PRIMARY Health Properties (PHP) posted a jump in profits in the first half, as government plans to ease pressure on A&E departments by shifting more services to local GP practices helped to boost demand.
The listed-company, which invests in healthcare facilities that are then leased back to local NHS organisations or GPs, said pre-tax profits grew by 46.6 per cent to £32.4m in the six months to 30 June compared with the same time last year.
Its net asset value per share increased by 6.3 per cent to 339p while the net rental income it collected from its properties rose by 5.2 per cent to £30.6m.
NHS chief executive Simon Stevens has committed to finding £22bn of efficiency savings by 2020 as part of the NHS Five-Year Forward View plan published last October.
Stevens’ reforms include a more localised healthcare service so that the treatment of patients with more complex conditions can take place out of the hospital.
“Pressures on A&E departments, new models of care delivery aimed at being available 24 hours a day, seven days a week and an ageing population are adding to demand for modern, multi-disciplinary and flexible healthcare facilities in the community,” PHP chief executive Harry Hyman, said.
“PHP is well placed to continue to invest in quality investment and development property acquisitions in order to meet the NHS’ requirements for more modern, flexible premises,” he added.