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Charlotte-based Premier shares climb 13% in debut

Premier Inc.’s shares rose more than 13 percent on Thursday after the Charlotte-based healthcare company debuted on the Nasdaq exchange with an initial public offering that raised more than $760 million.

Premier priced its shares at $27, higher than the $23 to $26 range it had disclosed last week. By the market’s close, the stock, trading under the ticker “PINC,” had climbed to $30.65.

The company, which moved its headquarters to Charlotte from San Diego in 2009, provides data and consulting services to its network of hospitals and other health care organizations. It aims to help hospitals and health systems improve performance and cut costs.

In its most recent fiscal year, Premier generated net income of $375 million on revenue of $869 million, according to a securities filing last week.

After the offering, about 80 percent of the company’s common stock will be owned by the 181 U.S. hospitals, health systems and other health care organizations that own the company.

JPMorgan Chase, Bank of America Merrill Lynch and Wells Fargo are the lead underwriters on the deal.

In connection with the offering, the company's board has 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.

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