MedicX Healthfund invests £18m into its care homes portfolio

Leading UK healthcare investment fund MedicX Healthfund has acquired two purpose-built care homes as well as committing to fund the construction of a new build care home in Newbury.

Tim Meggitt, chief operating officer of MedicX, commented: “We are delighted to have witnessed such a positive start to the year, with 17 specialist care facilities now within the MedicX Healthfund portfolio, representing a committed investment of £107m.”

It recently acquired Lavender Court care home in Taunton, Somerset, a 69 bed care home with 10 one bedroom assisted living apartments, which is let to Somerset Care.

It is also building a 80 bed care home, Maple Crescent in Newbury, Berkshire which will be leased and operated by Care UK when it is completed.

Mr Meggitt added: “Our continued collaboration with quality operators such as Care UK and Somerset Care, clearly demonstrates the founding objective of the Healthfund, that of building substantial and ongoing relationships with leading UK operators to deliver long term returns to our investors. With a substantial and active pipeline, we anticipate announcing further acquisitions during Q1 2013.”

The MedicX Healthfund invests in modern purpose built UK healthcare premises let to established operators on long-term leases.