Duke inks royalty agreement with Canadian health organisation
Source - SMW
Alternative capital provider Duke Royalty said Thursday it had entered into a £10m royalty financing agreement with InterHealth Canada Holding Corp. InterHealth Canada Holding Corp, or ICHC, is the wholly owned subsidiary of a 24-year-old Canadian-based organisation InterHealth Canada Limited that specialises in the development, commissioning and management of healthcare facilities in various countries around the world.
This transaction is expected to broaden Duke's revenue base and increase portfolio diversification, reducing risk for investors. The deal formed part of Duke's strategy to target sectors such as healthcare services, which represent a reliable and recurring nature of revenues.
'ICHC is the largest company with which Duke has transacted to date and, given that it represents our first investment in the healthcare services sector, we are pleased to have further diversified and de-risked the existing Duke portfolio,' said Neil Johnson, CEO of Duke Royalty.
At 9:09am: (LON:DUKE) Duke Royalty Limited share price was +0.2p at 44.7p