Premier, a group purchasing organization based in Charlotte, N.C., will pay $325 million to acquire two GPOS, Innovatix and Essensa Ventures, from the Greater New York Hospital Association. Under the agreement, GNYHA is also eligible for an additional $43 million if the companies meet specific performance targets in 2017.
Both Innovatix and Essensa focus on group purchasing outside of acute care — a customer base Premier does not yet hold. Innovatix serves senior living facilities, independent medical oncologists and pharmacies, while Essensa mainly works with surgery centers, imaging centers and behavioral or mental health clinics, according to the report.
At present, Premier holds a 50 percent stake in Innovatix. GNYHA holds the remaining 50 percent of Innovatix and 100 percent of Essensa.
The deal is expected to close before the end of 2016.
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