PRIMARY HEALTH PROPERTIES PLC - Acquisition of Assura plc CMA Phase 1 Clearance

Acquisition of Assura plc – CMA Phase 1 Clearance

Primary Health Properties PLC
(Incorporated in the United Kingdom)
Company Number: 3033634
LSE Share Code: PHP
JSE Share Code: PHP
ISIN Code: GB00BYRJ5J14
LEI: 213800Y5CJHXOATK7X11
("PHP" or the "Group" or the "Company")


FOR IMMEDIATE RELEASE

29 October 2025



                          Acquisition of Assura plc – CMA Phase 1 Clearance


Further to the announcement by the UK's Competition and Markets Authority ("CMA") earlier today in relation
to its Phase 1 review of the Company's combination with Assura plc ("Assura"), PHP is pleased to note that
the CMA has concluded that the transaction gives rise to no competition concerns.

As a result of this decision, the CMA's requirement for the businesses to be held financially and operationally
separate, subject to certain derogations, is expected to conclude shortly. PHP will now turn its full attention
to the integration of the two businesses and realising the full benefits of the combination, including delivery
of the expected run-rate cost synergies of at least £9 million.

Mark Davies, CEO of PHP, commented:

"We are pleased with the decision announced by the CMA today that there are no competition concerns with
this strategically important transaction and we appreciate the work done by the CMA team during their review.

The management team can now focus on the integration of the two companies and is excited about the
prospect and opportunity it will bring by creating a £6bn healthcare REIT owning, managing and investing in
critical social infrastructure assets in a sector well placed to deliver growth.

This earnings-accretive transaction, which has compelling strategic and financial benefits, will give PHP a
lower cost of capital and a strong platform to accelerate our future expansion.

I'm looking forward to working with our new colleagues from Assura and working together to help the NHS
deliver its 10-year plan by shifting more patients into primary care which will help the NHS save money. We
have the knowledge, expertise and relationships and with a lower cost of capital are well-placed to help
deliver modern, flexible healthcare buildings in communities around the UK and Ireland."

The person responsible for arranging the release of this announcement on behalf of PHP is Toby Newman,
Company Secretary.



Enquires

Primary Health Properties PLC                                                    +44 (0) 7970 246 725
Harry Hyman, Non-Executive Chair                                                      via Sodali & Co
Mark Davies, Chief Executive Officer
Richard Howell, Chief Financial Officer

                                           
Sodali & Co (Communications for PHP)                                             +44 (0) 7970 246 725
Rory Godson
Elly Williamson
Louisa Henry


The Company has a primary listing on the London Stock Exchange and a secondary listing on the JSE
Limited.


United Kingdom
29 October 2025

Sponsor: PSG Capital




                                       

Date: 29-10-2025 09:15:00
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