Headline: Assura Completes £25 Million Asset Sale

LONDON - Assura plc, a leading UK healthcare real estate investment trust (REIT), has completed the sale of 12 properties, generating a total cash return of £25 million. The transaction aligns with the assets' book value and will partly repay the group's revolving credit facility.

The completed sale is part of a broader divestment strategy initiated after Assura's major acquisition of a £500 million private hospital portfolio in August 2024. The company is actively engaging in negotiations for additional divestments expected to amount to approximately £110 million. These negotiations involve a mix of portfolio sales and asset transfers to a previously announced joint venture partnership.

Moreover, Assura has identified a portfolio of 27 assets valued at approximately £90 million that meet the disposal criteria. Initial steps towards the potential sale of these assets have commenced. This strategic move aims to reduce the company's net debt/EBITDA ratio to below nine times and the loan-to-value (LTV) ratio to under 45% within the next 18 to 24 months.

Assura's CEO, Jonathan Murphy, expressed satisfaction with the recent transactions, highlighting their alignment with book value and underscoring the attractiveness of the healthcare asset class they represent. Emphasizing the significance of the August acquisition in diversifying Assura’s portfolio, Murphy noted that the divestment program is a crucial element in the company's commitment to deleveraging post-acquisition.

Investors can anticipate a detailed update on Assura's divestment program during the half-year results presentation scheduled for November 14, 2024. This strategic divestment initiative is part of Assura's ongoing efforts to optimize its portfolio and strengthen its financial position.