New Melton Hospital

Australia

In October 2024, the Victorian State Government and Exemplar Health consortium achieved Financial Close on the contract to deliver the New Melton Hospital project (NMH or the Project).

The hospital will support the growing and diverse communities in Melbourne’s outer-Western suburbs, where demand for acute health services is projected to more than double over the next 20 years, with some residents of the area currently travelling over an hour to receive specialist treatment.

The Exemplar Health consortium comprises: • Capella Capital as lead sponsor, investor, financial advisor, and asset manager • Invesis Coöperatie U.A as investor • Lendlease as design and construction contractor • Honeywell as the ‘hard’ facilities management services contractor • Compass as the ‘soft’ facilities management services contractor

The Project is being procured by the Victorian Health Building Authority on behalf of the Victorian State Government as an availability-based PPP, involving the design, build, finance, non-clinical services, and maintenance for a new public hospital in Melton.

The hospital will initially provide 274 beds over a range of medical, surgical, emergency, mental health services, and ambulatory care. Clinical operations will be undertaken by Western Health, set to commence in 2029 when the hospital opens.

NMH will be Victoria’s first all-electric hospital, supporting the State’s emissions reduction target of net zero emissions by 2050. The Project is the largest non-recourse greenfield infrastructure project financing undertaken in Australia in 2024. Capella Capital, as financial advisor to the Exemplar Health consortium, developed a market-leading finance solution through a period of interest.