Investment Adviser update

RNS Number : 5147L

The MedicX Fund Limited

04 July 2014

 



For immediate release

4 July 2014

MedicX Fund Limited

("MedicX Fund", "the Fund")

Investment Adviser update

MedicX Fund (LSE: MXF), the specialist primary care infrastructure investor in modern, purpose-built, primary healthcare properties in the United Kingdom, announces that Octopus Capital Limited  ("Octopus") has agreed to acquire MedicX Group including MedicX Adviser Ltd, the Investment Adviser to the Fund from, inter alia, funds managed by Cabot Square Capital LLP.  The acquisition is subject only to Financial Conduct Authority approval and is expected to close by the end of September 2014.

Octopus Capital Limited is the parent company of Octopus Investments Limited, a fast-growing UK fund management business with leading positions in several specialist sectors.  After closing, Octopus' assets under management will be circa £4.5 billion.

MedicX Fund has a market leading portfolio with high quality debt facilities, a strong performance track record and a loyal and diverse shareholder register.  Octopus recognises the importance of the excellent working relationship and clear focused strategy shared by the Board of MedicX Fund and MedicX Adviser Ltd and is committed, as a long term owner of MedicX Group, to supporting the Fund's continued growth.

Mike Adams, CEO of MedicX Group, will continue to work with his existing team in the same role, and MedicX Fund will remain a core focus.

David Staples, Chairman of MedicX Fund, commenting on the transaction, said:

"The strong partnership approach which MedicX Fund has in place with our Investment Adviser has helped us to build a successful track record over the past eight years.  With no change in the strategy, nor the Investment Advisory Agreement, we look forward to continuing to work with MedicX Adviser Ltd on the future growth of the Fund."

Further details will be announced at closing.

End

For further information please contact:

MedicX Fund                                                                  [phone]

David Staples, Chairman

MedicX Group                                                                [phone]

Keith Maddin, Chairman

Mike Adams, Chief Executive Officer

Mark Osmond, Chief Financial Office

Canaccord Genuity Limited                                              [phone]

Andrew Zychowski / Helen Goldsmith

Buchanan                                                                     [phone]

Charles Ryland / Sophie McNulty

Information on MedicX Fund Limited

MedicX Fund Limited (the "Company", or together with its subsidiaries, the "Group") is the specialist primary care infrastructure investor in modern, purpose-built primary healthcare properties in the United Kingdom, listed on the London Stock Exchange, with a portfolio comprising 131 primary healthcare properties.

The Investment Adviser to the Company is MedicX Adviser Ltd, which is authorised and regulated by the Financial Conduct Authority and is a subsidiary of the MedicX Group. The MedicX Group is a specialist investor, developer and manager of healthcare properties with 31 people operating across the UK.

The Company's website address is www.medicxfund.com.  Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website), nor the contents of any website accessible from hyperlinks within this announcement, are incorporated into, or forms part of, this announcement.

 

END

 

 

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