Primary healthcare investor and developer Assura has completed its purchase of developer Apollo Capital Projects Development.
The company said the acquisition will expand its development pipeline by an initial eight schemes with an estimated total capital expenditure of £50m.
The purchase will also expand its development team to 11 specialist surveyors.
Assura chief executive 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.
“Expanding our offer to the NHS as its partner of choice has never been more vital than it is today.”
Warrington-based Assura’s property portfolio was valued at almost £2.3bn at the end of September last year.
To send feedback, e-mail pui-guan.man@egi.co.uk or tweet @PuiGuanM or @estatesgazette
