Priory is put up for sale AGAIN at £1billion

THE American owner of the Priory Group has confirmed that Britain’s largest private mental healthcare provider is back on the market for an estimated £1billion.

Debbie Osteen, head of US-listed Acadia Healthcare, which owns the Priory, said in a statement: ‘We have notified potential buyers that we will shortly relaunch the formal process regarding the sale of our UK business.’

The Mail on Sunday revealed in July that Acadia was preparing to revive the sale of the Priory in the autumn. It is at least the third time that Acadia has tried to sell the Priory since it bought it in 2016 for almost £1.3billion from the private equity firm Advent International. Acadia said in March it had been forced to halt the sale following the market turmoil caused by the coronavirus pandemic.

The Priory was founded in 1980 with the purchase of a hospital in Roehampton, South-West London. It has grown substantially since then and now runs more than 300 centres across the UK.

They have treated some of Britain’s best-known celebrities. Model Kate Moss, singer Robbie Williams and socialite Lady Isabella Hervey have all sought treatment there. But recently the Priory has seen a string of controversies over the treatment of some patients at some of its centres.

Bankers said the most serious potential buyer is Germany’s Schoen Klinik, backed by US private equity firm Carlyle.

Australia’s Ramsay Health Care and private equity firm CapVest have also been circling the Priory.