Reuters: Regulatory News: Premier Inc sets IPO price range at $23-$26/shr

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Premier Inc sets IPO price range at $23-$26/shr Sep 16th 2013, 11:56 Sept 16 | Mon Sep 16, 2013 7:56am EDT Sept 16 (Reuters) - Premier Inc, which supplies medical and surgical products to hospitals, is set to raise as much as $733 million from its initial public offering of 28.2 million shares after it said the shares were expected to be priced between $23 and $26 each. Current owners - 181 hospitals, health systems and healthcare organizations - will own 80 percent of the company in Class B shares after the IPO. JP Morgan, BofA Merrill Lynch and Wells Fargo Securities are the lead underwriters to the offering, Premier Inc said in a filing with regulators. The company's net profit rose to $7.4 million in the year ended June 30, 2013 from $3.9 million a year earlier. Revenue grew 13 percent to $869.3 million.

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