Acadia Healthcare to sell U.K business to private equity group

 

• Acadia Healthcare (NASDAQ:ACHC) is up 3.0% in premarket, as the company says it has agreed to sell its U.K. operations to Waterland Private Equity in a deal worth £1.1B ($1.4B).
• The proceeds will be used to pay down the debt, said Debbie Osteen, the CEO of Acadia, adding, “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.”
• The transaction, expected to close in January 2021, comes more than a year after the company announced that it was exploring strategic alternatives for the business, operated as The Priory Group.
• The sales process, previously suspended due to issues related to the COVID-19 pandemic, resumed in September.
• https://seekingalpha.com/news/3647886-acadia-healthcare-to-sell-u-k-business-to-private-equity-group