Priory Group to acquire the Craegmoor Group

Priory Group has today announced that it has reached an agreement to acquire the Craegmoor Group for an undisclosed amount. As a result of the acquisition, Priory will become the market leader in the Mental Healthcare, Specialist Education, Autism and Learning Disability sectors.

Priory, as current market leader in Acute Mental Health Services and Specialist Education Services, will consolidate those divisions via the addition of Craegmoor’s portfolios of hospital and Specialist Educational colleges. As the market leader in Autism and Learning Disability Services, Craegmoor will enable Priory to create a new division operating in that marketplace.

In addition, the combination of the elderly care operations of both companies will create a large division with a strong development pipeline. This will enable the enlarged Priory Group to better meet the significant emerging demographic demands anticipated over the next twenty years.

As NHS healthcare reforms rapidly progress, Priory expects to become a partner of choice for many of the new Commissioning entities requiring its range of specialist services. This is driven by demand for an extensive care pathway of services, Priory’s focus on rehabilitation and eventual discharge in the shortest possible timeframe, its innovations such as episode pricing and the provision of relapse guarantees.

Commenting on the announcement, Philip Scott, Chief Executive Officer of Priory Group, said, “Priory and Craegmoor are extremely complementary businesses. Our combined strengths will enable us to offer our patients, pupils and their families, access to a wider range of specialists, whilst also improving the continuity and co-ordination of care we are able to offer. Our management team is committed to ensuring that high quality service provision remains the top priority for the new group.”

Ted Smith, Chief Executive Officer, Craegmoor Group, said, “It is a testament to the fantastic strides Craegmoor has made in the past few years that we have attracted the attentions of the leading business and brand in our sector.

Our staff, the people we support and their families should be confident that the business is in safe hands and well positioned to form an important part of a larger group.”

Advent International, the global private equity firm, holds majority investments in both Priory Group and Craegmoor Group.

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