Acadia Healthcare Agrees To Buy UK's Priory Group For 1.275 Bln Pounds

Acadia Healthcare Co. Inc. said Monday it has agreed to buy Priory Group, a UK behavioral healthcare group, for 1.275 billion pounds in cash, equal to about $1.887 billion, including the assumption of 925 million pounds in debt. Priory has more than 300 facilities across the UK and about 7,200 beds. Acadia says it expects the deal to produce annualized earnings accretion in a range of about 38 cents to 42 cents. The company is expecting Priory to post revenue of about $865 million for 2015. The deal is expected to close by February 16. Acadia shares were not yet active in premarket trade, but have fallen 4.4% in the last three months, while the S&P 500 has gained 4.7%.