The new owner of Priory Group – the mental health services provider best known for treating celebrities including supermodel Kate Moss and footballer Paul Gascoigne – has said it is creating Europe’s “leading rehabilitation and mental health services provider”.
It now plans to treat as many as 260,000 patients in 570 clinics across the continent.
The Priory Group is a registered and approved provider for all of the UK’s leading private medical insurers, including Aviva, AXA PPP healthcare, Bupa and Cigna.
It is well-known for its namesake clinic in Roehampton, which has become synonymous with tabloid tales of celebrity dry-outs.
Now private equity outfit Waterland is to combine Priory with its existing German rehab business Median as part of a $1.35bn (£1bn) deal.
Acadia originally bought the Priory business in 2016, in a move which turned it into one of the world’s largest mental health services providers.
But the group’s core business remains its treatment programmes for more than 30,000 Brits in over 450 facilities across the UK who are dealing with conditions including depression and eating disorders.
It is also a specialist at dealing with ‘sharp-end’ forensic/psychiatric disorders including those affecting offenders in prisons, secure hospitals and the community with mental health problems.
Now the latest transfer of ownership is set to boost its capacity still further.
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.”
Dr André Schmidt, Median’s chief executive, said: “We are delighted to be partnering with a company and team as prestigious as Priory Group. They have a strong reputation for delivering innovation and quality care for patients in the UK.
“Demand for the services that both companies provide is set to increase as populations age, as the pressures of modern life grow, and as public healthcare systems come under fiscal pressure. Together, we stand ready to meet those needs and I am tremendously excited about the opportunities for the future.”