News Headlines Article

Hospitals cash in Premier shares
Modern Healthcare

About one-fifth of the hospitals, health systems and purchasing groups that own the Premier healthcare alliance made nearly $120 million by selling shares in a secondary offering underway this month.

Premier, a Charlotte, N.C.-based group purchasing organization and data and analytics provider, filed an initial public offering last year, making it one of two publicly traded GPOs.

Premier’s restructuring included an option for the 177 organizations that are both members and owners of Premier to convert their Class B shares for Class A public shares and sell one-seventh of those shares each year for seven years. Doing this allows the member-owners to make money off their ownership in Premier for the first time.