Premier to acquire Stanson Health in $51.5M deal
Premier signed an agreement to acquire Stanson Health, a software-as-a-service-based provider of clinical decision support tools that are integrated directly into the electronic health record workflow, providing real-time, patient-specific best practices at the point of care. In addition, Stanson is also developing a prior authorization product that, once finalized, is expected to provide near real-time prior authorization decisions for medical and pharmacy benefits. This is expected to save providers and payers time and expense while enhancing patient and provider satisfaction. Premier will utilize existing cash on hand to fund the $51.5M acquisition. The acquisition also provides for an additional earn-out opportunity of up to $15M based on certain product delivery and revenue targets. The acquisition is not expected to materially impact earnings in FY2019, and is expected to be modestly accretive in future years. The transaction is expected to close in Premier's fiscal second quarter ending Dec. 31, 2018, subject to customary closing conditions. The Stanson Health team is expected to continue to operate remotely or out of existing headquarter offices in Southern California. Dr. Weingarten will continue to lead the business unit, reporting to Leigh Anderson, President of Premier's Performance Services segment.