SECURITIES AND EXCHANGE COMMISSION
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Item 8.01. Other Events.
On March 2, 2021, Premier, Inc. (“Premier”) announced that its newly formed consolidated subsidiary, Premier IDS, LLC, acquired substantially all the assets and certain liabilities of Invoice Delivery Services, LP (“IDS”) for $80.0 million in cash, subject to adjustment based on IDS’ actual indebtedness and net working capital at closing. The acquisition closed on March 1, 2021 and was funded with borrowings under Premier’s credit facility.
IDS offers digitization technologies that convert paper and portable document format (PDF) invoices to an electronic format to automate, streamline and simplify accounts payable processes in healthcare. IDS’ solutions include those for electronic invoicing and tracking, as well as digital payments.
The filing of this Current Report on Form 8-K shall not be deemed an admission by Premier that the transaction described herein is material.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|Name: Susan D. DeVore|
|Title: Chief Executive Officer|
|Date: March 2, 2021|