DDS acquires MSS division of MDSI
Distributor Data Solutions Inc (DDS) (Alpharetta, Ga.) acquired the sales data processing business of Medical Surgical Solutions (MSS), a division of Medical Distribution Solutions Inc (MDSI) (Lawrenceville, Ga.). MSS is a data processing, revenue optimization and sales reporting service for suppliers in the medical products industry. DDS will assume the daily operations of the business unit and consolidate the processing functions into its Alpharetta, Georgia facility. “The acquisition of the MSS business advances our strategy and vision as the leader in sales data management solutions for suppliers. This acquisition will enhance our client base and strengthen our service offering to all of our customers,” said Danny Adams, president and CEO of DDS. The acquisition builds on the company’s continued success and growth.
Poll on GPOs
In a poll on The Journal of Healthcare Contracting’s GPO LinkedIn Page, the following question was asked: “In the last couple years a number of large IDNs have started their own GPO. If you think that trend continues how many IDNs do you see starting a GPO in the next 1-3 years?”
Premier goes public with $760 million initial public offering
Charlotte, N.C.-based Premier Inc. priced its initial public offering of 28,151,958 shares of its Class A common stock at $27 per share, for an approximate total value of $760.1 million. The shares begin trading on the NASDAQ Global Select Market on September 26, 2013 under the ticker symbol “PINC.” The underwriters have been granted a 30-day option to purchase from Premier up to an additional 4,222,793 shares of Class A common stock at the initial public offering price, less the underwriting discount, to cover over-allotments, if any. About 75 percent of the proceeds will go to Premier’s 181 member-owner hospitals in the form of stock that can be sold over the next seven years. New investors were issued Class A shares, while Premier’s hospital owners received Class B shares. Under a new organizational structure, Premier’s owners will retain about 80 percent of the voting power in the company, with Class A shareholders receiving the remaining 20 percent of the voting power and all of the economic interest.