Waterland Private Equity, an independent private equity investment group, agreed to acquire the UK operations of Acadia Healthcare, a multinational behavioral healthcare provider, for $1.5bn. "Since announcing our decision to explore strategic alternatives with respect to the Priory Business, our primary objective has always been to complete a transaction that would maximize value for our stockholders. Following a comprehensive process, we believe we have achieved this objective. We intend to use the proceeds to pay down debt and for other corporate purposes. We believe we are well positioned to meet the strong demand for mental health and substance use treatment across the US We will continue to focus on delivering the highest level of patient care and advancing our position as a leading behavioral healthcare facilities operator in the US," Debbie Osteen, Acadia CEO.