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.
PINC AI™, a technology platform of Premier, has received the 2023 Best in KLAS designation for Value-Based Care Consulting, recognized for its effectiveness in supporting healthcare providers in value-based care models. Previously awarded in 2022, 2016, and 2017, this accolade underscores the impact of PINC AI™ in enhancing healthcare quality while collaborating with hundreds of hospitals and health systems. The award results from extensive evaluations by KLAS Research, highlighting leading healthcare IT solutions. Premier's commitment to improving health outcomes through data analytics and consulting services remains central to its mission.
Premier, Inc. (NASDAQ: PINC) has reported financial results for Q2 FY 2023, announcing a cost-savings plan while revising its fiscal-year guidance. The company experienced a 5% decline in net revenue year-over-year, totaling $359.6 million. Notably, the Supply Chain Services segment faced a 13% drop in total revenue, primarily due to a 40% decline in product sales. Despite the challenging environment, Premier's Performance Services grew by 15%. The planned workforce reduction of nearly 4% aims to save $18 million to $20 million in FY 2023. Adjusted earnings per share decreased by 1% to $0.72. Premier remains focused on long-term growth despite current challenges.
Ritedose, a South Carolina-based 503B outsourcing facility, has secured a group purchasing agreement with Premier Inc. (PINC), effective January 1, 2023. This agreement allows Premier members access to pre-negotiated pricing and terms for Ritedose's full range of compounded medications. Ritedose provides ready-to-use, single-dose syringe products to various healthcare organizations. Their CEO Jody Chastain highlighted their capability to meet outsourcing needs without disruptions in patient care. Premier, which collaborates with over 4,400 U.S. hospitals, aims to enhance healthcare outcomes and lower costs through integrated services.
Premier, Inc. (NASDAQ: PINC) announced a cash dividend of $0.21 per share on its Class A common stock. The dividend will be paid on March 15, 2023, to stockholders of record as of the close of business on March 1, 2023. This reflects the company's commitment to returning value to its shareholders while supporting its role as a leader in healthcare improvement.
Premier, Inc. (NASDAQ: PINC) will release its fiscal 2023 second-quarter financial results on February 7 at 6:30 a.m. EST. A conference call to discuss these results will follow at 8:00 a.m. EST. Interested participants can access the call via a toll-free domestic number: (833) 953-2438, or internationally at (412) 317-5767. The event will be available for replay for one year on the company’s Investor Relations website. Premier collaborates with over 4,400 U.S. hospitals and aims to improve healthcare outcomes.
Premier Inc. (NASDAQ: PINC), a technology-driven healthcare improvement company, will participate in the 41st Annual J.P. Morgan Healthcare Conference on January 10, 2023. The presentation is scheduled for 11:15 a.m. PST (2:15 p.m. EST) and will be followed by a Q&A session. A live audio webcast and a replay will be available on their website. Premier connects over 4,400 U.S. hospitals and 250,000 providers to enhance healthcare delivery through data, analytics, and consulting services.
Quest Diagnostics (DGX) has secured a group purchasing agreement with Premier Inc. (PINC) for its laboratory stewardship solutions. This collaboration enables Premier members to access Quest's Lab Stewardship Enterprise at special pricing, facilitating improved healthcare delivery. The platform offers data analytics for healthcare organizations, tracking trends and identifying cost-saving opportunities. Quest aims to enhance care quality and operational efficiency as health systems face post-pandemic challenges. This agreement marks a significant enhancement in accessibility for Quest's innovative healthcare solutions.
Premier, a technology-driven healthcare improvement company listed on NASDAQ under the symbol PINC, will participate in a fireside chat at the Piper Sandler 34th Annual Healthcare Conference on November 30, 2022, at 8:30 a.m. ET. Interested parties can access the live audio webcast and replay on the company’s website. Premier collaborates with an alliance of over 4,400 hospitals and 250,000 healthcare providers, aiming to enhance care quality while reducing costs through data analytics, supply chain solutions, and consulting services.
Premier Inc. (NASDAQ: PINC), a technology-driven healthcare improvement company, is set to participate in a fireside chat at the Credit Suisse 31st Annual Healthcare Conference on November 8, 2022, at 2:35 p.m. PT (5:35 p.m. ET). A live audio webcast and a replay will be accessible on the company’s website. Premier Inc. collaborates with over 4,400 U.S. hospitals and 250,000 providers to enhance healthcare delivery through integrated data, analytics, and consulting services. For more updates, visit their news and investor site.
Premier, Inc. (NASDAQ: PINC) reported its fiscal Q1 2023 results, highlighting a 14% decline in net revenue, totaling $313.9 million, compared to the previous year. The Supply Chain Services segment saw a significant 21% decrease in revenue, attributed to normalization post-COVID-19. Conversely, Performance Services grew by 7% to $94.2 million, driven by adjacent markets. GAAP net income dropped by 65% to $42.9 million, leading to a 63% decrease in EPS. The company reaffirmed its fiscal 2023 guidance and completed an acquisition to bolster growth.
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