Assura plc

Last updated

Assura plc
Company type Public
LSE:  AGR
Industry Property
Founded2003;22 years ago (2003)
Headquarters
Altrincham
,
United Kingdom
Key people
Ed Smith (Chairman), Jonathan Murphy (CEO)
ProductsInvesting in healthcare property
RevenueIncrease2.svg£150.2 million (2024) [1]
Increase2.svg£129.5 million (2024) [1]
Increase2.svg£102.3 million (2024) [1]
Owner Primary Health Properties
Subsidiaries Assura Properties Plc; Assura Financing Plc
Website www.assuraplc.com

Assura is a British property business headquartered in Altrincham, Greater Manchester that has a focus on investing in buildings used for the healthcare sector. [2] As of June 2025, it owned and operates more than 600 general practitioner and primary healthcare buildings in the UK. [2]

Contents

The company was listed on the London Stock Exchange until it was acquired by Primary Health Properties in August 2025. [3]

History

The business was launched as The Medical Property Investment Fund in 2003 and became listed on the London Stock Exchange in that year. The name was changed to Assura Group in 2006. In 2008 the company bought new premises for expansion in Halton. [4] Assura sold its Assura Medical division to Virgin Group in 2010, which rebranded it as Virgin Care. [5]

It acquired AH Medical, another primary healthcare business, in 2011. [6] It named Graham Roberts, a former finance director of British Land Company, as chief cxecutive in March 2012. [7] In June 2012 it decided to convert to Real Estate Investment Trust (REIT) status. [8]

The company was the subject of an initial public offering on the London Stock Exchange in January 2015. [9]

In July 2016, Assura announced that its chief executive Graham Roberts had died of cancer. [10] The company appointed its financial director, Jonathan Murphy, as its interim chief executive and he was confirmed on a permanent basis in February 2017. [11]

At the beginning of 2021, the company acquired Apollo Capital Projects, increasing its pipeline by an initial eight schemes and expanding the company's offering to the NHS. [12]

In April 2025, the company's board initially agreed an acquisition offer by private capital investors KKR & Co. and Stonepeak of £1.6 billion. [13] On June 11, a month after receiving a competing bid from Primary Health Properties (PHP) of £1.68 billion, [14] KKR and Stonepeak made a final offer of £1.7 billion which was initially recommended by the Assura's board. [2]

When shareholders pressed and the firm recommended PHP's offer, [15] the deal was subject to regulatory and shareholder approval. [13] After the deal was approved by Assura shareholders on 12 August 2025, [16] PHP confirmed that its offer had gone unconditional with 62.93% acceptance on 15 August 2025. [17]

Operations

The business invests in and develops primary care buildings in the UK. [4] As of March 2024, the company's portfolio stood at 614 primary care medical centres. [1]

As an NHS partner the company accommodates NHS services within communities including, general practice, diagnostic and treatment services (including x-ray), renal dialysis, MSK physiotherapy, dentistry, acute consultant clinics and other community and social prescribing services. [18]

References

  1. 1 2 3 4 "Annual Report 2024" (PDF). Assura. Retrieved 9 February 2025.
  2. 1 2 3 Howard, Tom (11 June 2025). "Assura recommends KKR's raised £1.7bn offer". www.thetimes.com. Retrieved 12 June 2025.
  3. ↑ "Primary Health Properties Finalizes Acquisition of Assura PLC". ADVFN. Retrieved 18 September 2025.
  4. 1 2 Park office for healthcare specialist Assura
  5. ↑ "Assura founder quits after selling clinics to Virgin". The Times. 15 March 2010. Retrieved 6 December 2015.
  6. ↑ Eversheds scores sale of AH Medical to Assura Group
  7. ↑ Assura Group names former British Land Company director as chief executive
  8. ↑ Assura Group slides to a loss
  9. ↑ "London Stock Exchange welcomes Assura plc to celebrate its certification as the first FTSE 250 listed B Corp". London Stock Exchange. Retrieved 19 September 2025.
  10. ↑ "Place North West | Former Assura chief dies from cancer". Place North West. 4 July 2016. Retrieved 30 March 2017.
  11. ↑ Begum, Shelina (27 February 2017). "Assura names new chief executive". men. Retrieved 30 March 2017.
  12. ↑ Whiterow, Philip (16 February 2021). "Assura strengthens primary care pipeline with Apollo Capital acquisition". Proactive Investors. Retrieved 13 March 2021.
  13. 1 2 Oliver, Joshua (9 April 2025). "NHS landlord agrees £1.6bn takeover by KKR consortium". Financial Times. Retrieved 23 April 2025.
  14. ↑ Murray, Amber (16 May 2025). "PHP makes surprise third approach for Assura at £1.68bn". City AM. Retrieved 12 June 2025.
  15. ↑ Howard, Tom (23 June 2025). "NHS landlord Assura backs £1.7bn merger with rival PHP". www.thetimes.com. Retrieved 23 June 2025.
  16. ↑ "UK Primary Health Properties Fends Off KKR Bid for Landlord Assura". Live Mint. 12 August 2025. Retrieved 15 August 2025.
  17. ↑ "PHP's Acquisition of Assura Becomes Unconditional, Strengthening Market Position". Tip Ranks. 15 August 2025. Retrieved 15 August 2025.
  18. ↑ "Our Market". Assura plc. Retrieved 13 March 2021.
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