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Earnings surge 29% at MedicX

Healthcare property investment fund MedicX Fund saw earnings grow by nearly a third in its last financial year.

In results for the year ended 30 September 2012, the company reported ebitda of £12.6 million, up 39.6% from last year (2011: £9 million).

Rental income also rose 33% to £15.7 million.

The firm increased its dividends to 5.6 pence from 5.5 pence last year.

The firm’s chairman, David Staples, said: “I am pleased to report a successful year for MedicX Fund."

With the NHS looking to implement the changes brought about by the Health and Social Care Act and drive healthcare towards a community setting managed by the GP Clinical Commissioning Groups, we continue to see demand for modern purpose-built primary healthcare properties.

Source: Health Investor magazine