Deals (w/e 11/28/25)

Patient Square Takes Premier Private in a $2.6B Healthcare Carve-Up

Patient Square Capital has officially taken Premier, Inc. private in a $2.6 billion all-cash deal, pulling a major healthcare-services operator off the public markets. Since its IPO days, Premier has struggled under the weight of a complex structure and uneven performance. Exactly the kind of misunderstood asset Patient Square loves to reposition. This is a classic “public-to-private for operational clarity” play: simplify the business, sharpen the value prop for hospital systems, and unlock margin buried under legacy contracts and governance. The broader signal? Healthcare rollups and provider-adjacent platforms are back in favor, and sponsors with sector depth are moving first. Link