John Laing acquires stake in Centre Hospitalier de l'Université de Montréal PPP project
John Laing Group (John Laing), a leading international investor and active manager of core infrastructure assets, today announces that it has agreed to acquire a twenty-five per cent stake in the Centre Hospitalier de l'Université de Montréal (CHUM) public-private partnership (PPP) project from Obrascón Huarte Lain, S.A. (OHLA). The acquisition is subject to satisfaction of necessary conditions and approvals and is expected to complete in H2 2024.
The CHUM project reached financial close in 2011 and has been operating since 2017. It is one of the largest hospitals in North America, featuring 772 private patient rooms, 39 operating theatres and 415 examination rooms.
The transaction marks John Laing’s re-entry into the social infrastructure sector in Canada and builds upon John Laing’s extensive track record in developing modern healthcare facilities in North America, Europe, and Australia.
The acquisition will further increase John Laing’s global healthcare portfolio, which includes the Valley Healthcare primary care centre platform in Ireland, and recently acquired UK PFI projects - Queen's Hospital in Romford and the Oxford John Radcliffe Hospital.
Andrew Truscott, Chief Executive Officer of John Laing said: “John Laing is thrilled to have reached an agreement to acquire a twenty-five per cent interest in CHUM and to partner with Innisfree and AtkinsRealis on a critical infrastructure asset. This investment adds to our presence in Canada, which remains a very important geography for us”.
Anthony Phillips, Global Head of PPP and Head of Americas at John Laing said: “This will be a significant PPP acquisition for John Laing in a country where we have a long history in building world class healthcare facilities alongside the Canadian Government. We will be joining a strong consortium as part of Health Montréal Collective and look forward to working with CHUM to provide high quality medical facilities and services to the people of Montreal and broader Province of Quebec.”
John Laing was advised by McMillan LLP, KPMG LLP, Turner & Townsend, Infrata, Aon, ERM and Mazars.
OHLA was advised by Baker McKenzie LLP and Rubicon Capital Advisors.
