Catalyst

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Acadia Healthcare acquires Priory Group for $1.8 bn

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ACAD

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Management Comment Joey Jacobs, Chairman and Chief Executive Officer of Acadia, remarked, “We are extremely pleased to announce this agreement with Priory, a leading provider of behavioral healthcare services in the U.K. This transaction strongly validates our strategic decision to enter the U.K. 18 months ago and our ongoing investment in the country, which has expanded our current presence to 54 inpatient facilities with approximately 2,200 beds. We believe the favorable industry dynamics that support this strategy – in particular, a long-term increase in the need for independent sector support for inpatient behavioral health – will provide Acadia continuing long-term accretive organic growth and acquisition opportunities. We look forward to welcoming Priory’s outstanding team to Acadia and to building on a sector leadership position that reflects Priory’s clinical expertise, strong operations and high-quality facilities.” Tom Riall, Chief Executive Officer of Priory, added, “Today’s announcement is great news for Priory and we are delighted to be joining Acadia’s global team. The combination of our two companies will provide the right platform to deliver long-term market leadership and sustainable growth. We are creating a genuine world leader in the provision of behavioral healthcare services, and we are excited about the opportunities for the future.”
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Catalyst Date
Occurred on:
Jan 04, 2016
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Related Keywords Expansion, Acquisition, Accretion, Behavioral Healthcare, Transaction, Uk Market