The report estimates that supply-side spending needs to double from recent levels of about $22 billion a year, while consumer spending needs to reach $13 billion a year.

Once complete in 2028, the 15-storey tower will add 82 patient beds and 20 operating rooms.

The towns reached an agreement with low-bidder Kenaidan, the terms of which see the contractor maintain its bid price until April 15. 

Approximately 6,000 square feet will be renovated and 1,000 square feet will be added to Trenton Memorial Hospital for a new emergency department.

Fero International will use the funding bring its cost-effective, hospital-grade modular medical infrastructure to market.