Acquisition

RNS Number : 0026Y

The MedicX Fund Limited

23 February 2012

 



For immediate release

23 February 2012

MedicX Fund Limited

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

Acquisition of five completed properties

MedicX Fund, (LSE: MXF), the specialist primary care infrastructure investor in modern, purpose-built, primary healthcare properties in the United Kingdom, is pleased to announce it has completed the acquisition of five completed and fully let primary care medical centres in Grimsby, Ilkeston, Middlesbrough, Saltburn-by-the-Sea and Skelton. 

The purchase is by way of a corporate acquisition and the total consideration for the properties is £20 million, less debts owed by the acquired company.  The Fund intends to refinance the debt shortly from its existing facilities.

The MedicX Fund's total property portfolio now comprises 70 properties throughout the United Kingdom of which 61 are complete and 9 are under construction. The annualised rent roll for all properties is now £17.1 million.

David Staples, Chairman of MedicX Fund, said: "We are very pleased to have completed this acquisition of five modern purpose-built primary healthcare properties which meet with the Fund's long term investment strategy."

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For further information please contact:

MedicX Group                                                              [phone]

Keith Maddin, Chairman

Mike Adams, Chief Executive Officer

Mark Osmond, Chief Financial Officer

MedicX Fund                                                                [phone]

David Staples, Chairman

Collins Stewart Europe Limited                                       [phone]

Andrew Zychowski/Helen Goldsmith

Buchanan Communications                                            [phone]

Charles Ryland/Suzanne Brocks

Information on MedicX Fund Limited

MedicX Fund Limited ("MXF", the "Fund" or the "Company", or together with its subsidiaries, the "Group") is the specialist primary care infrastructure investor in modern, purpose-built primary healthcare properties in the United Kingdom, listed on the London Stock Exchange, with a portfolio comprising 70 properties.

The Investment Adviser to the Company is MedicX Adviser Ltd, which is authorised and regulated by the Financial Services Authority and is a subsidiary of the MedicX Group. The MedicX Group is a specialist investor, developer and manager of healthcare properties with 26 people operating across the UK.  

The Company's website address is www.medicxfund.com.  Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website), nor the contents of any website accessible from hyperlinks within this announcement, are incorporated into, or forms part of, this announcement.

 

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