO- Minister of Public Infrastructure Renewal David Caplan and Deputy Premier and Minister of Health and Long-Term Care George Smitherman joined hospital officials, community members and health care partners today to celebrate the official start of construction of the new Runnymede Healthcare Centre. The new hospital will replace the older facility and will be built on the existing Runnymede Healthcare Centre site.
“I am pleased to see construction underway on Runnymede Healthcare Centre's new facility,” said Caplan. “This project demonstrates our government's commitment to provide resources and facilities to serve the health care needs of people across Ontario.”
“Today is an exciting day as we move forward with building a brand new hospital here at Runnymede Healthcare Centre,” said Smitherman “Local residents will soon benefit from the expanded services and modern facilities this new hospital has to offer.”
Construction of the new Runnymede Healthcare Centre is expected to be completed in summer 2010.
Once completed, the state-of-the-art hospital will provide complex continuing care to adults of all ages and more than double the number of beds from 95 to 200, reducing wait times for clinical and medical services. Enhanced services will include a full range of therapeutic services such as physiotherapy, occupational therapy, communication and swallowing therapy, audiology services, respiratory therapy, customized dietary programs, recreation therapy and social services.
The building team, led by Bondfield Construction Company Ltd., includes financing by the Ontario Teachers' Pension Plan, which was arranged by National Bank Financial. The deal commits Bondfield to build and finance the hospital's redevelopment project for $63 million, which will be paid only when construction is completed.
KPMG LLP completed a value for money (VFM) assessment and projected an estimated $10.8 million in savings compared to the estimated cost using a traditional procurement model.
The VFM report is available on Infrastructure Ontario's website along with the project agreement. The VFM report provides a summary of the project costs, including the cost of the contract with Bondfield Construction Company Limited, transaction costs and other ancillary costs.
“This project will allow our staff to provide the specialty care our patients require within a state-of-the-art facility,” said Connie Dejak, President & Chief Executive Officer, Runnymede Healthcare Centre. “The agreement with the builder will ensure that our hospital redevelopment reflects the highest standards in the agreed timeframe for a fixed price.”
Infrastructure Ontario is working with the Runnymede Healthcare Centre to build the replacement hospital, which will remain publicly owned, publicly controlled and publicly accountable. Infrastructure Ontario is a Crown corporation dedicated to managing some of the province's larger and more complex infrastructure renewal projects - ensuring they are built on time and on budget.
This project is guided by principles outlined in the province's Building a Better Tomorrow framework, which ensures public ownership of core assets such as hospitals, schools, and water and wastewater facilities.
Visit www.infrastructureontario.ca for more information.
Contacts:
Amy Tang
Minister's Office
Public Infrastructure Renewal
416-325-4048
Jennifer Sclisizzi
Infrastructure Ontario
416-325-7409
Connie Dejak
Runnymede Healthcare Centre
416-762-7316, Ext. 220