Premier Acquired by Patient Square Capital in $2.6B Take-Private Deal

The transaction, first announced in September, closed earlier than the company’s initial projection of the first quarter of 2026.

Premier, a provider of technology, supply chain, and operational solutions to healthcare and life sciences organizations, was taken private after more than a decade of trading on Nasdaq.

Patient Square Capital, a healthcare-focused investment firm, acquired the company in a $2.6 billion deal.

Under the acquisition terms, Premier stockholders will receive $28.25 per share in cash. The transaction, first announced in September, closed earlier than the company’s initial projection of the first quarter of 2026.

Following the acquisition, Premier will operate as a wholly owned subsidiary of Patient Square Capital, according to a securities filing. Premier’s board resigned under the terms of the purchase agreement, with CEO Michael Alkire and CFO Glenn Coleman remaining as directors.

The acquisition comes years after Premier first announced in 2023 that it was exploring strategic alternatives, including a potential sale. The company had faced revenue challenges and declining stock prices amid financial headwinds from its provider customer base.

Premier reported revenue of $240 million for the quarter ended September 30, 2025, marking a 3% decline year over year. Net income from continuing operations fell to $15.3 million, down 79% from $72.9 million during the same period in 2024.

The firm has also divested non-core assets, including its non-healthcare group purchasing operations and holdings in healthcare and foodservice company S2S Global. Premier is winding down operations at its employee health benefits subsidiary, Contigo Health, the company reported earlier this month.

Patient Square Capital’s portfolio includes other healthcare firms such as value-based primary care provider ChenMed, acute care telemedicine company Access Telecare, and revenue cycle management firm CorroHealth. The acquisition expands Patient Square’s presence in healthcare services, technology, and operational solutions.

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