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UK: Equity firms offering $389mn for Priory hospitals

 |  October 2, 2016

BC Partners, the private equity firm that owned the mobile phone retailer Phones4U until its collapse in 2014, is poised to bid for 19 hospitals being offloaded by Priory’s owner, the American healthcare giant Acadia.

Acadia bought Priory for £1.5bn in January, however, the deal has been investigated by the Competition and Markets Authority over fears the enlarged operator would raise prices for local authorities and the NHS.

To stave off an in-depth review, Acadia is selling off 19 hospitals. The auction is set to play into the hands of private equity firms, which can buy assets without facing competition concerns.

BC is expected to be joined in the bidding by Apax Partners, the former owner of used car site Auto Trader.

Full Content: The Sunday Times

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