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Premier closes Stanson Health acquisition, enters new 5-year credit facility

Premier Inc. closed its $51.5 million acquisition of Los Angeles-based healthcare technology company Stanson Health Inc.

Stanson provides clinical decision support tools that are integrated into the electronic health record workflow, providing real-time, patient-specific best practices at the point of care.

Meanwhile, Charlotte, N.C.-based Premier's units also entered into a new five-year unsecured revolving credit facility that provides up to $1 billion of borrowing ability. The facility's maximum amount can also be increased by a total of $350 million, subject to the approval of the lenders.

The new facility, which matures Nov. 9, 2023, replaces and terminates the company's previous $750 million senior unsecured revolving credit facility scheduled to mature June 24, 2019. The prior loan deal — with outstanding borrowings, accrued interest and fees and expenses totaling $100.7 million — was paid using $100 million in borrowings under the new credit facility and cash on hand.

The new credit facility was provided through a syndicate arranged by Wells Fargo Securities LLC and Merrill Lynch Pierce Fenner & Smith Inc.