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Assura buys primary care developer Apollo for undisclosed sum

Fri 19 February 2021 08:01 | A A A

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(Sharecast News) - Assura has bought primary care developer Apollo for an undisclosed sum.

The FTSE 250 primary care property investor and developer said Apollo has a strong, 20-year track record of developing high-quality primary care properties across the UK, with a very experienced four-person development team.

As well as expanding the Assura development team to 11 specialist surveyors, the deal increases the company's immediate and extended development pipeline by an initial eight schemes with an estimated total capital expenditure of £50m.

Chief executive officer Jonathan Murphy said: "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.

"Following our acquisition of primary care developer GPI in 2019, this is another important step in our growth story that further deepens our understanding of the future trends shaping the sector, from building design to sustainability."

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