Primary Health Properties (PHP) says it is in talks about the possibility of forming a joint venture, seeded with part of its UK private hospital portfolio, although it did not name the potential partner at this stage.
Image: Independent Media
London-based Primary Health Properties (PHP) share price shot up nearly 5% on the JSE on Wednesday after confirming discussions with an investor over the potential contribution of its private hospital portfolio to "seed" a new joint venture.
The company, listed in London and with a secondary listing on the JSE since 2021, stated kin a statement that the talks remain ongoing and will be subject to all necessary approvals. There is no certainty at this stage that any transaction will be reached, and all options were being evaluated, PHP said.
On the JSE, the share price gained 4.78% to R20,82. PHP’s confirmation of talks followed speculation by Sky News that PHP was in discussions with an institutional investor to form a joint venture seeded with part of its private hospital portfolio.
Sky News described the potential investor as a large, credible institutional fund interested in healthcare real estate and the deal could involve hundreds of millions of pounds in assets, as an online search by Business Report showed.
PHP has previously stated that it has been exploring a range of strategies, including potential joint venture arrangements with “highly credible investors” to enhance the long-term value of its private hospital portfolio.
PHP invests in modern healthcare infrastructure with a £6 billion portfolio invested in critical social assets across the UK and Ireland. The portfolio benefits from resilient operating metrics in a sector with strong fundamental demographic characteristics, supported by a positive political backdrop and the need for greater investment in healthcare infrastructure to support the delivery of services in local communities.
In 2025, PHP combined with Assura to create the UK's largest listed healthcare REIT, placing the enlarged group in the top quartile of the London Stock Exchange FTSE 250 index with the additional benefits of significantly increased share liquidity, investor reach, and a lower cost of capital.
PHP's "portfolio, strong platform with a robust balance sheet, and a disciplined focus on rental growth and cost control supports our 30-year track record of paying an increased progressive dividend,” its director said in a statement.
BUSINESS REPORT