In a move that could reshape the healthcare technology landscape, Premier Inc. announced Monday it will go private following a $2.6 billion buyout by healthcare investment giant Patient Square Capital—a transaction orchestrated by four powerhouse law firms.

The deal, valued at $28.25 per share in cash, represents a nearly 24% premium over Premier’s 60-day volume-weighted average share price as of Sept. 5, according to the company’s statement.

The Legal Architects Behind the Deal

Top-tier law firms lined the table: Wachtell Lipton Rosen & Katz advised Premier, while Cravath Swaine & Moore LLP guided the transaction committee of Premier’s board. On the buyer’s side, Kirkland & Ellis LLP and Ropes & Gray LLP represented Patient Square.

Premier’s Vision and Next Chapter

Headquartered in Charlotte, North Carolina, Premier has been a Nasdaq-listed player since 2013, offering integrated data analytics, supply chain solutions, consulting, and collaboratives aimed at improving community health.

CEO Michael J. Alkire praised the public era’s role in building supply chain strength and technology, but emphasized that going private will “enhance financial flexibility” and accelerate innovation. “As the healthcare landscape continues to rapidly evolve, private ownership allows us to capitalize on opportunities and push the envelope of tech-enabled solutions,” Alkire said.

Once the transaction is finalized, Premier will delist from the Nasdaq.

Patient Square’s Expanding Portfolio

Patient Square, a healthcare-focused firm managing over $14 billion in assets, framed the acquisition as an opportunity to expand Premier’s already robust offerings. Founding partner Neel Varshney called Premier an “innovator of essential services,” stressing its potential for growth in supply chain services, data, technology, and consulting solutions.

The Power Players

• Wachtell team for Premier: led by Daniel Neff and Meng Lu, with experts spanning corporate, antitrust, tax, and finance.

• Cravath team for Premier’s board: led by Richard Hall and Daniel Cerqueira, with finance partner George Zobitz.

• Financial advisers: Goldman Sachs & Co. LLC and BofA Securities Inc. for Premier.

• Latham & Watkins LLP: advised financing sources, with a multi-partner team.

• Kirkland & Ellis team for Patient Square: included corporate and finance partners such as Maggie Flores, Daniel Wolf, and Michael Weisser.

• Ropes & Gray team for Patient Square: led by partners Christina Bergeron and Eve Brunts.