Healthcare firm Premier explores strategic alternatives
(Reuters) -Premier Inc 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 BengaluruEditing by Vinay Dwivedi)