Assura to raise £180m in share issue

HEALTHCARE centre developer Assura is to raise £180m on the public markets.

The Warrington-based group is raising £150m through a placing and open offer, and a further £25m through a share issue, with all shares priced at 43.5p.

Assura said the offer price represented a discount of 6.95% to the closing price of 46.75p on September 23.

It wants to use around £95m to fund the “near term” pipeline of acquisitions and developments, and pay off £55m of debt, reducing it to £482m.

Chief executive Graham Roberts said: “An ageing population, increasing expectations and rising long-term health conditions are intensifying demands on the NHS. GPs will need to play an ever increasing role in meeting future healthcare needs, but many currently operate in unsuitable and outdated space.  

“Assura, through its expertise, leading position and internally managed structure, is well placed to provide this required space. Today’s share issue allows us to build on this leading position, enhancing our strong portfolio and balance sheet and positioning us well for the future.”  

Assura has around 230 medical centres.