Priory Healthcare, a chain of clinics best known for helping treat tired and emotional celebrities, has been sold to its management for £288 million, according to bankers involved in the deal.
Priory, whose clinics treat everything from drug abuse and eating disorders to children with behaviourial problems, is the country's leading private psychiatric care company and had turnover of £109 million in 2001.
Merchant bank Rothschild said today the management buy-out was backed by venture capitalists Doughty Hanson.