Dutch bank acquires British rehab center

Now this is an article that’s a year and a half old, but I’m bringing this up because it’s now becoming a trend. Apparently, more private equity firms are snapping up drug rehab centers because it’s profitable. Well, don’t expect the war on drugs to get support from these guys, it’s too good of a revenue stream.
Dutch bank acquires British rehab center – Business – International Herald Tribune ABN AMRO made an unusual jump away from finance on Tuesday with the £300 million purchase of Priory Group, a British rehabilitation center and health clinic known for nursing celebrities like the model Kate Moss back to health after drug addictions or breakdowns. With the deal, ABN AMRO will also assume some £575 million, or $1 billion, in debt, bringing the total value of Priory to about $1.5 billion. The largest Dutch bank said it planned to restructure Priory’s debt and provide financing and merger advice for the group’s ambitious growth plans. Priory said it hoped to expand its existing facilities and eventually buy similar businesses in Britain and possibly Continental Europe. With 40 facilities and 1,700 beds in Britain, Priory is the largest independent European provider of mental health, rehabilitation and special education services.