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, a leading healthcare improvement company, has declared a cash dividend of $0.21 per share of Class A common stock. This dividend is payable on December 15, 2022, to stockholders of record as of December 1, 2022. The company continues to play a pivotal role in enhancing healthcare delivery through integrated data and analytics, serving over 4,400 U.S. hospitals and 250,000 providers. This commitment to transformation aims to improve care quality while reducing costs.
Premier, Inc. (NASDAQ: PINC) announced that its subsidiary, Contigo Health, has finalized the acquisition of assets from TRPN Direct Pay and Devon Health. These assets include contracts with over 900,000 providers across 4.1 million locations in the U.S. The new product, Contigo Health® ConfigureNet™, aims to enhance health plan offerings while reducing costs through pre-negotiated discounts. The transaction is projected to contribute $40 million to $60 million in annual net revenue and add $0.01 to $0.02 to earnings per share in fiscal 2023.
Premier, Inc. (NASDAQ: PINC) will announce its fiscal 2023 first-quarter financial results on November 1, 2022, at 6:30 a.m. ET. A conference call to discuss the results will follow at 8:00 a.m. ET. Interested parties can access the live webcast on the company’s Investor Relations site. There will also be an option for telephone access: Domestic dial-in at (833) 953-2438 and international at (412) 317-5767.
Premier's subsidiary, Contigo Health, has announced its acquisition of assets from TRPN Direct Pay and Devon Health for $177.5 million. This deal includes contracts with over 900,000 providers across 4.1 million U.S. locations. Contigo plans to leverage these assets to enhance its ConfigureNet™ out-of-network wrap product, aiming to improve healthcare access and reduce costs for self-funded employer health plans. The transaction is expected to close in Q2 of fiscal 2023 and could generate an additional $40 million to $60 million in annual net revenue.
Premier, Inc. (NASDAQ: PINC) reported fiscal Q4 2022 results, with net revenue falling 29% to $340.7 million, driven by a 40% decline in Supply Chain Services revenue. However, Performance Services segment revenue rose 18% to $108 million. The company's net income dropped 39% to $30.7 million, while adjusted EPS increased 2% to $0.61. Premier's adjacent market businesses grew 30%, and it generated $444.2 million in cash flow from operations. For fiscal 2023, Premier expects continued growth, particularly in its non-acute group purchasing business.
Premier, Inc. (NASDAQ: PINC) announced a 5% increase in its quarterly cash dividend to $0.21 per share of Class A common stock. This dividend is payable on September 15, 2022, to stockholders of record as of September 1, 2022. Such action reflects the company's commitment to returning value to its shareholders while continuing its focus on healthcare improvements across its vast alliance of over 4,400 U.S. hospitals and approximately 225,000 providers.
Premier, Inc. (NASDAQ: PINC) is set to announce its fiscal 2022 fourth quarter and full year financial results on August 16, 2022, at 6:30 a.m. ET. A conference call will follow at 8:00 a.m. ET to discuss these results. Investors can access the live webcast on the company's website and a replay will be available for one year. Premier operates as a healthcare improvement company, connecting over 4,400 U.S. hospitals and health systems to enhance care delivery and reduce costs.
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