Premier plans to draw down on revolver for buyout of Acurity, Nexera

By Wendy Van Sickle

Columbus, Ohio, Feb. 4 – Premier Inc. plans to draw down on its unsecured revolving credit facility to fund an acquisition by two newly formed subsidiaries, according to an 8-K filing with the Securities and Exchange Commission.

The subsidiaries entered into an asset purchase agreement on Monday to acquire substantially all the assets of Acurity, Inc. and Nexera, Inc. for $291.5 million.

The amount payable at closing is about $166.1 million. An additional $120 million will be paid to sellers in four equal annual installments of $30 million on or about June 30, 2021, 2022, 2023 and 2024.

Acurity, a regional group purchasing organization, has been a customer and strategic partner of Premier for more than 24 years. Nexera, a hospital financial improvement consulting firm, partners with health care organizations to improve hospital and health system performance, with a significant focus on supply chain enhancement and transformation.

The transaction is expected to close on or about Feb. 28.

Premier is a healthcare improvement company based in Charlotte, N.C.

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