The Plenary Health consortium has achieved financial close on the single largest health infrastructure investment in the State of Victoria, the $1.5 billion new Footscray Hospital.
The new Footscray Hospital will replace the current aging hospital. It will have the capacity to treat an additional 15,000 patients and enable 20,000 more people to be seen by the emergency department each year.
Moreover, the new hospital will contain a range of specialist facilities including operating theatres, recovery and clinical support spaces along with ample car parking.
The new Footscray Hospital is being delivered as a public-private partnership (PPP), with Western Health as the public operator of all clinical services and Plenary Health contracted by the Victorian Government to finance, design, construct, and maintain the hospital for 25 years following the completion of construction.
The Plenary Health consortium comprises: Plenary Group as sponsor, investor and asset manager; Multiplex as builder; Honeywell and Compass Group as facility services providers; and Sojitz Corporation as investor.
An integrated design team is led by Cox Architecture and Billard Leece Partnership.
Plenary Chief Investment Officer, Paul Crowe, said it is a rare privilege to deliver such a significant project, one that will ultimately transform access to health services in Melbourne’s west.
“In bringing this project to life, the community has always been our focus and we look forward to delivering this hospital for patients and families, for staff, and the people of the western suburbs.”
“We look forward to working closely with the Victorian Government and Western Health to deliver this much-needed and critical piece of health infrastructure,” he said.
Equity financing is provided by Plenary (70 per cent) and Sojitz (30 per cent).