Assura seals £120m joint-bank funding
WARRINGTON-based Assura has secured a new joint-bank £120m revolving credit facility, doubling the existing £60m bank club in support of the firm’s expansion drive.
Assura invests in and manages primary health properties across the UK with a current portfolio of more than 300 medical centres.
By utilising debt and equity capital together with support of the £1bn Primary Care Infrastructure Fund launched in Q1 2015, Assura has set out a continued programme of GP surgery acquisitions and improvements.
The joint-bank deal has been supported by NatWest, Barclays and HSBC. Assura has been a NatWest customer since 2003.
Jonathan Murphy, finance director at Assura, said: “The expansion of the business will see a number of surgeries purchased and modernised, creating efficiencies and transforming the level of patient care in local communities.
“It’s an exciting undertaking and having strong relationships with our banks has provided us with the flexibility needed to deliver the programme.”
Heath Thomas, head of real Estate Finance in Greater Manchester at NatWest, said: “Assura has been at the forefront of primary care investment for a number of years and we are delighted to support the business on its programme of modernising further properties, providing a vital resource to a wealth of communities.
“We have a good relationship with Jonathan and the management team which allows for us to deliver funding provision to meet their business aspirations. We wish the business every success for the future.”
