M&A · Industrials · Services-Management Services
Patient Square Capital to acquire Premier, Inc.
Announced Sep 22, 2025 · Closed Nov 25, 2025
Deal value$2.60BEV $2.53B
Premium9.7%To unaffected price
EV / Adj. EBITDA8.3x2.5x EV / Revenue
ConsiderationAll cash$28.25 per share
Transaction
- Acquirer
- Patient Square Capital
- Target
- Premier, Inc. (PINC)
- Buyer type
- Private equity
- Offer price per share
- $28.25
- Enterprise value
- $2.53B
- Status
- Closed Nov 25, 2025
Deal protections
- Break fee (target pays)
- $66.2M · 2.5%
- Reverse fee (buyer pays)
- $169M · 6.5%
- Go-shop
- —
- Financing
- No financing condition
Advisors
- To the acquirer
- Jefferies, Santander
- To the target
- Goldman Sachs, BofA Securities
- Goldman Sachs fee
- $5.4M
- BofA Securities fee
- $13.5M
Sector context · Industrials
- Comparable deals
- 99 in the prior 24 months
- Premium
- 9.7% vs. 39.5% sector median
- EV / Adj. EBITDA
- 8.3x vs. 9.4x sector median
- Break fee
- 2.5% vs. 2.7% sector median
Timeline
- AnnouncedSep 22, 2025
- Proxy filedOct 8, 2025
- Definitive proxyOct 22, 2025
- Shareholder voteNov 21, 2025
- ClosedNov 25, 2025
Valuation · fairness opinions
Other analysisGoldman Sachs$27.59$36.58
Future share priceGoldman Sachs$22.18$30.86
Premiums paidGoldman Sachs$31.28$37.91
52-week trading rangeGoldman Sachs$22.46$29.46
Trading comparablesBofA Securities$24.80$32.30
Trading comparablesBofA Securities$21.25$28.55
Trading comparablesBofA Securities$22.25$33.40
Discounted cash flowBofA Securities$26.90$34.10
52-week trading rangeBofA Securities$17.46$26.28
Offer $28.25
Implied value per Premier, Inc. share by analysis, from Goldman Sachs and BofA Securities · DCF discount rate 8.5%–10.5%.