Last checked at 15 Mar 2010 14:18
| For Immediate release | 15 March 2010 |
Assura Group Limited ("Assura" or "the Company")
Directorate Changes
Assura Group announces that it has accepted the resignation of Richard Burrell, Chief Executive Officer and that Nigel Rawlings, currently Chief Financial Officer of Assura, has been appointed as Chief Executive Officer.
Richard Burrell founded Assura Group in October 2003 and led its flotation on the London Stock Exchange and the growth and development of the Company since that time. It is now one of the largest owners of primary care property in the UK, with a top quartile performing property portfolio, a network of health centre-based pharmacies and a leading position in the NHS LIFT market.
Over recent months, Richard led the successful sale of a 75.1% stake in the Company's medical services business, Assura Medical Limited, to Virgin Healthcare, a member of Sir Richard Branson's Virgin group of companies. Assura is now focussed on unlocking value in its property and pharmacy businesses, reducing its cost base and resuming dividend payments. With that in mind and having successfully secured the future of the medical services business, Richard considers it appropriate for him to pursue opportunities outside Assura.
Rodney Baker-Bates, Chairman of the Board of Directors, commented: "The Board of Assura wishes to express its gratitude to Richard for his vision, commitment and enthusiasm over the past six years and extend its best wishes to him for the future."
Assura's non executive director, Clare Hollingsworth, will now join the Board of Virgin Healthcare to represent the Company's 24.9% interest in that business.
Ends.
Enquiries:
Louise Bathersby: Assura Group, 020 7107 3800
Ben Atwell, Ben Brewerton, John Dineen: Financial Dynamics, 020 7831 3113