US Acadia, bought the Priory Group for 1.28 bn last year and now owns half of all mental/behavioural services in England..
95% of The Priory Group income is now public money.
In 2015/16 it received over 250 million of NHS funds.
Joey Jacobs owns Acadia Behavioural Healthcare Services and earned 8,241,847 dollars in salary, bonus and shares in 2014.
Tom Riall, Formally chief executive of Serco, with all its known financial scandals, was made CO of the Priory Group
And he is also a Director of 166 other learning disability companies including the Affinity Trust now Affinity Group and effectively controls most mentally disabled residential groups. His net worth is 1.66 billion
After five formal notices served by Coroners because of deaths in the Priory Group, Riall moved on to My Dentist.
Does this sound like a cash strapped NHS ?? no, quite the reverse, it is a bonanza for private venture capital .
No competition, as all is owned and controlled by one company and run for maximum profit
Only those hospitals and residential units owned by US Acadia are funded by NHS England through its CCGs, as the only ‘qualified providers’ under the Health and Social Care Act 2012.
The system is fed by no support in parent’s home due to LA cuts, but this is just the excuse, for an LA policy that feeds venture capital regardless of its service.
The rest of this lucrative behavioural industry is also privately owned by United Health Services, who own Cygnet Hospitals and Cambian Group including NHS CAMHS groups. UHS previous executive was Simon Stevens who now heads NHS England which controls all CCG funding.
As we have seen there are no independent or indeed any investigations into service user deaths and even when there are and they last 18 months as in the death of Thomas Rawnsley, all is whitewashed and does not affect the service provider showing there is no accountability even for death, as evidenced by recent death reviews, yet these services cost our NHS billions.