Charlotte-based Premier acquires two health care firms for 325M

Charlotte-based Premier Inc. reached an agreement to acquire Innovatix LLC and Essensa Ventures LLC – two health care purchasing organizations – for $325 million.

The transaction, announced Monday, is expected to be completed before the end of 2016, subject to customary closing conditions. In the 12 months ended June 30, 2016, the two acquired companies generated approximately $88 million in revenue and $50 million in net income.

Currently, Premier owns 50 percent of Innovatix. GNYHA Holdings LLC an affiliate of the Greater New York Hospital Association, owns the other 50 percent of Innovatix and 100 percent of Essensa.

Both Innovatix and Essensa are care group purchasing organizations (GPOs) serving institutional health care providers that are outside the acute care hospital or health system.

Read more here: http://www.charlotteobserver.com/news/business/article117692053.html