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) 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.
Premier announced a joint venture with 34 health systems and DeRoyal Industries to produce isolation gowns domestically. The initiative aims to reduce reliance on overseas suppliers, especially highlighted by COVID-19 shortages. The new facility near Knoxville, TN will use U.S.-sourced materials and is designed for automated, scalable production. Co-investors have committed to long-term purchases, supporting sustainable supply chain resilience. However, revenues from this venture are not expected to impact Premier's fiscal 2021 results materially.
Premier, Inc. (NASDAQ: PINC), a healthcare improvement company, will participate in a fireside chat at the 29th Annual Credit Suisse Virtual Healthcare Conference on November 10, 2020, at 11:00 a.m. ET. The event will feature members of its management team discussing the company's role in transforming healthcare.
Live audio webcasts and replays of the presentation will be accessible on Premier's website. The company unites over 4,100 hospitals and 200,000 providers to enhance healthcare delivery across the U.S.
Premier, Inc. (NASDAQ: PINC) reported a 15% increase in GAAP net revenue for fiscal Q1 2021, totaling $346.9 million, up from $302.4 million the previous year. GAAP net income surged to $180.7 million compared to $70.9 million in Q1 2020. The Supply Chain Services segment saw a 14% revenue increase to $253.7 million, driven by high demand for critical supplies amid the COVID-19 pandemic. However, adjusted EBITDA fell 21% to $110.7 million due to amended GPO agreements and pandemic impacts. Premier is not providing fiscal 2021 guidance due to ongoing uncertainty.
Premier, Inc. (NASDAQ: PINC) announced a cash dividend of $0.19 per share for its Class A common stock. This dividend is set to be paid on December 15, 2020, to shareholders on record by the close of business on December 1, 2020. As a healthcare improvement company, Premier collaborates with over 4,100 hospitals and 200,000 providers to enhance patient care and reduce costs through innovative solutions and analytics.
Premier Inc (NASDAQ: PINC) has announced a partnership with Baxter Healthcare to provide pre-filled IV bags of dexmedetomidine hydrochloride, assisting in stabilizing supply for COVID-19 care. Demand for this sedative has surged over 360% since April 2020 due to the pandemic, leading to ongoing shortages. The ProvideGx program facilitates reliable drug supply through long-term contracts with over 1,600 hospitals. Despite the need, the financial terms of the agreement remain undisclosed. Both companies aim for improved patient care amid rising severe COVID-19 cases.
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