Premier, Inc. - PINC STOCK NEWS

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.

Premier, Inc. (NASDAQ: PINC) announced a cash dividend of $0.19 per share of Class A common stock. This dividend is payable on March 15, 2021, to stockholders on record as of the close of business on March 1, 2021. The company is a leader in healthcare improvement, collaborating with over 4,100 hospitals and approximately 200,000 providers. Premier focuses on enhancing care quality while reducing costs through integrated data, analytics, and supply chain solutions.

Premier (NASDAQ: PINC) has collaborated with Pfizer to supply five essential medications, including diazepam and fentanyl citrate, crucial for patient care amid rising COVID-19 demands. This partnership ensures a sustainable supply to healthcare providers, addressing both immediate and long-term medication needs. The demand for these drugs has surged, especially fentanyl, which has seen a 7.5X increase during peak COVID-19 periods. Premier's ProvideGx program aims to secure adequate supplies, supported by Pfizer’s investments in manufacturing capacity.

Premier, Inc. (NASDAQ: PINC) will release its fiscal 2021 second quarter financial results on February 2, 2021, at 6:30 a.m. ET. A conference call to discuss these results will be held at 8:00 a.m. ET, available for live webcast on the company's website. Participants can dial in using specific toll-free numbers. Premier, Inc. is a leading healthcare improvement company, supporting over 4,100 hospitals and health systems. The company focuses on transforming healthcare through integrated data analytics and supply chain solutions.