Opmedic to build new centre in Montreal

Opmedic Group (TSX:OMG) plans to build a new surgical and endoscopic centre on the South Shore of Montreal, which will have two operating rooms, one for day surgeries and one for endoscopy.  It will increase the number of operating rooms in Opmedic’s surgical business unit by over 25%, bringing the total number of surgical and endoscopic facilities to nine.

“The addition of this new surgery and endoscopic centre to the existing facilities confirms Opmedic Group’s leadership in the provision of private surgical services in Quebec and, through its Procrea division, in fertility services,” CEO Dr. Pierre St-Michel said in a statement.

“Demand for these services is growing constantly.  We also expect to see increased demand for fertility services as a result of the Government’s decision to cover the full cost of three in vitro fertilization treatments for Quebec couples,” he added.

The new centre will be built by a company that is 50% owned by Opmedic and 50% owned by companies controlled by health professionals.  Opmedic estimates the cost of its share of the project at about $3 million, over 85% of which will be financed through loans by the company that is owned jointly with its partners.  Construction is set to start next month and be completed in the fall.