Approved acquisitions

RNS Number : 8679D

The MedicX Fund Limited

30 March 2011

 



For immediate release                                                                                                     30 March 2011

MedicX Fund Limited

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

Approved acquisitions

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 approved the acquisition of seven medical centres totalling £24.9 million on a forward funding basis.  These acquisitions are in line with the Company's strategy and on completion will add a total of £1.6 million to the annualised rent roll.

The Company expects to contract these acquisitions over the next six months and all the projects to be completed by December 2012.  An announcement will be made at the time each acquisition is contracted.  On completion of all approved projects the MedicX Fund's total property portfolio will comprise 66 properties throughout the United Kingdom taking the total committed investment to £261.8 million with an annualised rent roll for all properties of £15.9 million. 

David Staples, Chairman said "Following our successful fundraising earlier this month, when the Company raised £34 million, we are very pleased to be able to put equity to work quickly by agreeing to approximately £25 million of acquisitions of new medical centres". 

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For further information please contact:

Buchanan Communications                                              [phone]

Charles Ryland/Suzanne Brocks

MedicX Group                                                                [phone]

Keith Maddin, Chairman

Mike Adams, Chief Executive Officer

Mark Osmond, Chief Financial Officer

MedicX Fund                                                                  [phone]

David Staples, Chairman

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 58 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 30 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) are incorporated into, or forms part of, this announcement.

 

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