Construction will be carried out by its building arm Morrison Construction with Morrison Facilities Services providing maintenance services.
Chief executive Greg Fitzgerald said: "The financial close of this project underlines Galliford Try's position as a leading PPP player in the health sector across the UK. We look forward to working with NHS Fife to deliver a modern, high quality healthcare service for the community."
The hospital and health centre will bring together GP practices, in-patient, out-patient, Dental and Social Work services.
Work will start on site in December 2007 and is expected to complete in June 2009.