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Acadia Healthcare Co Inc said on Wednesday it would sell its UK unit the Priory Group, a care homes operator known for its celebrity clientele, to private equity firm Waterland for about 1.08 billion pounds ($1.47 billion).
The deal comes more than a year after the behavioral healthcare services provider said it was looking to sell the business, which it had acquired in January 2016 for nearly $850 million.
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Priory has more than 450 facilities throughout Britain and specializes in the treatment of mental health problems, including eating disorders, as well as alcohol and drug addictions.