Belfast Telegraph

Group behind the Priory to open new nursing homes in province

By Clare Weir

The group behind the high-profile Priory addiction clinic is pressing ahead with plans to open two new nursing homes in Northern Ireland despite its sale to a private equity firm.

Royal Bank of Scotland agreed to sell the Priory Group of clinics for over £900m, including debt, to Boston-based Advent.

Following the announcement of the sale last week, a spokeswoman for the group said: “Care homes are opening as planned and are progressing as planned.”

Recruitment is currently still under way for the homes in Banbridge and Cairnmartin on the outskirts of Belfast.

The group promised 16 new homes in Northern Ireland in the next two years, representing a total of 1,200 beds, 1,000 new jobs and a £50m investment.

The company moved into the elderly care market in 2009 when it opened the £3.5m Ben Madigan facility in Newtownabbey. Last year’s plans included locations in Belfast, Coleraine, North Down, Ards, Craigavon and Ballymena.

RBS, which is 83% owned by the Government, said it will receive gross proceeds of about £133m from the sale.

Priory management, led by Belfast-born chief executive Philip Scott, will retain a stake in the firm following the deal.

Belfast Telegraph