The Priory Group, operators of the UK’s best-known rehab clinics, has been bought by private equity outfit Waterland.
Acadia, the American owners of the Group, confirmed the offload before US markets opened.
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It will merge the two businesses and create what Waterland say will be “Europe’s leading rehabilitation and mental health services providers”
The deal is worth some $1.35bn (£1bn) and will see Waterland combine the Priory with its existing German rehab business MEDIAN.
Acadia bought the business for £1.3bn in 2016.
The Priory Group is best known for its namesake clinic in Roehampton, which has become synonymous with tabloid tales of celebrity dry-outs.
But the group supports more than 30,000 Brits in over 450 facilities across the UK on conditions as diverse as depression and eating disorders.
Dr Carsten Rahlfs, Managing Partner of Waterland, said: “Both Priory Group and MEDIAN have strong reputations in clinical excellence and in delivering high-quality patient care.
“I believe that bringing together both organisations will build a powerful platform to deliver world-class healthcare services across Europe, encompassing rehabilitation and mental health treatments.”