Having returned to its roots in the secure business of investing in medical properties, investors do not seem to have given Assura’s shares full credit yet for making a clean break from its disastrous foray into medical services. The shares are still valued below the basis on which the market is valuing its only real peer – Primary Health Properties. Yet AGR’ s other businesses which investors regarded as problematic have either now gone, or are turning into profit.

In addition, following the highly synergistic acquisition of AH Medical properties and the successful accompanying share placing, we believe that AGR now has a property business on course to be more efficient, is larger, and has headroom to grow more quickly, than does PHP.

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