Primary Health Share News (PHP)

(ShareCast News) - Primary healthcare facilities investor Primary Health Properties announced on Monday that it has acquired two modern, purpose-built healthcare facilities for a total consideration of £7.2m.The London-listed company confirmed it has acquired the entire issued share capital of Carden Medical Investments, a company whose assets and activity is the ownership of the Cove Bay Medical Centre and the Pitmedden Medical Centre, both of which are located close to Aberdeen and serve nearly 20,000 patients.Cove Bay is fully let to a GP practice and the Scottish Ministers on leases that each have an unexpired term of 15.3 years.The Pitmedden Medical Centre is fully let to the Haddo Medical Group on a lease that has an unexpired term of 13 years.Primary Health Properties said the acquisition increases its portfolio to a total of 298 assets, including one property in the Republic of Ireland, with a gross value of more than £1.2bn."This acquisition adds to our portfolio of high quality, purpose built primary care facilities across the UK and enhances our sustainable, long term income," said managing director Harry Hyman."We have a strong pipeline and are well positioned to continue to grow our portfolio and support the UK's healthcare system with the provision of modern, primary care infrastructure."