Primary Health Care Limited
(ASX:PRY) says it has reached an agreement to sell its Barangaroo office site for $40 million.
The decision follows the sale of Primary’s stake in Vision Eye Institute as part of a strategy of free up cash to grow the core business of developing large scale medical and imaging centres.
Some of the money will also be used to pay down debt as the company continues to recover from the loss of founder Dr Edmund Bateman.
Primary Health Care reported a net profit of $136.5 million for the 2015 financial year.
