(Alliance News) - Assura PLC on Friday said it has completed the acquisition of primary care developer Apollo Capital Projects Development Ltd.
Apollo develops care properties across the UK. Assura said the acquisition increases its immediate and extended development pipeline by an initial eight schemes with an estimated total capital expenditure of GBP50 million.
"The acquisition of Apollo will further enhance our sector-leading in-house development capabilities and substantially expand our pipeline, which is already the largest in our history," said Assura Chief Executive Jonathan Murphy.
"Expanding our offer to the NHS as its partner of choice has never been more vital than it is today. As Apollo's colleagues integrate into Assura, we look forward to working together to continue creating outstanding spaces for health services in our communities," added Murphy.
The FTSE 250-listed care property investor and developer did not disclose any financial details of the deal.
Assura shares were trading 0.3% higher in London on Friday at 73.40 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Assura (AGR)