Healthcare firm Premier explores strategic alternatives (updated)
08/05/2023 21:54
(Adds details from the release and shares in paragraph 2)
May 8 (Reuters) - Premier Inc PINC.O said on Monday
its board was evaluating strategic alternatives and had
established a special committee of independent directors for
potential options, including a sale of part or all of the
company.
Shares in the healthcare services provider, which said it
would also consider recapitalization or other partnership
opportunities, rose 6% in extended trading.
Premier, which purchases supplies on behalf of hospitals,
said there can be no assurance that the review process would
result in any transaction or strategic outcome.
The company reaffirmed its fiscal year 2023 forecast and
said due to the strategic review it does not expect to provide
forecast for 2024 when it reports fourth-quarter results in
August.
Premier said BofA Securities Inc was serving as its
financial adviser and McDermott Will & Emery LLP was the legal
counsel while J.P. Morgan Securities LLC was the special
committee's financial adviser and Cravath, Swaine & Moore LLP
its legal counsel.
(Reporting by Ananya Mariam Rajesh in Bengaluru
Editing by Vinay Dwivedi)
((AnanyaMariam.Rajesh@thomsonreuters.com ; Twitter: https://twitter.com/AnanyaMariam;))