Welcome to our dedicated page for Premier news (Ticker: PINC), a resource for investors and traders seeking the latest updates and insights on Premier stock.
Premier, Inc. (NASDAQ: PINC) is a leading national healthcare solutions organization based in Charlotte, North Carolina. The company collaborates with healthcare organizations to improve supply chain management, decrease healthcare costs, integrate data, and enhance the health of communities. Premier operates one of the most comprehensive databases of actionable data, best practices, and cost reduction strategies, empowering its members to collaborate efficiently and enhance quality outcomes while reducing costs.
Premier Inc.'s core business is organized into two main segments. The first is Supply Chain Services, which accounts for approximately 70% of the company's fiscal 2019 revenue. This segment provides primary supply chain services to large hospital systems and, more recently, to alternate outpatient locations as part of its expanding footprint. The second segment, Performance Services, contributes around 30% of the revenue and focuses on consulting and technology platforms offered through software-as-a-service-based subscriptions.
Among Premier's recent achievements is its partnership with LANGaware, a leader in digital cognitive and behavioral health diagnostics. This collaboration aims to leverage Premier's PINC AI™ Healthcare Database to develop novel therapeutics for neurodegenerative and behavioral health diseases. Through this partnership, Premier's PINC AI™ Applied Sciences (PAS) will utilize real-world data (RWD) to support early patient identification and evidence-based clinical decisions, ultimately improving patient outcomes and reducing healthcare costs.
Premier Inc.'s PINC AI™ technology and services platform boasts over two decades of comprehensive data, including cost, quality, and operational data from 45% of U.S. hospital discharges, 2.7 billion hospital outpatient and clinic encounters, and 177 million physician office visits. This extensive data repository provides actionable intelligence to improve outcomes, support financial performance, and enable success in new payment models.
Overall, Premier Inc. stands out in the healthcare industry by offering a combination of supply chain management, consulting services, and data-driven performance solutions that drive innovation and efficiency. The company's continued strategic partnerships and technological advancements position it as a significant player in the sector, committed to transforming patient care and improving healthcare delivery.
Premier, Inc. (NASDAQ: PINC) has reduced its Board of Directors from 15 to 11 members, effective August 31, 2021, to improve governance. This change results in 90% of the Board being independent and 40% female or racially diverse, with plans to add another diverse member. Chairman Terry Shaw stated this move reflects stockholder feedback and aims to enhance value creation while ensuring a balanced mix of perspectives. The voluntary resignations of five directors were not due to disagreement with management. The Board determined that recent structural changes improved director independence.
Premier, Inc. (NASDAQ: PINC) reported a 40% increase in GAAP net revenue for Q4 FY2021, totaling $481.5 million, driven by a 51% surge in Supply Chain Services revenue. However, GAAP net income fell to $50.7 million from $55.4 million year-over-year. Adjusted EBITDA declined by 3% to $116.5 million, while adjusted net income increased 4% to $74.0 million. The company also initiated a $250 million stock repurchase program and raised its dividend to $0.20 per share. For FY2022, the outlook includes a focus on innovative solutions aimed at enhancing healthcare quality and reducing costs.
ChristianaCare has chosen Premier's (NASDAQ: PINC) supply chain solutions to enhance operational efficiency, improve quality, and boost revenue. This partnership will allow ChristianaCare to access Premier's technology suite, analytics, and expert support, driving cost reduction and growth. Andy Brailo from Premier expressed excitement about the collaboration, highlighting the benefits of transparency and efficiency. ChristianaCare aims to leverage Premier's resources for better supply chain management while remaining committed to effective and affordable care.
UnityPoint Health has partnered with Premier (NASDAQ: PINC) to enhance its supply chain management and improve healthcare delivery. This partnership will utilize Premier's PINC AI™ technology for better analytics and insights, particularly in reducing pharmaceutical costs and improving outcomes. The collaboration is built on a previous relationship, dating back to 2015, and aims at operational efficiency and cost savings. The financial implications for Premier in fiscal year 2022 are expected to be minimal.
Premier Inc. (NASDAQ: PINC) has rebranded its technology and services platform to PINC AI to emphasize its expansion of AI technologies. This platform integrates over 20 years of healthcare data, aiding in performance improvement and alternative payment models. Key offerings include clinical intelligence, margin improvement, and value-based care solutions, aimed at enhancing patient outcomes and operational efficiencies. With a vast network of over 4,100 hospitals and health systems, PINC AI positions itself as a catalyst for healthcare innovation and diversification of revenue streams.
Premier, Inc. (NASDAQ: PINC) has approved a $250 million share repurchase program for fiscal year 2022 and announced a 5.3% increase in its quarterly cash dividend to $0.20 per share, payable on September 15, 2021. This reflects the company's robust financial position and commitment to returning capital to shareholders. The company will initiate the buyback program after reporting its fourth-quarter results on August 17, 2021, although the actual execution may vary.
Premier Inc. (NASDAQ: PINC) announced that its management team will join a fireside chat at the KeyBanc Capital Markets Virtual Technology Leadership Forum on August 10, 2021, at 1:20 p.m. ET. This event will focus on the company's commitment to improving healthcare, supported by an alliance of over 4,100 U.S. hospitals. The live audio webcast and replay will be accessible on Premier's website. Premier is dedicated to transforming healthcare through integrated data, analytics, and supply chain solutions.
Premier, Inc. (NASDAQ: PINC) will announce its financial results for fiscal 2021's fourth quarter and full year on August 17, 2021, at approximately 6:30 a.m. EDT. A conference call will be held at 8:00 a.m. EDT to discuss these results. The call will be accessible via a webcast on the company's website, with a replay available for one year afterwards. Premier, Inc. is a prominent healthcare improvement firm that partners with over 4,100 hospitals to enhance care delivery and costs through integrated services and analytics.
Honeywell and Premier Inc. are partnering to enhance the domestic production of nitrile exam gloves, aiming to produce at least 750 million gloves within the first year. This collaboration addresses ongoing shortages exacerbated by the COVID-19 pandemic, with demand exceeding supply by 40%. Over 80 health systems are committed to purchasing these gloves, ensuring better access for healthcare providers. The financial terms remain undisclosed and are not expected to significantly impact either company's financials.
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