July 28, 2014 7:12 PM ET

Healthcare Providers and Services

Company Overview of Premier Healthcare Alliance, LP

Company Overview

Premier Healthcare Alliance, LP operates as a health care strategic alliance enterprise and enables the hospitals to improve their clinical and financial performance in the United States. It offers group purchasing and supply chain services, clinical and operational performance measurement, benchmarking, and insurance programs to its members and clients. Premier Healthcare Alliance, LP was formerly known as Premier Purchasing Partners, LP. The company was founded in 1990 and is based in Charlotte, North Carolina. Premier Healthcare Alliance, LP operates as a subsidiary of Premier, Inc.

13034 Ballantyne Corporate Place

Charlotte, NC 28277

United States

Founded in 1990

Phone:

704-816-5092

Fax:

704-816-5092

Key Executives for Premier Healthcare Alliance, LP

Chief Executive Officer and President
Age: 55
Chief Executive Officer and President
Chief Financial Officer and Senior Vice President
Age: 49
Chief Operating Officer
Age: 51
President of Premier Insurance Management Services
Compensation as of Fiscal Year 2014.

Premier Healthcare Alliance, LP Key Developments

Premier Healthcare Alliance, L.P., Premier Supply Chain Improvement, Inc. and Premier Healthcare Solutions, Inc. Enter into Unsecured Credit Agreement

On June 24, 2014, Premier Healthcare Alliance, L.P. along with its wholly owned subsidiaries, Premier Supply Chain Improvement, Inc. and Premier Healthcare Solutions, Inc., as co-borrowers, Premier Services, LLC and certain domestic subsidiaries of services, as guarantors, Wells Fargo Bank, National Association, as administrative agent, Swing Line Lender and L/C Issuer, other lenders from time to time party thereto, and Wells Fargo Securities, LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, as Joint Lead Arrangers and Joint Book Managers, entered into an unsecured credit agreement, dated as of June 24, 2014. The credit agreement has a maturity date of June 24, 2019. The credit agreement provides for a revolving credit facility of up to $750.0 million with a $25.0 million subfacility for standby letters of credit and a $75.0 million subfacility for swingline loans. The credit agreement also provides that co-borrowers may from time to time request an increase in the maximum principal amount of the credit facility up to an aggregate of $250.0 million, subject to the approval of the lenders providing such increase. The credit agreement contains an unconditional and irrevocable guaranty of all obligations of co-borrowers under the credit agreement by the current and future guarantors. Premier is not a guarantor under the credit agreement. The credit agreement refinanced the loan agreement, dated as of December 16, 2011, among PHSI, PHA, certain subsidiary guarantors and Wells Fargo Bank, National Association, and the prior loan agreement was terminated on the closing date. The prior loan agreement included a $100.0 million senior secured revolving credit facility with an accordion feature providing the ability to borrow an additional $100.0 million. The prior loan agreement was scheduled to mature on December 16, 2014. In connection with the termination of the prior loan agreement, all obligations and rights under the related security agreement, dated December 16, 2011, by and among PHSI, PHA, certain subsidiary guarantors and Wells Fargo Bank, National Association were also simultaneously terminated. At the time of its termination, there were no outstanding borrowings under the prior loan agreement.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
February 5, 2014
Global Healthcare Exchange, LLC
 

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