NEW! Investment Companies Centre

Assura wants £80m to fund GP business

Related Companies

Related Indices

Related Sectors

News for Spread Betters

PreviousPrevious
NextNext

There's a new Investor Edition of CMC Markets' spread betting platform... and it's exclusive to DigitalLook.com users...

Get full details about Marketmaker:Investor Edition here. Advertisement

Date: Tuesday 07 Oct 2008

LONDON (ShareCast) - Assura is raising up to £80m to finance its transformation from a medical property investor and developer to a GP focused healthcare group.

It said £30m will come from a placing of shares at 37p each, 10% below last night’s closing price, and £50m from 11 new long term loans to be secured on property assets and developments.

“The board has adopted a focused business plan to concentrate resources on its medical operating business and GP Provider Companies and will utilise the funds raised to implement this plan,” it said in a statement Tuesday.

Bosses intend to distribute cash to shareholders from the net proceeds realised from the planned disposals of certain property and pharmacy assets by way of special dividend.

“With this increased financing package, Assura will be very well positioned to take advantage of the exciting new opportunities as the Government further opens up the provision of NHS primary care services to the private sector,” said chief executive Richard Burrell.

Digital Look have been voted
"Best Research and Information Provider"

4th Floor, Bankside House, 107 Leadenhall Street, London EC3A 4AF.
Registered in England and Wales (registered no. 3678570).