European private equity group Waterland has agreed to acquire Priory Group from US owners Acadia this month in a deal reported to be valued at £1.1bn.
Waterland said its plans to combine Priory with MEDIAN of Germany to create Europe’s leading rehabilitation and mental health services provider.
Dr Carsten Rahlfs, Managing Partner of Waterland, said: “Both Priory Group and MEDIAN have strong reputations in clinical excellence and in delivering high-quality patient care. I believe that bringing together both organisations will build a powerful platform to deliver world-class healthcare services across Europe, encompassing rehabilitation and mental health treatments.”
Priory Group supports more than 30,000 people a year in over 450 facilities across the UK, focusing on mental health and addiction rehabilitation, special educational services as well as adult care. The Group treats for more than 70 conditions, including depression and anxiety, addictions and eating disorders.
Waterland said the new group will see an expansion and development of the Priory’s current rehabilitation services, especially in neurology and other post-acute services.