IRVING, Texas--(BUSINESS WIRE)--Vizient, Inc. today announces that it has signed an agreement under which it will acquire Intalere from Intermountain Healthcare, enhancing itself as a leader in the health care supply chain. Intermountain Healthcare will now partner with Vizient for supply chain solutions and services, thereby expanding their current relationship with Vizient in clinical and cost analytics.
“This acquisition builds on the strengths of both Vizient and Intalere and furthers our ability to meet the growing needs of the increasingly diverse range of members and customers we serve," said Byron Jobe, Vizient’s president and chief executive officer.
The planned acquisition will support and fuel Vizient’s mission to strengthen members’ delivery of high value care by aligning cost, quality and market performance by:
- Reinforcing our commitment to supply chain as a strategic asset for health care providers;
- Expanding our non-acute footprint to create additional opportunities through our Vizient subsidiary, Provista; and
- Increasing our presence in smaller and/or rural acute facilities, helping support these communities with local health care services.
“Intermountain Healthcare looks forward to continuing to work together with Vizient in our common goal of providing patients access to high-quality care at the most affordable cost,” said Bert Zimmerli, chief financial officer and executive vice president at Intermountain. “This aligns very well with our aspiration of executing a population health strategy by providing value-based care and services to an increased number of patients, families, and communities.”
The transaction is anticipated to close during Q1 2021, pending standard regulatory review. J.P. Morgan is serving as exclusive financial advisor to Intermountain Healthcare and Hall Render Killian Heath & Lyman P.C. is serving as counsel to Intermountain for the transaction. H2C Securities, Inc. is serving as Vizient’s exclusive financial advisor, and Greenberg Traurig, LLP is acting as Vizient’s legal advisor for the transaction.
About Vizient, Inc.
Vizient, Inc. provides solutions and services that improve the delivery of high-value care by aligning cost, quality and market performance for more than 50% of the nation’s acute care providers, which includes 95% of the nation’s academic medical centers, and more than 20% of ambulatory providers. Vizient provides expertise, analytics and advisory services, as well as a contract portfolio that represents more than $100 billion in annual purchasing volume, to improve patient outcomes and lower costs. Vizient has earned a World’s Most Ethical Company designation from the Ethisphere Institute every year since its inception. Headquartered in Irving, Texas, Vizient has offices throughout the United States. Learn more at www.vizientinc.com.