Acquisition Update

RNS Number : 5566V

The MedicX Fund Limited

13 July 2009

 



For immediate release                                                                                                             13 July 2009

MedicX Fund Limited

('MedicX Fund', 'the Fund' or 'the Company')

Acquisition update

MedicX Fund, (LSE: MXF) , the specialist primary care infrastructure investor in modern, purpose-built, primary healthcare properties in the United Kingdom, today announces an update on acquisition progress.

In its interim announcement on 28 May 2009, the Fund announced that it had agreed to enter into two forward funding arrangements with a combined investment of £15.2 million. As previously reported, the forward funding agreement for the Abergele property has been completed and development of this property with a total acquisition cost of £3.3 million is due to complete in December 2009. Having agreed terms for the acquisition of the second of these properties, at St Annes, for a total acquisition cost of £11.9 million the vendor has subsequently decided to retain the property.  

The Fund is in advanced negotiations regarding the purchase of a number of properties and will advise on completion of any acquisition in due course.

The total property portfolio comprises 46 properties throughout the UK of which two are under construction.   

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For further information please contact:

MedicX Fund                                                                 [phone]

David Staples, Chairman                     

MedicX Group                                                               [phone]

Keith Maddin, Chairman

Mike Adams, Managing Director

Buchanan Communications                                             [phone]

Charles Ryland / Mary-Jane Johnson / Miranda Higham

 

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