(Reuters) -Healthcare service provider Premier said on Monday it would be acquired by an affiliate of investment firm Patient Square Capital in a deal valued at about $2.6 billion.

Patient Square will pay $28.25 in cash per share for Premier, a premium of 9.7% to the stock’s last close on Friday.

Premier works with hospitals, health systems, and other providers to cut costs and improve patient care by coordinating the purchase of equipment and supplies.

The deal is expected to close by the first quarter of 2026.

Shares of North Carolina-based Premier rose 8.4% to $27.90 premarket.

(Reporting by Christy Santhosh in Bengaluru; Editing by Shilpi Majumdar and Shailesh Kuber)

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