Assura agrees £63m medical centre deal
HEALTHCARE centre landlord and developer Assura has beefed up its portfolio with another acquisition.
The Warrington group has agreed a £63.1m deal for 11 medical centres in a transaction that sees it acquire Metro MRI from Ray Seymour and Alistair Blacklaws.
It is paying £9.1m in cash, £9.4m in shares and taking on £44.3m of debt. There are also costs associated with the deal of £300,000.
In June Assura agreed a £107m deal for 28 centres with another company owned by Ray Seymour and Alistair Blacklaws called MP Realty Holdings Group.
Assura has also agreed a £21m funding deal for the vendors of Metro to develop a further four centres.
The 11 new medical centres support 90 GPs and 115,000 patients. Their location was not disclosed. The deal takes Assura’s portfolio to 247 primary centres with a contracted passing rent of £52.9m.
Chief executive Graham Roberts said: “Following our successful fund raise last month, we are delighted to add 11 outstanding medical centre investments to the four schemes we announced earlier this week. In addition 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.”
Last month Assura raised £180m through a placing and open offer. It had earlier said it wanted to use around £95m to fund the “near term” pipeline of acquisitions and developments, and pay off £55m of debt, reducing it to £482m.
