Medicx Fund Regulatory News (MXF)

29 Nov 2006 12:50

The MedicX Fund Limited29 November 2006 For immediate release 29 November 2006 MedicX Fund Limited ("MedicX Fund", "the Fund" or "the Company") Acquisition - Major Expansion MedicX Fund, the specialist investor in modern purpose built primary healthcareproperties which on 2 November 2006 listed on the Official List of the LondonStock Exchange today announces that it has agreed to acquire three new completedprimary care properties from Oakapple Primary Care Group for £9.43 million incash. The three sites in Fleetwood, Bradford and Doncaster which generate£642,285 current income per annum in aggregate, have been valued by DTZ DebenhamTie Leung, valuers to the MedicX Fund, at £11.55m, net of 5.75% purchaser costs.The three new sites bring the total number of primary healthcare propertiesowned by the MedicX Fund to 16 in total. In addition, MedicX Fund has entered into a forward funding framework agreementto forward fund, properties developed by Oakapple Primary Care Partnership up toa minimum value of £50 million subject to available funds. Under the forward funding framework agreement Oakapple Primary Care Partnershipis required to exclusively offer properties to the MedicX Fund for a minimumperiod until 1st January 2009 which can be extended subject to agreement. Keith Maddin, Chairman of MedicX Group said "We are delighted to have completedthis acquisition with Leeds based Oakapple which represents a major expansionfor the MedicX Fund in the north of England and an exclusive pipeline of futureinvestment opportunities." The transaction was included within the MedicX Group's pipeline at the time ofthe MedicX Fund's prospectus and is expected to complete on 11 December 2006. End For further information please contact: MedicX Group +44(0) 1252 704 272 Keith Maddin, ChairmanMike Adams, Managing Director Buchanan Communications +44 (0) 20 7466 5000 Charles Ryland / Lisa Baderoon / Mary-JaneJohnson This information is provided by RNS The company news service from the London Stock Exchange