Rutherford Health has signed a £40 million ($55 million) healthcare infrastructure investment with Equitix Investment Management.
The investment is backed by the freehold transfer of the Rutherford Cancer Centre South Wales and supported by other security to be put in place over the group's other centers. The agreement is for a term of 25 years on normal commercial rates on the expiry of which the group will have the option to repurchase the freehold of the South Wales center for an agreed nominal sum.
The proceeds from the investment will be used by the group for further investment in its infrastructure, as well as used to provide working capital for the group's development for the medium term. Of the £40 million ($55 million), £25 million ($35 million) is payable immediately, with the balance payable in three equal tranches following the grant of additional security over the other centers. The additional funds need to be drawn down within six months, although the