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.

Your Comments

Read our comments policy here