Primary Health Properties PLC Acquisition (4733N)
January 23 2023 - 2:00AM
UK Regulatory
TIDMPHP
RNS Number : 4733N
Primary Health Properties PLC
23 January 2023
23 January 2023
Primary Health Properties PLC
("PHP" or the "Group")
Acquisition of Axis Technical Services Limited and signing of
long-term Development Pipeline Agreement in Ireland
Group further strengthens position in Ireland
Primary Health Properties, one of the leading investors in
modern primary healthcare facilities in the UK and Ireland,
announces that it has acquired Axis Technical Services Limited, an
Irish property management business, and signed a long-term
Development Pipeline Agreement providing access to a strong
pipeline of future primary care projects in Ireland.
Axis Technical Services Limited, currently manages a portfolio
of over 30 properties, including the majority of PHP's Irish
portfolio, and the acquisition gives the Group a permanent presence
on the ground, further strengthening its position in the country
and relationship with the Health Service Executive ("HSE"),
Ireland's national health service provider. The acquired company
also provides fit-out, property and facilities management services
to the HSE and other businesses located across Ireland.
As part of the acquisition, PHP has signed a Development
Pipeline Agreement with Axis Heath Care Assets Limited ("Axis"), a
related company owned by the selling shareholders, which gives the
Group the option to acquire Axis's development pipeline over the
next five years. Axis is one of Ireland's leading developers of
primary care properties having developed five properties over the
last five years which have been acquired by PHP. It also has a
strong pipeline of projects with an estimated gross development
value of EUR50m.
PHP currently owns a portfolio of 20 assets in Ireland valued at
EUR261m.
Harry Hyman, Chief Executive Officer of Primary Health
Properties, commented:
"We are delighted to have formalised PHP's long-standing
relationship with Axis, one of the leading developers of primary
care properties and the Group's partner of choice in Ireland.
"As PHP's portfolio in Ireland continues to grow, the
acquisition of Axis Technical Services Limited gives the Group a
permanent presence in the country which we believe is becoming more
important as we seek out new investment, development and asset
management opportunities and try to strengthen our relationship
with the HSE as the leading provider of modern, primary care
infrastructure in the country."
More information on Primary Health Properties PLC can be found
on www.phpgroup.co.uk
Further details:
Harry Hyman Richard Howell
Chief Executive Officer Chief Financial Officer
Tel: +44 (0) 7973 344768 Tel: +44 (0) 7766 072272
David Rydell / Jamie Hooper / H annah
Ratcliff / Verity Parker
(Buchanan Communications)
Tel: +44 (0) 20 7466 5066
Legal Entity Identifier: 213800Y5CJHXOATK7X11
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
ACQUUOKROAUAUAR
(END) Dow Jones Newswires
January 23, 2023 02:00 ET (07:00 GMT)
Primary Health Properties (LSE:PHP)
Historical Stock Chart
From Jun 2024 to Jul 2024
Primary Health Properties (LSE:PHP)
Historical Stock Chart
From Jul 2023 to Jul 2024