Premier (PINC) said Tuesday it signed accelerated share repurchase deals with JPMorgan Chase's (JPM) JPMorgan Chase Bank to buy back a total of $200 million of the company's class A common shares.
Under the terms, Premier will pay $200 million to JPMorgan and will receive initial deliveries of roughly nine million of its common shares, or $160 million, from the bank by Wednesday. The company said it intends to finance the buyback under its current credit facility.
The accelerated share repurchase plan was approved under the company's $1 billion stock repurchase authorization by the board, Premier added.
The healthcare improvement company said it expects to complete the program by no later than fiscal Q1 2026.
Shares of the company were up 2% in recent Tuesday premarket activity.
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