Cathedral Healthcare sells nine facilities to PHP

Of the nine centres being acquired, three are still under construction and are anticipated to be completed by the end of 2007. In addition, two of the completed facilities are undergoing extension work, which is anticipated to be completed at the same time.

An initial payment of £31 million will be paid on completion of contracts, with the balance to be satisfied once the development work on all the facilities is finished. The nine sites are; St George’s Medical Centre (Sheerness), Hetherington Group Practice, (London), Hailey View Surgery (Hoddesdon), St. Stephen’s Gate Medical Centre (Norwich)

Robin Hood Lane Health Centre (Sutton), Milton Keynes Medical Centre (Milton Keynes) and Oxted Therapies Unit (Oxted). The two uncompleted centres are the Sheerness Medical Centre in Sheerness and the Dumbledore Primary Care Centre in Handcross.

Barry Bennett, chairman of Cathedral Healthcare said: “This deal will provide us with the funding to grow our healthcare development portfolio significantly. Over the last 8 years we have built a series of high quality facilities enabling our partners to provide the very best primary healthcare services for their communities. This injection of funding allows us to build on that success.”