“We like to change sectors that are either broken or complacent. The group has entered a number of new industries in recent years – most notably energy, where is it now the third largest owner of renewable assets in the UK, and in healthcare, where it is focused on building care homes, hospitals and retirement villages. The group’s strategy is to focus primarily on sectors in which it believes customers are ill-served. Octopus has six divisions in total covering healthcare, investment management, venture capital, property lending, renewable energy generation, and fintech. Mr Hulatt said Irish lenders had expressed an interest in partnering with MedicX in funding further opportunities. The company is funding its expansion locally through a revolving credit facility provided by Bank of Ireland. MedicX has four primary care schemes currently up and running in Ireland with a fifth one in Rialto, Dublin 8 due to be completed in early 2019.
“Over time and given we find the right partners there are opportunities to grow in Ireland,” he added. “From a healthcare property standpoint, the reimbursement structure for GPS, while slightly different from that which operates in the UK, is very attractive,” said Mr Hulatt. Speaking to The Irish Times, Octopus co-founder Chris Hulatt, who set up the business along with Simon Rogerson and Guy Myles in 2000 when he was just 23-years-old, said the group saw lots of growth opportunities in Ireland. Its Irish portfolio is currently valued at more than €60 million. The MedicX fund has 166 primary healthcare properties in total, including five centres locally that are either open or under construction. The group, which has backed more than 500 companies in Britain in recent years, is already active in the Irish market through its listed healthcare fund MedicX. Octopus, the fast-growing UK-based funds management group that manages more than £7 billion (€7.92 billion )in assets, is interested in further extending its reach in Ireland.
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