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North Island Hospitals Project

The North Island Hospitals Project is a Public-Private-Partnership between the Tandem Health Partners consortium and the Vancouver Island Health Authority, which delivered two acute-care facilities providing service to Vancouver Island’s Comox Valley and Campbell River as well as the surrounding communities.

The Project was procured under the ‘design, build, finance and maintain’ model and commenced construction in July 2014. Construction was completion in 2017 and the Project operates under a 30-year operating contract. The Project is expected to meet energy and greenhouse gas emission targets under the B.C. Climate Action Plan and is being financed in part through the issuance of “green” bonds, the first such debt financing for a public-private infrastructure project in North America.

Investment Highlights:

  • High quality counterparties
  • Stable cash flow
  • Long duration investment
  • Limited construction and operational risk
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