Acadia Healthcare announced that it has reached an agreement to sell off its operations in the United Kingdom, which conduct business under the name the Priory Group, to Waterland Private Equity in a deal that the company expects to result in net proceeds of approximately $1.35 million. The transaction is expected to close this month.
In a statement announcing the deal, Acadia CEO Debbie Osteen said the company intends to use proceeds from the sale to pay down debt and “for other corporate purposes.”
“We believe we are well positioned to meet the strong demand for mental health and substance use treatment across the U.S.,” Osteen said in the statement. “We will continue to focus on delivering the highest level of patient care and advancing our position as a leading behavioral healthcare facilities operator in the U.S.”
Acadia will maintain its operations in 40 states and Puerto Rico, providing behavioral healthcare services in inpatient psychiatric hospitals, specialty treatment facilities, residential treatment centers and outpatient clinics.