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 entered into a partnership with Prestige Ameritech, , exchanging its holdings in S2S Global for a 20% minority interest in Prestige. This increases Premier's total ownership in Prestige to approximately 24.2%. Prestige, a major domestic manufacturer of PPE, is certified as a Native American Owned Business. The combination with S2S has the potential to create one of the largest diverse medical sourcing companies in the U.S.
This move aligns with Premier's strategy to focus on core technology-enablement and smarter supply chain solutions while supporting supply chain resiliency for U.S. healthcare providers. The partnership aims to expand into product categories needing additional competition and U.S. supply to prevent shortages and enhance supply chain resilience.
Premier, Inc. (NASDAQ: PINC) has announced a significant leadership change. Glenn Coleman, CPA, will be appointed as the new Chief Administrative and Financial Officer, effective November 11, 2024. Coleman, currently the EVP and CFO at Dentsply Sirona, brings over 30 years of financial and industry expertise. He will succeed Craig McKasson, who is set to retire on December 31, 2024, but will continue as a strategic advisor through 2026.
Coleman's extensive experience includes leadership roles at Integra LifeSciences, Curtiss-Wright , and Alcatel-Lucent. Premier's CEO, Michael J. Alkire, expressed confidence in Coleman's ability to lead the organization forward. McKasson, who joined Premier in 1997, was praised for his contributions in transforming the company from a hospital buying group into a key player in the U.S. healthcare system.
Premier, Inc. (NASDAQ: PINC) reported its fiscal-year 2024 Q4 and full-year results, showing growth in consolidated net revenue. Key highlights include:
- Q4 net revenue increased 3% to $350.3 million
- Full-year net revenue grew 1% to $1.35 billion
- Q4 net income rose 221% to $60.6 million
- Full-year net income decreased 39% to $106.7 million
- Q4 adjusted EBITDA declined 9% to $118.7 million
- Full-year adjusted EBITDA fell 8% to $445.8 million
The Board approved an additional $200 million share repurchase under the existing $1 billion authorization. Supply Chain Services saw 1% Q4 revenue growth, while Performance Services revenue increased 7%. The company remains focused on advancing its strategy and returning capital to stockholders.
Premier, Inc. (NASDAQ: PINC) has been chosen by AllSpire Health GPO, as its primary national GPO, supporting over $3.5 billion in annual GPO purchasing volume. The partnership will cover 54 acute care hospitals with more than 12,200 licensed acute beds. Premier will provide supply chain management services, performance improvement technology, and a procure-to-pay platform to AllSpire members.
The collaboration aims to drive operational efficiency, supply chain innovation, and value for AllSpire members. Premier will leverage its scale and data to evaluate products and services, supporting the development of a best-in-class contract portfolio. The anticipated GPO go-live date is January 2025, with the financial impact undisclosed.
Premier, Inc. (NASDAQ: PINC), a leading technology-driven healthcare improvement company, has announced a quarterly cash dividend of $0.21 per share of Class A common stock. The dividend will be payable on September 15, 2024, to stockholders of record as of the close of business on September 1, 2024. This announcement demonstrates Premier's commitment to returning value to shareholders and maintaining a consistent dividend policy.
Premier, Inc. (NASDAQ: PINC) has announced the release date for its fiscal 2024 fourth-quarter and full-year financial results. The company will disclose these results on Tuesday, August 20, 2024, at approximately 6:30 a.m. ET. Following this, Premier will host a conference call at 8:00 a.m. ET to discuss the financial outcomes.
Investors and interested parties can access the live webcast and replay in the Investors section of Premier's website under Events & Presentations. For those without internet access, the conference call can be joined via telephone using specific dial-in numbers for domestic and international participants.
PINC AI™, a technology brand of Premier, has released its 15 Top Health Systems™ Annual Report, published by Fortune. The report, now in its 16th year, highlights health systems that excel in clinical outcomes, operational efficiency, and patient experience. The analysis suggests that if all health systems reached the performance levels of the top 15, over 220,000 lives could be saved and 196,000 patients could avoid complications annually. Top performers showed 21% fewer inpatient deaths, 13.8% fewer complications, and 21% fewer healthcare-associated infections compared to peers. The report uses data from MEDPAR and CMS Care Compare and aims to inspire better health system performance nationwide.
Premier, Inc. (PINC) will be participating in the BofA Securities Healthcare Conference on May 14, 2024. The management team will engage in a fireside chat at 9:20 a.m. PDT. The event will be live-streamed with a replay available on the company's website.
Premier, Inc. (PINC) has partnered with AstraZeneca in Uncover CKD - Care Collective to improve diagnosis and care for chronic kidney disease (CKD). The initiative aims to address the high number of undiagnosed CKD patients in the U.S. through real-world data and AI-powered technologies. With over 37 million adults in the U.S. having CKD, the partnership seeks to lower healthcare costs and improve patient outcomes by leveraging Premier's PINC AI™ technology and services platform.
Premier, Inc. (NASDAQ: PINC) reported fiscal-year 2024 third-quarter results with total net revenue of $342.6 million, reflecting a 6% growth over the prior-year period. The company experienced a GAAP net loss of $49.2 million, and adjusted earnings per share remained flat at $0.55. Premier executed a $400 million accelerated share repurchase transaction during the quarter and reaffirmed its fiscal 2024 financial guidance.
FAQ
What is the current stock price of Premier (PINC)?
What is the market cap of Premier (PINC)?
What does Premier, Inc. do?
Where is Premier, Inc. headquartered?
What are the main business segments of Premier, Inc.?
What is the PINC AI™ platform?
What recent partnership has Premier, Inc. announced?
How does Premier, Inc. contribute to cost reduction in healthcare?
What percentage of Premier, Inc.'s revenue comes from Supply Chain Services?
How does Premier, Inc. support early patient identification?
What types of data does the PINC AI™ platform include?
How does Premier, Inc. impact healthcare delivery?
