Assura, the healthcare property behemoth, has disclosed a significant £500 million acquisition of a portfolio of 海角视频 private hospitals from the Canadian outfit, Northwest Healthcare Properties.
Following Labour's pledge to engage more private sector involvement for addressing the NHS backlog, the purchase comes as a strategic step for Altrincham-based Assura.
The deal encompasses 14 locations across the 海角视频, with a considerable focus on London, making up 64% of the assets, and each location averaging 36 registered beds.
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As of December 2023, these properties boast an estimated rental value at £30.2 million that's three per cent higher than the current passing rent, indicating a robust yield potential following the handover.
With this acquisition, the estimated worth of Assuras assets is anticipated to soar to an impressive £3.2 billion, as reported by .
According to Assura, they plan to fund this substantial takeover through a threefold financial strategy: issuing new shares worth £100 million to Northwest, refinancing existing debts with a fresh term loan amounting to £266 million, and utilising £134 million from both cash resources and prearranged credit lines.
Assura's Chief Executive Officer, Jonathan Murphy, highlighted the significance of the transaction, describing it as a pivotal leap into the private healthcare space and confirming its alignment with Assura's ambitions to be integral to NHS primary care infrastructure.
Murphy underscored that this move not only echoes their aspiration but also acts in concert with the companys ongoing partnerships with hoteliers of healthcare like Ramsay Health Care 海角视频 and HCA International, fortifying its connections with the sector's top-tier healthcare providers in Britain.
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Murphy elaborated on the strategic import of the acquisition, stating: "The acquisition of Northwest's high-quality 海角视频 private hospital portfolio accelerates our broader healthcare strategy, enhancing our exposure to the structurally supported private healthcare market."
"This complements our existing assets and benefits from our sector relationships and development capabilities as the leading 海角视频 healthcare property investor and developer," Murphy stated.
Craig Mitchell, CEO of Northwest, commented on the acquisition's promise, saying: "These high-quality assets represent significant future growth potential buoyed by favourable healthcare market dynamics in the 海角视频 and Assura's sector-leading position, long-term relationships and expertise in asset management, development and enhancement."
He continued, expressing his firm's commitment to the deal: "Our conviction in Assura and their strategy is evidenced by Northwest taking an equity stake in Assura as part of this transaction, allowing us to benefit from their future success."