Hospital Construction Update #2

Wednesday, December 12, 2018

Last week I sent an open letter to the community about our capital redevelopment project. I stated our frustrations with on-going delays, the actions we’ve taken so far and said that on Dec. 12, we would be in a position to act. 

I am pleased to say a path to getting our project back on track is developing. The lenders had exclusive rights to act until December 11. On December 6, they took action by bringing a receivership application before the courts.  A judge has now appointed a receiver to manage the affairs and business of Project Co.  The receiver has called on the performance bond, which will ensure our hospital’s project gets completed. This also means that the options CMH could have taken on December 12 are no longer available.

Critical discussions are now underway on how the project will get done. We anticipate these will continue over the next few weeks. Rest assured, we are pressing to get work going again on the project as soon as possible.

I will get back to you and the community again when we have more news to share.

Remain positive and know this is a good day for our hospital and community. Stay tuned!
 

Patrick

 

Patrick Gaskin
President & Chief Executive Officer
Telephone: 519-621-2333 ext. 2301
700 Coronation Blvd., Cambridge, ON  N1R 3G2
Twitter:  @CMH_CEO