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 technology-driven healthcare improvement company, announced management participation in three upcoming investor conferences. The events include:
- Raymond James 43rd Annual Institutional Investors Conference on March 7, 2022, at 1:40 p.m. ET.
- Barclays Global Healthcare Conference on March 15, 2022, at 10:15 a.m. ET.
- KeyBanc Capital Markets Virtual Life Sciences & MedTech Investor Forum on March 22, 2022, at 11:15 a.m. ET.
Live webcasts and replays will be available on Premier's investor website.
Qventus has secured a growth investment from Thomas H. Lee Partners and a strategic partnership with Premier, Inc., aiming to enhance its AI-powered care operations software. This partnership will assist Qventus in expanding its technology to more hospitals in the U.S., alleviating operational challenges in healthcare. Their software has demonstrated efficiency by reducing operational waste, resulting in 30-50% fewer excess days and a significant return on investment. This collaboration is expected to further improve patient care and operational efficiency in healthcare settings.
Premier Inc. (NASDAQ: PINC), a technology-driven healthcare improvement company, will participate in a virtual fireside chat at the 2022 SVB Leerink Global Healthcare Conference on February 16, 2022, at 3:00 p.m. ET. The event will include management discussions and a link to the live audio webcast will be available on the company's website. Premier Inc. collaborates with over 4,400 U.S. hospitals and health systems to enhance healthcare delivery and outcomes through data integration and supply chain solutions.
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
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.
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