Wragge & Co's Corporate and Real Estate teams have acted for the vendors of Prime Public Partnerships (Holdings) Limited (PPP), a UK primary care portfolio group with an aggregate asset value of £233 million, in connection with their exchange of PPP for shares in Primary Health Properties PLC (PHP). Under the terms of the deal, Worcester based PPP has been acquired by PHP, creating a healthcare property portfolio valued at over £940 million.

Wragge & Co has a longstanding relationship with the wider Prime group, also owned by the sellers of PPP, having provided property and healthcare related support for a number of years.

Chris Towle, director in Wragge & Co's Corporate team, said: "Transacting with a listed PLC like PHP is always a demanding process but we have completed a successful sale process for our clients. Not only did the transaction realise the value of our client's investment in PPP, but it contributes to Prime's strategy for growth by securing a five year development pipeline relationship providing opportunities for further growth and development for both parties."

Richard Laing CEO of Prime plc, said: "The closing of this deal is a great outcome for the PPP shareholders, the Prime business, our healthcare clients and PHP alike and Wragge & Co's assistance has been invaluable throughout."

Wragge & Co's award-winning, global healthcare practice is at the forefront of developments in this rapidly evolving sector. Its experts work with UK and international public and private health organisations, bringing fresh thinking and commercially-sound advice. The team's track record includes advising on a number of sector firsts for the Department of Health, strategic health authorities, primary care trusts and overseas governments.

Wragge & Co's real estate practice offers specialist expertise across the whole real estate sector. It acts for a wide range of investors, developers, major corporates, financial institutions, housing associations and local authorities. Noted in Chambers UK 2013 for its "excellent quality of advice", it has the experience and capability to handle large, complex transactions.

Stand-out projects in London include the £2 billion regeneration of New Covent Garden Market and the development of a one million sq ft London Distribution Park at the Port of Tilbury.