Primary Health Properties PLC (LSE:PHP, OTC:PHPRF) has announced Mark Davies will take over from outgoing chief executive officer Harry Hyman in April next year.
Davies previously co-founded NewRiver REIT PLC (LSE:NRR), playing an important role in taking the trust from its initial public offering (IPO) to the FTSE 250 index, Primary Health said on Monday.
Having served as the trust’s chief financial officer for over 12 years, alongside working at the likes of Hawthorn Leisure Limited and Omega Land, Davies has overseen the raising of some £3 billion since 2009, Primary Health continued.
“Mark's track record, experience and knowledge of property and capital markets […] will be of considerable benefit,” chairman Steven Owen commented.
Davies will take on the role as Hyman steps down in April, around the time of Primary Health Properties’ annual general meeting.
“There is a significant long-term strategic opportunity to own, develop and modernise healthcare assets and Primary Health Properties has a high-quality portfolio,” Davies added.