SACYR, S.A. 08/04/2015
Sacyr, through its subsidiary Sacyr Concesiones, and Dominion, through its parent company Global Dominion Access, have reached a deal to jointly undertake the project to build and operate Antofagasta Hospital (Chile) under a concession regime.
As a result, Dominion has acquired 30% of the concession company from Sacyr, while Sacyr will hold a 70% stake. The transaction amounts to 5.566 billion pesos (7.9 million euros) and Dominion will take on the proportional part of the concession company's guarantees.
The Antofagasta Hospital project includes the design, construction, provision of the medical equipment, clinical and non-clinical furniture, industrial equipment and the infrastructure's furniture, the technological infrastructure service (SIT), the information and communications system (SIC) and the operation of the basic, mandatory special and supplementary services for 15 years (infrastructure maintenance and replacement of medical equipment, among others). All the clinical services will be managed by the Antofagasta Health Service, which is responsible for running the hospital. Around 250 million dollars (226 million euros) will be invested in the hospital. The construction works are in progress and is expected to be completed at the end of 2016.
Last year, the Antofagasta Hospital contract was named Healthcare Deal of the Year in public-private cooperation by the prestigious publication World Finance
It will be the biggest hospital in Chile, with an area of 122,000 m2, and will serve 350,000 people: 671 beds, an auditorium, a heliport, 45 examination rooms, 24 emergency rooms, 16 dental care rooms and 18 surgical wards with high complexity. It will have the latest technology in terms of construction and equipment (medical, computer system, etc.).
The design includes all the safety measures that will make it the reference hospital for northern Chile so that, in the event of natural disasters, it can continue to function on its own. Such measures include providing seismic isolation for the entire building and building it at 30 meters above sea level, which is the safety height in the event of a tsunami.
This transaction forms part of Sacyr Concesiones' strategy to open up its concessions to partners, thus maximizing asset profitability and raising capital to undertake new concession projects (greenfield), where Sacyr is the worldwide leader.
Over the last six years, Sacyr has delivered 18 hospitals with an investment of over 1.81 billion dollars and 1.38 million square meters of hospital construction in Spain, Portugal and Angola. Among the delivered hospitals, six (not counting Antofagasta) are managed by Sacyr under concession and involving various contract models, none fewer than 30 years, which is a measure of the company's expertise as well as its technical and human capacity.
For Dominion, this transaction reinforces its position as a core partner in large construction and operation projects in the healthcare, environmental, industrial, civil defense, transport and education areas, where its broad technological and sector knowledge and its capacity for comprehensive management and product and process innovation make it a worldwide benchmark.
In the last few years, Dominion has equipped seven hospitals in Chile, Argentina and Honduras, being responsible for both their medical and clinical equipment and their technological infrastructure (ICT). It has also provided software solutions to different hospital areas such as pharmacy, dietetics and nutrition, where it is a nationwide and international leader.
Dominion has been present in Chile for the last 10 years and, among others, it has carried out several benchmark projects such as the comprehensive fit-out of the La Reina Military Hospital in Santiago and the recent deployment of the anti-tsunami system in Arica (northern Chile).
Sacyr Concesiones Chile currently manages an investment of 2.3 billion dollars through 7 public works concession contracts with committed equity of 400 million dollars. The concession contracts currently under construction are: La Serena-Vallenar (187 km); La Serena- Ovalle (85 km); Accesos a Iquique (80 km), the first section of which was commissioned on November 4; Concepción-Cabrero (103 km); Américo Vespucio Oriente (9 km) and Antofagasta Hospital (671 beds). We must also include the Vallenar-Caldera section (227 km), which has been in operation since 2011. Sacyr is the leading construction and concession company in Chile through Sacyr Chile and Sacyr Concesiones Chile, respectively.
Sacyr Concesiones encompasses Sacyr's infrastructure concessions business and has more than 30 assets spread over six countries (Spain, Portugal, Chile, Italy, Ireland and Peru) in the sectors of highways (almost 3,000 kilometers), transport hubs, hospitals (over 3,000 beds), subway lines and airports.
Dominion, which is majority owned by Grupo Cie Automotive, has a stable presence in 28 countries and its 6,000 employees serve more than 1,000 clients. Its revenues are expected to be 500 million euros in 2015. In the current context, where the digital revolution is altering the status quo in all the economic sectors, Dominion is focusing on converting all the data flow into intelligence at the service of operational efficiency. It combines knowledge and technology based on smart innovation and provides multi-sector solutions and services so that its clients' production processes are more efficient.
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