Member Article

Strong year of acquisitions for Warrington property developers Assura

Warrington property developer Assura, which specialises in care homes, has reported a strong year after completing an equity raise of £175 million, that has significantly strengthened the balance sheet and has enabled Assura to increase the scale of the business.

Assura has completed the acquisition of 20 properties for a gross consideration of £97.5 million since this raise.

The largest of these transactions was the purchase of 11 medical centres through the acquisition of the entire issued share capital of Metro MRI Limited for a gross consideration of approximately £63.1 million, with associated net debt of £44.3 million.

In addition Assura agreed the forward funding of four further medical centres to be developed by the vendors of Metro MRI Limited, which are expected to have an approximate value on completion of £21 million.

Graham Roberts, chief executive, said: “There has been a renewed emphasis from the NHS and politicians recently on addressing the chronic shortage of primary care space in the UK, and as Assura grows it is well placed to provide the infrastructure that is so necessary.”

This was posted in Bdaily's Members' News section by Clare Burnett .