Patient Square Capital announced on Monday that it has reached a deal to acquire Premier Inc. for $2.6 billion. The deal, which is subject to regulatory and shareholder approval, is expected to close by the first quarter of 2026.
“We believe this transaction is in the best interests of Premier and its stockholders and, upon closing, will deliver immediate and certain value to our stockholders, while simultaneously providing the company with access to additional capital that can accelerate the support and services provided to members and other customers during this critical time in health care,” said Richard Statuto, board chair of the technology-driven health care improvement company.
According to the company, Premier represents $84 billion in group purchasing power and holds more than 3,000 active negotiated contracts with more than 1,400 suppliers and manufacturers. It offers providers, suppliers and payers integrated performance data and analytics; supply chain resiliency tools; and consulting.
Patient Square Capital is a dedicated health care investment firm with more than $14 billion in assets under management. Its portfolio companies include ChenMed, a value-based primary care provider for Medicare Advantage patients; Elevage, which supports medical device approval and commercialization; and Access Telecare, an acute care telemedicine provider. Founding partner Neel Varshney, M.D., said Premier fits its investment profile of businesses that strive to improve patient lives, strengthen communities and create a healthier world.
“We have long admired Premier as an innovator of essential services and products to its members, which are leading institutions and providers in the U.S. health care system,” he said. “Our team sees tremendous opportunity for Premier to continue growing its differentiated portfolio in supply chain services, data and technology offerings, and consulting solutions that deliver value to patients, and we look forward to working closely with the team as a private company.”
Michael J. Alkire, Premier’s president and CEO, looks forward to the additional capital and resources that the acquisition will provide.
“Since going public in 2013, Premier has leveraged our access to capital to build unmatched supply chain expertise, world-class technology and nationally recognized advisory capabilities that enable our members to continuously improve their cost, quality and operational efficiencies,” he said. “Now, as the health care landscape continues to rapidly evolve, transitioning to private ownership will once again enhance the company’s financial flexibility and provide additional resources to accelerate the advancement and tech enablement of our product portfolio, capitalize on emerging opportunities and continue pushing the envelope of innovation.
“I am proud of everything our team has achieved and look forward to building on our progress as we continue delivering real results for our members, contracted suppliers, customers and other stakeholders.”
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