Primary Health Properties, a listed UK REIT, completed its acquisition of MedicX, a specialist primary care infrastructure investor, for $1.1bn. "The Merger represents a major step forward in PHP's strategy which significantly extends the scale of our business and asset value. The highly complementary nature of the two portfolios will allow the combined business to continue to maximise shareholder value through delivering synergies across the businesses and accelerate the Enlarged Group's role in the modernisation of the primary care estate in the UK and Ireland. I believe we have established a genuine rapport with our colleagues on the MedicX Board," Steven Owen, PHP Chairman.