Assura in exclusive talks to sell GP business
WARRINGTON healthcare provider and property group Assura has said it is in exclusive talks to sell its GP business.
The company announced in November that it intends to split the business – where Assura partners with groups of GPs to form joint venture provider organisations – from the rest of the group so it can refocus on its core pharmacy and property businesses.
Last month, the company also said it was in takeover talks for the core business, and today it confirmed those discussions were ongoing.
The trading update also showed that group revenues for the nine months ended 31 December 2009 have risen to £42.2m from £35.6m.
Assura added that it has repaid £8.5m to National Australia Bank, reducing the debt outstanding to £160m ahead of the March 2010 deadline.
It is due to repay a further £30m to NAB by March 2011 and has already agreed terms with Santander for a new £30m five year debt facility, allowing it to pay NAB the remaining £30m by the deadline.
