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Joey Jacobs, the US drug addiction clinics tycoon, has swept into Britain to buy the psychiatric hospitals group Partnerships in Care for £394m.
PiC, which is owned by private equity giant Cinven, was exposed in an Independent investigation last year for being among the slew of private healthcare companies relying on revenues from the taxpayer, but who pursue aggressive accounting policies to minimise their taxes. It also has a patchy record on the quality of its services.
Now, it is being taken over by Acadia Healthcare, a US psychiatric and substance abuse care giant which has 51 facilities across the US and Puerto Rico.
http://www.independent.co.uk/news/b...c-hospitals-sold-at-a-loss-to-us-9481748.html
PiC, which is owned by private equity giant Cinven, was exposed in an Independent investigation last year for being among the slew of private healthcare companies relying on revenues from the taxpayer, but who pursue aggressive accounting policies to minimise their taxes. It also has a patchy record on the quality of its services.
Now, it is being taken over by Acadia Healthcare, a US psychiatric and substance abuse care giant which has 51 facilities across the US and Puerto Rico.
http://www.independent.co.uk/news/b...c-hospitals-sold-at-a-loss-to-us-9481748.html