PINC - Premier to divest non-healthcare group purchasing organization operations for ~$800M
2023-06-14 17:23:47 ET
- Premier ( NASDAQ: PINC ) on Wednesday said it would divest its non-healthcare group purchasing organization (GPO) operations for about $800M in cash to OMNIA Partners.
- Class A shares of PINC were up 1.3% to $26.19 after hours.
- The deal was unanimously approved by PINC's board and is expected to close by early August.
- The deal is not expected to have an impact on PINC's FY 2023 results.
- "This transaction unlocks substantial value for Premier's ( PINC ) stockholders and is an important step in our ongoing review of strategic alternatives,” company CEO Michael Alkire said in a statement .
- Following deal close, OMNIA will become the primary GPO for PINC's non-healthcare members. The transaction will have no impact on PINC's healthcare businesses.
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Premier to divest non-healthcare group purchasing organization operations for ~$800M