Premier, Inc. - PINC STOCK NEWS

Premier Inc. (NASDAQ: PINC) has been recognized as the 2022 Best in KLAS for Value-Based Care Consulting, marking its third consecutive year at the top. This accolade is based on feedback from healthcare providers and was announced in the 2022 Best In KLAS: Software & Services Report. Premier, which previously won this designation in 2016 and 2017, has facilitated significant improvements in patient care through its innovative consulting services. The award highlights Premier's commitment to enhancing healthcare outcomes through data-driven insights and collaboration.

Premier, Inc. (NASDAQ: PINC) reported its fiscal Q2 2022 results, showing a 10% decline in net revenue to $379.2 million compared to $422.8 million last year. The Supply Chain Services segment fell 18% to $271.5 million, while Performance Services saw a 15% increase to $107.7 million. Despite revenue drops, net income soared 72% to $77.2 million, with diluted EPS also up 72% to $0.62. Cash flow from operations reached $197.5 million, and the company repurchased 4.5 million shares for $176 million.

Premier, Inc. (NASDAQ: PINC) has announced a cash dividend of $0.20 per share of Class A common stock. This dividend is payable on March 15, 2022, to stockholders of record as of March 1, 2022. The company aims to enhance shareholder value through regular dividends. Premier is a healthcare improvement organization, connecting over 4,400 hospitals and around 225,000 healthcare providers, focusing on innovation and better healthcare outcomes.

Premier, Inc. (NASDAQ: PINC) has launched INsights, a self-service healthcare analytics platform that simplifies data preparation and improves clinical insights. This vendor-agnostic solution leverages PINC AI’s standardized data from over 45% of U.S. hospital discharges. Hosted on Microsoft Azure Synapse Analytics, INsights offers customizable analytics and a collaborative community for users. It aims to enhance operational efficiency without impacting the company's fiscal 2022 financial guidance. The platform is designed to be accessible for various healthcare organizations, from large systems to smaller practices.

Premier Inc. (NASDAQ: PINC) announced a partnership with OhioHealthy Plans, LLC to add approximately 43,000 health plan members to Contigo Health's BPO platform. This collaboration is aimed at providing OhioHealthy members with access to affordable healthcare through comprehensive administrative and clinical support services. Contigo Health will manage back-office claims operations and utilize its care management platform to enhance collaboration. The financial terms were undisclosed and are not expected to materially affect Premier's fiscal results for 2022.

GRAIL announced a collaboration with Premier, Inc.'s PINC AI to enhance patient access to Galleri, a multi-cancer early detection blood test. This partnership aims to integrate AI-based alerts for clinicians to identify patients at elevated cancer risk. Community Health Network will pilot these alerts. The Galleri test can detect over 50 cancer types through a single blood draw, improving early detection and treatment outcomes. GRAIL emphasizes the importance of early cancer detection to increase survival rates, as many cancers are diagnosed late when treatment options are limited.

Premier, Inc. (NASDAQ: PINC) announced participation in the 40th Annual J.P. Morgan Healthcare Conference on January 11, 2022, with a formal presentation at 4:30 p.m. EDT. The company will release its fiscal 2022 second-quarter financial results on February 1, 2022, at approximately 6:30 a.m. EDT, followed by a conference call at 8:00 a.m. EDT. Investors can access the live webcast of both events via the company’s website. Premier, Inc. focuses on healthcare improvement, connecting over 4,400 U.S. hospitals and health systems to enhance care and reduce costs.

Premier, Inc. (NASDAQ: PINC) reported its fiscal 2022 first-quarter results ending September 30, 2021. Total net revenue rose by 5% to $365.1 million compared to $346.9 million last year. The Supply Chain Services segment grew by 9%, while Performance Services revenue fell by 5%. GAAP net income decreased 23% to $121.3 million, and diluted earnings per share dropped 18% to $0.97. Adjusted EBITDA increased by 10% to $121.7 million. The company generated $55.2 million in cash flow from operations and repurchased 1.1 million shares for $42.6 million. A quarterly dividend of $0.20 per share was declared.

Premier, a technology-driven healthcare improvement company, will host its 2021 Virtual Investor Day on November 17, 2021, from 9 a.m. to 11 a.m. ET. The event will include presentations from top executives, including CEO Michael J. Alkire and other key leaders. Attendees can access the live webcast via the company’s website, starting 10 minutes before the event. A replay will be available after the broadcast. Premier connects over 4,400 hospitals in the U.S., utilizing integrated data and analytics to improve healthcare delivery and outcomes at lower costs.