Acurity Health estimates building a new hospital on the Wakefield Hospital site which will meet current earthquake standards will cost between $45 million and $50 million.
Chief executive Ian England told the annual shareholders' meeting on Friday that replacing the existing Wakefield Medical Consultant Centre would cost about $10 million more.
He said the company expects to fund the development of both projects using its strong operating cash flows and bank debt.
The rebuilding costs, and their impact during the up to six years the projects are estimated to take, were a major reason cited by major shareholder, Mark Stewart, for his $112 million takeover offer in conjunction with the Royston Hospital Trust Board and Sydney-based Evolution Healthcare.
Together, the three shareholders already own nearly 71 percent of Acurity and they are offering $6.50 a share to buy the rest.
