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, a healthcare improvement company, announced a cash dividend of $0.19 per share of Class A common stock. The dividend will be payable on June 15, 2021, to stockholders recorded as of the close of business on June 1, 2021. This decision reflects the company’s commitment to returning value to its shareholders while actively engaging in transformative healthcare initiatives across the U.S., serving over 4,100 hospitals and health systems.
Community Healthcare System has partnered with Premier (NASDAQ: PINC), enhancing access to Premier's supply chain services and performance improvement technology. This collaboration aims to optimize operational efficiency and cost savings while improving patient outcomes through advanced analytics. The financial impact of this partnership remains undisclosed. Community Healthcare System's goal is to leverage Premier's expertise to achieve growth and innovation, contributing to better healthcare delivery in Northwest Indiana.
Premier, Inc. (NASDAQ: PINC) will release its fiscal 2021 third-quarter financial results on May 4, 2021, at 6:30 a.m. ET, followed by a conference call at 8:00 a.m. ET to discuss these results. Interested parties can access the call via webcast on the company's website. Premier, Inc. is a prominent healthcare improvement company, supporting over 4,100 U.S. hospitals and health systems with integrated data, analytics, and supply chain solutions to enhance healthcare delivery and outcomes.
Premier Inc. (NASDAQ: PINC), a top healthcare improvement company, will present at the KeyBanc Capital Markets Virtual Life Sciences & MedTech Investor Forum on March 23, 2021, at 11:30 a.m. ET. The live audio webcast and replay will be accessible on the company's website. Premier represents over 4,100 U.S. hospitals and around 200,000 providers, focusing on healthcare transformation through data analytics and collaborative solutions. The organization is dedicated to enhancing healthcare delivery and outcomes nationwide.
Premier Inc. (NASDAQ: PINC) has acquired Invoice Delivery Services, LP for $80 million, enhancing its procure-to-pay solutions in healthcare. This acquisition, funded through borrowings, aims to streamline accounts payable processes by converting manual invoices to an electronic format. Currently processing over 365,000 transactions monthly, IDS will operate under the brand Remitra™. Premier anticipates this move will reduce healthcare costs by eliminating manual invoicing inefficiencies, potentially saving up to $22 billion annually. The integration is expected to support Premier's growth targets for fiscal 2022.
Premier (NASDAQ: PINC), a healthcare improvement company, has been recognized as one of the 2021 World’s Most Ethical Companies by the Ethisphere Institute, marking its 14th consecutive year receiving this honor. The recognition reflects Premier's commitment to integrity and ethical business practices, evidenced by its robust corporate compliance program. This program includes stringent ethics codes, required employee education, and adherence to regulatory requirements. The assessment process evaluates culture, governance, and environmental practices, adapting to current global challenges.
Premier Inc. (NASDAQ: PINC) announced its management team will present at the 10th Annual SVB Leerink Global Healthcare Conference on Feb. 24, 2021, at 2:20 p.m. ET. This event highlights Premier's role as a leading healthcare improvement company, serving over 4,100 U.S. hospitals and 200,000 providers. A live audio webcast and replay will be accessible on the company's website. Premier focuses on transforming healthcare through integrated data, analytics, and collaborative solutions, aiming for better care outcomes at lower costs.
Premier Inc. (NASDAQ: PINC) has announced a partnership with Apotex Corp. to supply three vital antibiotics: cefazolin, cefepime, and ceftriaxone. These medications are essential for treating various bacterial infections and have faced supply challenges. The collaboration aims to alleviate shortages, improve market competition, and promote stable pricing. Premier’s ProvideGx program ensures long-term commitments with manufacturers, facilitating increased production of critical drugs. The financial specifics of the agreement remain undisclosed.
Premier Inc. (NASDAQ: PINC) announced the retirement of CEO Susan DeVore, effective May 1, 2021, after nearly 18 years of service. Michael J. Alkire, currently president, will succeed her. DeVore will assist in the transition until June 30, 2021, and will serve as an advisor for two years post-retirement. Board Chair Terry Shaw highlighted Alkire's leadership and deep understanding of the industry as crucial for Premier's strategic goals. Alkire aims to guide the company through a transformative period in healthcare, emphasizing sustainable growth amidst ongoing challenges.
Premier, Inc. (NASDAQ: PINC) reported a 32% increase in GAAP net revenue to $422.8 million for the fiscal Q2 2021 compared to the previous year. The Supply Chain Services segment saw a 41% revenue rise, while Performance Services increased by 8%. However, GAAP net income dropped 51% to $44.9 million. Adjusted EBITDA fell 16% to $124.8 million. The Board declared a quarterly cash dividend of $0.19 per share. Despite pandemic uncertainties, management provided financial guidance for FY 2021, indicating improved visibility for the remainder of the year.
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