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12/2020100%

Priory Group acquired by Median Kliniken

UNITED KINGDOM Health Providers / Healthcare Facilities / Clinics / Hospitals EV £1–10bn

Context

MEDIAN Kliniken, a Waterland Private Equity portfolio company, agreed to acquire 100% of Priory Group from US-based Acadia Healthcare. Following closing, Waterland intends to combine Priory with MEDIAN to create a leading European rehabilitation and mental health services provider, operating 570 facilities and treating approximately 260,000 patients annually across the UK and Germany. The strategic rationale centres on geographic diversification into the UK market, cross-fertilisation of clinical expertise (particularly expanding Priory's rehabilitation services in neurology and post-acute care), and the transfer of MEDIAN's digital innovation capabilities to Priory's platform. The transaction represents the 22nd bolt-on acquisition in MEDIAN's buy-and-build strategy since Waterland's initial investment in 2011.

Priory Group, which reported an EBITDA margin of [members only] in 2020, is valued in this transaction at an EV/EBITDA multiple of 10x–18x, standing directly in line with the average observed in the Healthcare & Pharma sector (14.6x in 2020).

-> Deep-dive in Healthcare & Pharma market trends

Target

Priory Group is one of the UK's leading providers of behavioural healthcare services, founded in 1980 when US group Community Psychiatric Centers (CPC) acquired Priory Hospital Roehampton as its UK subsidiary. Through decades of organic growth and bolt-on acquisitions under successive private equity owners, Priory expanded into a comprehensive platform covering four main service lines: (1) mental health and psychiatric services treating over 70 conditions including depression, anxiety, eating disorders and psychosis; (2) addiction rehabilitation; (3) special educational needs services and children's services; and (4) adult social care and elderly care.

Ent. Value

£1–10bn

Equity Value

[members only]

Multiples

EV / Revenue

1x–3x

EV / EBITDA

10x–18x

EV / EBIT

[members only]

Historical Financials (GBP)

Year
Rev
EBITDA
EBIT
2020
£450–900M
£100–200M
[members only]
2019
£450–900M
£100–200M
[members only]

Other operations with Median Kliniken

Other operations with Median Kliniken
DateAcquirerTargetCountrySector
07/2023MEDIAN KLINIKENHESTIA ALLIANCESPAINClinics / Hospitals
10/2014WATERLANDMEDIAN KLINIKENGERMANYClinics / Hospitals

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REFERENCES

Valuation range: EV £1–10bn

Revenue range: £450–900M

EBITDA range: £100–200M

EV/Revenue range: 1x - 3x

EV/EBITDA range: 10x - 18x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Priory Group by Median Kliniken are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: priory group

Acquirer: median kliniken

FAQ

What transaction does this page cover?

This page covers Median Kliniken’s acquisition of 100% of Priory Group, a British company specialised in Healthcare Facilities, in 2020.

How was the acquisition of Priory Group by Median Kliniken valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the £1–10bn band, its EV/EBITDA multiple within the 10x - 18x range, and its EV/revenue multiple within the 1x - 3x range. Exact figures are available to members.

What were Priory Group’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Priory Group generated annual revenue estimated in the £450–900M range and EBITDA in the £100–200M bracket (FY 2020). Detailed financial figures are available to members.

How does the valuation of Priory Group compare to benchmarks in the Healthcare & Pharma sector?

With an estimated multiple range of 10x - 18x, the transaction stands directly in line with historical averages for the Healthcare & Pharma sector (14.6x in 2020).

What sources support the information on this transaction?

Transaction data and operational intelligence were compiled from independent financial press reporting by specialized M&A publications.

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