Modelling A.I. in Economics

Premier Bets on Healthcare with $800 Million Non-Healthcare Sale

Premier, a healthcare services company, announced on Wednesday that it has agreed to sell its non-healthcare operations to Omnia Partners for $800 million. The deal is expected to close in the fourth quarter of 2023.

Premier's non-healthcare operations include a travel nurse staffing company, a clinical research organization, and a consulting firm. The company said that it is selling these businesses to focus on its core healthcare business.

"This transaction allows us to sharpen our focus on our core healthcare business and to invest in the areas that will have the greatest impact on our members," said Premier CEO Keith R. Smith. "We are confident that Omnia Partners is the right partner to support our non-healthcare employees and clients as they continue to grow and succeed."

Omnia Partners is a private equity firm that specializes in healthcare investments. The firm has over $1 billion in assets under management.

"We are excited to partner with Premier to acquire its non-healthcare businesses," said Omnia Partners Managing Partner Peter R. Flynn. "These businesses have a strong track record of success, and we believe that they have the potential to grow even further under our ownership."

The sale of Premier's non-healthcare operations is the latest in a series of deals by healthcare companies to focus on their core businesses. In recent years, companies such as UnitedHealth Group and Humana have sold their non-healthcare businesses to focus on their health insurance businesses.

The sale of Premier's non-healthcare operations is expected to generate $800 million in proceeds for the company. Premier said that it plans to use the proceeds to invest in its core healthcare business and to return capital to shareholders.

People also ask

⚐ What are the top stocks to invest in right now?
☵ What happens to stocks when they're delisted?
This project is licensed under the license; additional terms may apply.