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 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.
Premier Inc. (NASDAQ: PINC) announced its participation in the 39th Annual J.P. Morgan Virtual Healthcare Conference scheduled for January 12, 2021, at 2:00 p.m. ET. The management team will engage in a presentation and fireside chat during this event. Interested parties can access live audio webcasts and replays on the company’s website.
Premier is a healthcare improvement company that collaborates with over 4,100 hospitals and 200,000 providers to enhance care quality and reduce costs through innovative solutions.
Health Resource Services (HRS) has partnered with Premier Inc. (NASDAQ: PINC) to enhance national contracting support. This partnership allows HRS access to a wider range of product contracts and savings opportunities, including nearly 600 negotiated contracts across various trade classes. HRS President Ken Freeman emphasized the importance of this alliance for improving member services and achieving performance goals. Premier's extensive field support team will aid in contract launches, aiming for double-digit savings for HRS members. Financial terms of the agreement were not disclosed.
Premier Inc. (NASDAQ: PINC), a leader in healthcare improvement, will participate in a fireside chat at the Guggenheim Digital Health Virtual Summit on Dec. 8, 2020, at 4:00 p.m. ET. The event will not be broadcast live, but a replay will be available on the company’s website shortly after the event concludes. Premier collaborates with over 4,100 hospitals and 200,000 providers, focusing on data-driven healthcare solutions and improved patient outcomes.
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