Premier and 15 leading health systems acquired a minority stake in Prestige Ameritech, a domestic manufacturer of face masks, including N95 respirators and surgical masks, according to a press release.
Under the agreement, the health systems committed to purchase a portion of all face masks they use annually from Prestige Ameritech for up to six years, inclusive of a three-year renewal option.
Health systems participating in the initial investment include AdventHealth (Altamonte Springs, FL), Adventist Health (Roseville, CA), Advocate Aurora Health (Downers Grove, IL, and Milwaukee, WI), Ballad Health (Johnson City, TN), Banner Health (Phoenix, AZ), Baptist Health South Florida (Miami, FL), CommonSpirit Health (Chicago, IL), Genesis Health System (Davenport, IA), Henry Ford Health System (Detroit, MI), McLaren Health Care (Grand Blanc, MI), Riverside Health System (Newport News, VA), St. Luke’s University Health Network (Bethlehem, PA), Texas Health Resources (Arlington, TX), Universal Health Services, Inc. (King of Prussia, PA) and University Hospitals (Cleveland, OH).
The arrangement with Prestige Ameritech is part of Premier’s newly announced strategy to invest with its members in domestic and geographically diverse suppliers of PPE and other medical equipment currently in short supply due to the COVID-19 pandemic.
PPE products critical for the daily operations of health systems are overwhelmingly sourced overseas, with approximately 80 percent coming from China and Southeast Asia.
