Premier Inc sets IPO price range at $23-$26/shr
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.
The company intends to list itself on the Nasdaq under the symbol "PINC."