Assura expands with portfolio purchase

The Warrington-based primary care developer and investor has acquired a portfolio of 11 medical centres for £63.1m.

The acquisition will be completed through the purchase of Metro MRI from directors Ray Seymour and Alistair Blacklaws for £18.5m, assuming a net debt of £44.3m.

The 11 centres have an average value of £5.7m, and support 90 GPs servicing around 115,000 patients in England and Wales.

Assura also agreed a funding deal which will see Metro develop four further medical centres on behalf of Assura, which are expected to have a value on completion of £21m.

Assura's medical portfolio now stands at 247 primary care centres, with a rent of £52.9m.

Last month the developer announced that it had raised £180m through its latest share issue, to fund the development and acquisition of new primary healthcare properties.

Graham Roberts, chief executive of Assura said: "We are pleased to continue our association with the vendors, securing a further four new high quality schemes, with exceptional lease lengths, which they will develop on our behalf."

Assura share prices were down 0.25p this morning to 49.75p.