AH Medical Properties

AH Medical Properties specialises in investing in buildings used by the health and medical sector. Since joining PLUS in January 2007, it has expanded rapidly and achieved popularity among investors.  The market has been a key part of the company’s strategy for growth.

“By floating on PLUS, we have raised our profile,” explains chief executive Steve Minion. “I think being a public company is quite useful in many situations, especially if you are dealing with the public sector, which is where 99% of our business comes from.”

Also, as an investment business, AH requires a ready flow of cash to make continual investments in its portfolio of medical centres, which it rents out to the government. This it has done successfully and the company set a record for PLUS Markets Group when it raised £13m during February and March of last year. The company also benefits from having a concrete valuation, which the listing provides. “PLUS also places a real value on the business and one of the problems with being a private company is that there’s no market,” says Minion. “However, we have had interest from three major institutions.”

He’s planning more “aggressive growth” in the near-future and hopes that PLUS will continue to grow as his business does, although he doesn’t rule out a move to AIM. Turnover this year is heading towards £5m, and its market capitalisation was just under £20m at the end of the year – nearly double what it was when it joined the market. So it’s sensible to expect that Minion’s ambitions will be realised.

Company stats Company: AH Medical Properties Founded: 2004 Founders: Steve Minion, Bruce Walker Turnover 2006: N/A Turnover 2007: £2.7m Web:www.ashleyhouseplc.com