Premier And 11 Health Systems Acquire Minority Stake In Exela

(RTTNews) - Premier Inc. (PINC) and 11 leading health systems acquired a minority stake in Exela Holdings, Inc., the holding company of Exela Pharma Sciences. Under the arrangement, participating Premier member health systems are anticipated to have uninterrupted supply of 19 pharmaceutical products, and 503B pharmaceutical products made by Exela.

"Leveraging Exela's significant production capacity, this collaboration is expected to give Premier's participating members uninterrupted access to high-quality, U.S.-made pharmaceutical products and safety stock," said Michael Alkire, CEO of Premier.

Premier noted that the deal is not expected to materially impact the company's fiscal 2022 financial results.

Also, the participating health systems signed multi-year commitments to purchase a portion of their pharmaceutical products from Exela through Premier's group purchasing organization.