Premier, Inc. Acquired by Patient Square Capital for $2.6 Billion

Premier, Inc., a leading healthcare improvement company based in Charlotte, North Carolina, has entered into a definitive agreement to be acquired by an affiliate of Patient Square Capital, a healthcare-focused investment firm. The all-cash transaction, valued at approximately $2.6 billion, will see Premier stockholders receive $28.25 per share, representing a 23.8% premium over the company's 60-day volume-weighted average price as of September 5, 2025.

The acquisition has been unanimously approved by Premier's Board of Directors and is expected to close by the first quarter of 2026, pending approval from Premier stockholders and regulatory authorities. Upon completion, Premier will transition to a privately held company, and its common stock will no longer be listed or traded on any public exchange.

"We are pleased to have reached this agreement and delighted that Patient Square recognizes and is committed to enhancing Premier’s integral role in the U.S. health care system," said Richard Statuto, Premier’s Board Chair. "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."

Founded in 2013, Premier, Inc. offers analytics, supply chain solutions, and consulting services to healthcare providers across the United States. The company became publicly traded in September 2013, raising $760 million through its initial public offering. As of 2023, Premier employed approximately 2,800 individuals.

Patient Square Capital, headquartered in Menlo Park, California, is a dedicated healthcare investment firm with more than $14 billion in assets under management. The firm focuses exclusively on the healthcare sector, investing in companies that aim to improve patient outcomes and healthcare services.

"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," stated Neel Varshney, M.D., Founding Partner at Patient Square Capital.

The transaction is not subject to a financing condition, indicating that Patient Square Capital has secured the necessary funds to complete the acquisition. Financial advisors for Premier include Goldman Sachs & Co. LLC and BofA Securities, Inc., with legal counsel provided by Wachtell, Lipton, Rosen & Katz. Patient Square Capital is being advised by Jefferies LLC and Santander.

Following the announcement, Premier's stock experienced a notable increase, reflecting investor optimism about the acquisition. The offer price of $28.25 per share represents a 9.7% premium over the stock’s closing price of $25.75 on September 19, 2025.

This acquisition signifies a significant consolidation within the healthcare industry, particularly in the healthcare improvement and supply chain sectors. As Premier transitions to a privately held company, it may gain greater flexibility to invest in long-term initiatives without the pressures of quarterly earnings reports. However, the move also raises questions about the impact of private equity ownership on healthcare services, including potential changes in pricing, service offerings, and organizational priorities. Stakeholders will be closely monitoring how this acquisition influences Premier's operations and its relationships with healthcare providers.

The transaction is expected to close by the first quarter of 2026, subject to approval by Premier stockholders and satisfaction of regulatory approvals and other customary closing conditions.