Premier unit Contigo Health to buy assets including 900K healthcare providers for $177.5M

Sep. 06, 2022 5:46 PM ETPINCBy: Anuron Mitra, SA News Editor

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Maksim Labkouski

  • Premier (PINC) on Tuesday said its unit Contigo Health will acquire key assets from TRPN Direct Pay and Devon Health for $177.5M in cash.
  • Contigo Health is a provider of services that optimize employee health benefits.
  • The acquired assets will include contracts with more than 900K providers across 4.1M U.S. locations, including hospitals, physicians, laboratories and home health services, among others, PINC said in a statement.
  • As per the deal, Contigo Health will also license TRPN's proprietary cost containment technology.
  • PINC expects the deal to be accretive to its adj. EPS by $0.01 to $0.02 in fiscal 2023.
  • PINC expects the deal to result in $40M to $60M in incremental annual net revenue.
  • The deal is expected to close in Q2 of fiscal 2023.
  • Class A shares of PINC earlier ended slightly higher at $35.27.

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