The healthcare investment firm Patient Square Capital finalized its $2.6 billion acquisition of Charlotte, N.C.-based Premier on Nov. 25.
Four notes:
1. The deal takes Premier private, making it a wholly owned subsidiary of Premium Parent, an affiliate of Patient Square Capital.
2. Under the terms of the deal, Premier stockholders received $28.25 in cash per share. Premier’s common stock ceased trading and was delisted from the Nasdaq the same day.
3. Premier’s board of directors resigned as stipulated in the agreement, according to a Nov. 25 SEC filing. Members included Universal Health Services CEO Marc Miller and Peter Fine, former CEO of Phoenix-based Banner Health. Premier CEO Michael Alkire and CFO Glenn Coleman now serve as the company’s only directors.
4. Premier and Patient Square Capital entered a definitive agreement in September. The deal comes after Premier reported $262.9 million in fourth-quarter net revenue, a 12% year-over-year decrease.
At the Becker's 23rd Annual Spine, Orthopedic and Pain Management-Driven ASC + The Future of Spine Conference, taking place June 11-13 in Chicago, spine surgeons, orthopedic leaders and ASC executives will come together to explore minimally invasive techniques, ASC growth strategies and innovations shaping the future of outpatient spine care. Apply for complimentary registration now.
