Premier shares surge on report Patient Square Capital is exploring acquisition
Investing.com -- Premier Inc shares rose over 8% in premarket trading Monday following a Bloomberg News report that Patient Square Capital is exploring an acquisition of the health-care services company.
The report, published Friday, cited people familiar with the matter who indicated that deliberations between the parties are still at an early stage. There is no guarantee that these discussions will result in a deal with Patient Square Capital or any other potential buyer.
Leerink Partners analyst Michael Cherny commented on the news in a note, stating, "Given that Premier has already attempted one sale process, seeing another one crop up cannot be considered shocking by any means."
Cherny added, "We see a reasonable basis as to why PINC would explore a transaction, as to us this has always seemed to be a better business than is reflected in the stock."
The analyst noted that Premier’s stock should react favorably to the news. Premier has had a solid year of performance but remains "somewhat of an outlier as the only publicly traded GPO," according to Cherny.
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