Premier Inc., a Charlotte-based alliance of 2,900 U.S. community hospitals, is expected to go public next week with a stock offering that could raise more than $731 million.
The company is among about a dozen scheduled to hold initial public offerings next week, according to IPO tracker Renaissance Capital. Premier disclosed plans to go public last month, and this week said in a filing that it expected to sell 28.2 million shares at a price ranging from $23 to $26.
Premier, which moved its headquarters to Charlotte from San Diego in 2009, provides data and consulting services to its network of hospitals and other healthcare organizations. In its most recent fiscal year, it generated net income of $375 million on revenue of $869 million, according to this weeks filing.
After the offering, about 80 percent of the companys common stock will be owned by the 181 U.S. hospitals, health systems and other health care organizations that own the company.
Premier has applied to list its shares on the NASDAQ under the ticker PINC. JPMorgan Chase, Bank of America Merrill Lynch and Wells Fargo are the lead underwriters on the deal.
In connection with the offering, the companys board awarded Chief Executive Officer Susan DeVore, Chief Operating Officer Michael Alkire and Chief Financial Officer Craig McKasson grants of stock options, restricted stock and performance shares valued at a total of about $37 million, according to the filing.
A Premier spokesman declined to comment on the IPO.
Premier isnt the only Charlotte-area company with an offering in the works. Hotel chain Extended Stay America last month also disclosed plans for an IPO.
Rothacker: 704-358-5170; Twitter: @rickrothacker
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