Hardman & Co Research
Hardman & Co Research: Step change, with MedicX Fund merger
PHP and MedicX Fund completed an all-share recommended merger on 14 March 2019. The latter is also a UK REIT, investing in assets similar to PHP, focused entirely on UK and Republic of Ireland (RoI) primary medical assets. These are localised hubs providing community-based GP surgeries and other closely related medical services. To date, PHP has expanded its presence strongly in this very specialist asset category. The complementary merger adds to capabilities for sourcing investments and enhances cost (fee- and finance-related) synergies, initially by a stated £4.0m p.a. 91% of PHP income is backed by the UK or RoI government. Occupancy consistently exceeds 99%.
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About Hardman & Co: For the past 21 years Hardman has been producing specialist research designed to improve investors' understanding of companies, sectors, industries and investment securities. Our analysts are highly experienced in their sectors, and have often been highly rated by professional investors for their knowledge. Our focus is to raise companies' profiles across the UK and abroad with outstanding research, investor engagement programmes and advisory services. Some of our notes have been commissioned by the company which is the subject of the note; this is clearly stated in the disclaimer where this is the case.
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