Financial close reached on New Royal Adelaide Hospital transaction

InfraRed Capital Partners is delighted to announce that financial close has been reached on the high-profile New Royal Adelaide Hospital (NRAH) transaction. InfraRed is the largest equity investor in this transaction’s consortium, which will see the existing, ageing Royal Adelaide Hospital replaced with a new, state-of-the-art hospital. The client, the South Australian State Government, intends the new hospital to be the largest educational hospital in South Australia:

“The new hospital is an investment in additional capacity with 800 beds (700 multi-day beds and 100 same-day beds) over 9 storeys, and a minimum of 2,300 car parking spaces. It will offer more operating theatres and procedural rooms, more intensive care beds and a significant increase in emergency care thereby providing an overall 30% increase in capacity for patients throughout the hospital.”

The consortium will design, construct, finance, operate and maintain the hospital for 35 years with an expected 5-year construction phase and 30-year operational period.

Sébastien Pochon, Director, Infrastructure, InfraRed, commented:

“This is a large project with over AU$100m of equity committed by us. It highlights InfraRed’s commitment to the Australian PPP market, as demonstrated by our earlier investment in the Victoria Desalination project. The team is looking forward to leveraging its extensive experience, gained from over 40 infrastructure development projects, for the benefit of this challenging and exciting project.”