Primary Health Properties eyes investment as ‘market adjusts’

Primary Health Properties is weighing new investment opportunities after a spell of dialling back its spending. The healthcare investor said in a trading update that it had taken a “very disciplined approach” to investment and development activity, but added that it was “now seeing a range of interesting and accretive opportunities as the market adjusts to the new interest rate environment”. Chief executive Mark Davies said: “We welcome the new government’s commitment to reforming the NHS and specifically the need for increased investment in primary care, which will add further resilience to the business model. “As highlighted in the Lord Darzi report, the current primary care estate in the UK is not fit for purpose and there is an urgent need to provide more high-quality, multidisciplinary care in the community in modern facilities with digital infrastructure and diagnostics. In the future this will result in a shift in resources from hospitals towards primary care and community led health services that PHP has been successfully delivering for nearly 30 years.”