Press Release - Priory Group
Priory has agreed terms for the acquisition of the Affinity Healthcare Group following a sale process conducted by Rothschild.The process, subject to Office of Fair Trading approval, is expected to be concluded early in the New Year and will combine the strengths of two established mental healthcare providers.The move will mean commissioners and patients will benefit from a greater capacity and range of integrated services through one provider.
Affinity Healthcare operates two hospitals in England and has plans in place for an adolescent mental health unit in Ballyclare, Northern Ireland. Cheadle Royal Hospital, Cheadle, Cheshire provides facilities for eating disorders, adolescent mental health, rehabilitation, PICU (psychiatric intensive care unit) and low security patients. The hospital has 153 beds and employs over 500 people.Middleton St George Hospital, Darlington, County Durham includes a low secure unit, PICU and intensive rehabilitation unit. The hospital has 80 beds and opened a new eating disorders service in January 2010.
Priory CEO Philip Scott said:
"We are delighted that Affinity Healthcare Group will become part of the Priory family of healthcare businesses. It makes commercial sense to combine our portfolios to ensure that all of our stakeholders benefit from the value that a larger hospital group will undoubtedly deliver. Affinity is a high-quality business and will fit well into the hospital division operated at Priory.'
Affinity chief executive Tommy MacDonald-Milner said:
"Affinity is achieving strong profit growth at a time when other firms have had a hard time because of the recession and is an established provider of high-quality complex mental health services to the NHS. Affinity's business is a good fit with the Priory which is the UK's largest independent provider of mental health and specialist education services. I am very pleased that we have agreed a deal that will permit Affinity to merge with Priory. It means a greater range of integrated, high-quality services will be offered to all patients."