Icade Santé, the healthcare arm of French property group Icade, is planning a EUR 110 mln capital increase to finance the purchase of three clinics for EUR 52 mln and a further eight properties by the end of the year.

Icade Santé, the healthcare arm of French property group Icade, is planning a EUR 110 mln capital increase to finance the purchase of three clinics for EUR 52 mln and a further eight properties by the end of the year.

In a statement on Thursday, Icade Santé said the deal involves a total of 11 assets operated by the Clinipole Group.

The company has received backing from three existing institutional investors and a new one, Mafic Group, to increase its share capital. Icade, the majority owner of Icade Santé, is contributing EUR 45 mln, raising the capital increase to EUR 155 mln.

Icade Santé currently has 47 assets valued at over EUR 1.4 bn, managed by seven operators.

'The success of this capital increase, plus the entry of a new shareholder, demonstrates investor confidence in the prospects and performance of Icade Santé, as well as in its team,' the company said.