The Priory clinic chain, famous as a retreat for overwrought celebrities, has been sold for �288m.

Priory Healthcare, which has centres across the UK, was bought by its management on Tuesday, bankers said.

The chain is the UK's leading private psychiatric care company, and had a turnover of �109m in 2001.

Its clinics treat drug and drink abuse, eating disorders and behavioural problem, and several celebrities have passed through its doors, including Rolling Stones guitarist Ronnie Wood and former Wet Wet Wet frontman Marti Pellow.

Specialist care

UK merchant bank Rothschild said the management buy-out was backed by venture capitalists Doughty Hanson.

Priory Healthcare split from parent company Westminster Healthcare in May, when the latter company was itself the subject of a �267m management buy-out.

Westminster Healthcare operates the former combined company's senior living, rehabilitation services, specialist units, intermediate care services and respite care.