Tufts Medicine Selects Premier, Inc. as Strategic Partner to Achieve Supply Chain Excellence

Rhea-AI Summary

Premier, Inc. (NASDAQ: PINC) renews 10-year GPO contract with Tufts Medicine, expanding services to include co-management of supply chain operations, automation technologies, and consulting for financial performance improvement. The partnership aims to drive efficiency, total cost management, and operational excellence across Tufts Medicine's integrated health system.

Positive

• Renewed 10-year strategic partnership with Tufts Medicine signals long-term commitment and trust in Premier's ability to deliver superior savings, performance excellence, and resiliency for the future. Expanded services, including supply chain management, AI performance improvement technologies, and P2P platform, demonstrate Premier's differentiated ability to achieve operational excellence and drive supply chain innovation.

Negative

• None.

• Extends group purchasing organization (GPO) contract for 10 years.
• Expands services to include co-management of supply chain operations, automation technologies and consulting for financial performance improvement.

CHARLOTTE, N.C.--(BUSINESS WIRE)-- Premier, Inc. (NASDAQ: PINC), a leading technology-enabled performance improvement company, today announced a renewed partnership with Tufts Medicine, a leading integrated health system bringing together the best of academic and community medicine to deliver exceptional, connected and accessible care experiences to consumers across Massachusetts and beyond.

Tufts Medicine and Premier are undertaking a 10-year strategic partnership to expand and extend their shared supply chain goals and capabilities. As part of this relationship, Tufts Medicine will leverage Premier’s Nexera supply chain consulting arm to co-manage the people, processes and technologies needed to drive efficiency and total cost management.

“Premier is an ideal strategic partner in the market for supply chain services, and we believe they are uniquely positioned to manage our operations and employees with the winning combination of market leading, price-competitive contracts, automation technologies and data-driven insights,” said Susan Green, Chief Financial Officer at Tufts Medicine. “Together with Premier, we will drive operational excellence across our integrated health system, enabling us to stay relentlessly focused on achieving our vision to create the most equitable and frictionless healthcare experience in the world.”

Beyond Nexera’s supply chain management services, Tufts Medicine will have expanded access to PINC AI™ performance improvement technologies to aggregate and standardize systemwide spend and utilization data, as well as Remitra^®, Premier’s procure-to-pay (P2P) platform that seamlessly automates manual payment and invoicing processes to reduce waste and save time for both healthcare providers and suppliers. In addition, Tufts Medicine will leverage PINC AI™ consulting services to pinpoint cost savings opportunities and accelerate supply chain innovation across the organization.

“Tufts Medicine joins hundreds of other large, integrated health systems that rely on Premier for our differentiated ability to achieve superior savings, performance excellence and resiliency for the future,” said Andy Brailo, Chief Commercial Officer of Premier. “Premier prides itself on our ability to co-innovate with members and this partnership speaks volumes of the confidence we’ve built and the real-world results we can deliver.”

The financial terms of the partnership were not disclosed.

Forward-Looking Statements

Matters discussed in this release that are not statements of historical or current facts, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Premier to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. Accordingly, readers should not place undue reliance on any forward-looking statements. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements in the conditional or future tenses or that include terms such as “believes,” “belief,” “expects,” “estimates,” “intends,” “anticipates” or “plans” to be uncertain and forward-looking. Forward-looking statements may include comments as to Premier’s beliefs and expectations as to future events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside Premier’s control. More information on potential factors that could affect Premier’s financial results is included from time to time in the “Forward-Looking Statements,” “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Premier’s periodic and current filings with the SEC and available on Premier’s website at investors.premierinc.com. Forward-looking statements speak only as of the date they are made. Premier undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise that occur after that date.

About Premier, Inc.

Premier, Inc. (NASDAQ: PINC) is a leading healthcare improvement company, uniting an alliance of more than 4,350 U.S. hospitals and health systems and approximately 300,000 other providers to transform healthcare. With integrated data and analytics, collaboratives, supply chain solutions, consulting and other services, Premier enables better care and outcomes at a lower cost. Premier plays a critical role in the rapidly evolving healthcare industry, collaborating with members to co-develop long-term innovations that reinvent and improve the way care is delivered to patients nationwide. Headquartered in Charlotte, N.C., Premier is passionate about transforming American healthcare. Please visit Premier’s news and investor sites on www.premierinc.com; as well as Twitter, Facebook, LinkedIn, YouTube, Instagram and Premier’s blog for more information about the company.

About Tufts Medicine

Comprised of Tufts Medical Center, Lowell General Hospital, MelroseWakefield Hospital, Lawrence Memorial Hospital of Medford, Care at Home, and a large integrated physician network, Tufts Medicine has more than 15,000 dedicated care team members providing more than 1.5 million patient experiences per year. The health system is the principal teaching affiliate for Tufts University School of Medicine. Tufts Medicine came together in 2014 to leverage the experience of its member organizations and integrate their missions to together transform the ways that consumers engage with and experience their care.

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Public_Relations@PremierInc.com

Source: Premier, Inc.

FAQ

What is the renewed partnership between Premier, Inc. and Tufts Medicine about?

The renewed partnership extends the group purchasing organization (GPO) contract for 10 years and expands services to include co-management of supply chain operations, automation technologies, and consulting for financial performance improvement.

What services will Tufts Medicine leverage from Premier?

Tufts Medicine will leverage Premier's Nexera supply chain consulting arm to co-manage the people, processes, and technologies needed to drive efficiency and total cost management. Additionally, Tufts Medicine will have expanded access to PINC AI™ performance improvement technologies and Premier's Remitra® procure-to-pay (P2P) platform.

What are the benefits of the partnership for Tufts Medicine?

The partnership aims to drive operational excellence across Tufts Medicine's integrated health system, enabling them to stay focused on achieving their vision to create the most equitable and frictionless healthcare experience in the world. They will also benefit from cost savings opportunities and accelerated supply chain innovation across the organization.

What is Premier's role in the partnership?

Premier prides itself on its ability to co-innovate with members, and the partnership with Tufts Medicine demonstrates the confidence built and the real-world results Premier can deliver. Premier will provide differentiated ability to achieve superior savings, performance excellence, and resiliency for the future.

What specific technologies and platforms will be available to Tufts Medicine?

Tufts Medicine will have expanded access to PINC AI™ performance improvement technologies to aggregate and standardize systemwide spend and utilization data, as well as Premier's Remitra® procure-to-pay (P2P) platform that seamlessly automates manual payment and invoicing processes to reduce waste and save time.