PINC - Premier Inc. evaluating strategic alternatives including sale

2023-05-08 16:42:36 ET

• Premier Inc. ( NASDAQ: PINC ) said it's evaluating its strategic alternatives, including a sale of all of all or part of the healthcare services company. Premier shares were halted for news pending.
• The board established an special committee composed of independent directors to evaluate any alternatives that may involve actual or potential conflicts of interest, according to a statement on Wednesday.
• Premier ( PINC ) also reaffirmed its fiscal-year 2023 guidance, which was updated on Tuesday. In light of its strategic review, Premier doesn't expect to provide fiscal 2024 guidance when it reports its fiscal 2023 Q4 results in August.
• News of the strategic review comes as Premier ( PINC ) has been reported to be a takeover target a few times in recent year, including last July in Axios report and also back in 2019.
• BofA is serving as Premier’s ( PINC ) financial advisor and McDermott Will & Emery is serving as legal counsel.
• Premier ( PINC ) shares plunged 19% on Tuesday after slashing its outlook with its quarterly results for the second time this year.

For further details see: