Aug. 4, 2015, 7:13 AM
- Premier (NASDAQ:PINC) acquires privately-held Homestead, PA-based CECity for $400M. CECity is a SaaS-based healthcare solutions provider specializing in performance management and improvement, pay-for-value reporting and professional education. It serves over 1.2M individual healthcare professionals, more than 5,000 individual practices and more than 100 professional societies, quality improvement organizations and certifying boards.
- Under the terms of the acquisition agreement, Premier will purchase 100% of CECity's outstanding stock with $250M of cash on hand plus $150M in borrowings from its revolving credit facility. The transaction should close this calendar quarter.
- Premier expects the deal to be accretive to non-GAAP EPS by $0.02 - 0.04 in fiscal 2016 (12-month period ending June 30, 2016) and $0.08 - 0.10 in fiscal 2017.