Octopus Investments has completed its purchase of MedicX Group.

The deal, which includes MedicX Adviser, the investment adviser to MedicX Fund, increases Octupus’s funds under management to more than £4.7bn.

MedicX Fund is a specialist primary care infrastructure investor in purpose-built primary healthcare properties with a portfolio of 136 properties.

Mike Adams, chief executive of MedicX Group, will continue to lead the existing team. MedicX Fund will remain a core focus for MedicX Adviser.

David Staples, chairman of MedicX Fund, said Octopus had made it clear it intended to be a long-term owner.