Key Takeaways
- • Premier Inc. was acquired by healthcare-focused investment firm Patient Square Capital in an all-cash transaction valued at $2.6 billion, with stockholders receiving $28.25 per share in cash.
- • The take-private deal closed on Tuesday (November 25, 2025), earlier than the initially expected Q1 2026 close, and Premier ceased trading on Nasdaq after more than a decade as a public company.
- • Premier will now operate as a wholly owned subsidiary of Patient Square Capital, with CEO Michael Alkire and CFO Glenn Coleman serving as directors following board resignation under purchase agreement terms.
- • The acquisition concludes a strategic review initiated in 2023 as Premier faced declining revenue (down 3% YoY to $240 million in Q3) and compressed profitability (net income down 79% YoY to $15.3 million), alongside divestitures of non-core assets.
- • Patient Square Capital's acquisition of the healthcare GPO and technology-enabled intelligence company reflects investor focus on operational assets serving hospital and health system supply chain, data, and technology infrastructure.
Summary
Premier Inc., a Charlotte-based healthcare services and group purchasing organization, has been taken private by Patient Square Capital in a $2.6 billion all-cash acquisition that closed on Tuesday. The transaction represents a significant shift in ownership structure for the company, which had traded on Nasdaq for more than a decade before the deal's completion. Under the terms of the agreement, Premier stockholders received $28.25 per share in cash.
The deal was initially announced in September 2025 and closed ahead of schedule; Premier had originally projected a first-quarter 2026 closing. Following the acquisition, Premier now operates as a wholly owned subsidiary of Patient Square Capital. The company's board of directors resigned pursuant to the purchase agreement, with CEO Michael Alkire and CFO Glenn Coleman continuing to serve as directors under the new ownership structure.
The acquisition concludes a strategic reassessment that Premier commenced in 2023 when the company announced it would explore strategic alternatives, including a potential sale. This review came as Premier confronted deteriorating financial performance and structural headwinds. During the third quarter ended September 30, 2025, the company reported revenue of $240 million, representing a 3% decline year-over-year. Net income from continuing operations fell 79% to $15.3 million compared to the prior-year period's $72.9 million. In response to these pressures, Premier has divested several non-core assets, including its non-healthcare GPO operations and its holdings in S2S Global. The company is also winding down its Contigo Health employee benefits subsidiary.
Patient Square Capital's acquisition aligns with the firm's focus on healthcare infrastructure and technology assets that support hospital and health system operations. Premier provides supply chain, data analytics, financial, and operational tools to healthcare and life sciences organizations, positioning it as a strategic asset within Patient Square's portfolio during a period of ongoing consolidation and digital transformation in healthcare services.
The deal was initially announced in September 2025 and closed ahead of schedule; Premier had originally projected a first-quarter 2026 closing. Following the acquisition, Premier now operates as a wholly owned subsidiary of Patient Square Capital. The company's board of directors resigned pursuant to the purchase agreement, with CEO Michael Alkire and CFO Glenn Coleman continuing to serve as directors under the new ownership structure.
The acquisition concludes a strategic reassessment that Premier commenced in 2023 when the company announced it would explore strategic alternatives, including a potential sale. This review came as Premier confronted deteriorating financial performance and structural headwinds. During the third quarter ended September 30, 2025, the company reported revenue of $240 million, representing a 3% decline year-over-year. Net income from continuing operations fell 79% to $15.3 million compared to the prior-year period's $72.9 million. In response to these pressures, Premier has divested several non-core assets, including its non-healthcare GPO operations and its holdings in S2S Global. The company is also winding down its Contigo Health employee benefits subsidiary.
Patient Square Capital's acquisition aligns with the firm's focus on healthcare infrastructure and technology assets that support hospital and health system operations. Premier provides supply chain, data analytics, financial, and operational tools to healthcare and life sciences organizations, positioning it as a strategic asset within Patient Square's portfolio during a period of ongoing consolidation and digital transformation in healthcare services.
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