Priority Awarded Purchasing Cards and Electronic Payables Agreement with Premier, Inc.

Rhea-AI Summary

Priority Technology Holdings, Inc. (NASDAQ: PRTH) has secured a group purchasing agreement with Premier, Inc. effective January 15, 2022. This agreement allows Premier’s members to access pre-negotiated pricing and terms for purchasing cards and electronic payables, enhancing payment solutions for healthcare providers.

Priority’s CPX solution streamlines accounts payable processes, improving transaction efficiency. This strategic partnership aims to support over 4,400 U.S. hospitals and 225,000 other healthcare providers in achieving better financial outcomes.

Positive

• Secured a group purchasing agreement with Premier, enhancing market reach.
• Offers special pricing and terms for Premier's healthcare members.
• CPX solution minimizes manual payment processes, supporting efficiency.
• Targets a large customer base of over 4,400 hospitals and 225,000 providers.

Negative

• None.

CPX brings industry-leading accounts payable solutions to healthcare providers

ALPHARETTA, Ga.--(BUSINESS WIRE)-- Priority Technology Holdings, Inc. (NASDAQ: PRTH) (“Priority”), a leading payments technology company helping customers collect, store, and send money, has been awarded a group purchasing agreement for purchasing cards and electronic payables with Premier, Inc. Effective January 15, 2022, the new agreement allows Premier members, at their discretion, to take advantage of special pricing and terms pre-negotiated by Premier for purchasing cards and electronic payables.

“The agreement with Premier demonstrates their commitment to bringing the best payments solutions to their members, allowing them to make smart, data-driven decisions,” said Stephen Tackett, Executive Vice President and head of the B2B division for Priority. “We are thrilled to have the opportunity to support their members with best-in-class accounts payable solutions that maximize automation and efficiency while achieving revenue growth.”

Priority’s CPX solution minimizes inefficient, manual processes while accelerating payments and managing transaction costs for suppliers. The diverse product suite of payment solutions includes virtual card, ACH and check, and offers seamless integration into any accounting software or ERP. CPX enables users to pay all of their suppliers with a single payment instruction file regardless of payment method they accept.

Premier is a leading healthcare improvement company, uniting an alliance of more than 4,400 U.S. hospitals and 225,000 other providers and organizations to transform healthcare. With integrated data and analytics, collaboratives, supply chain solutions, and consulting and other services, Premier enables better care and outcomes at a lower cost.

About Priority Technology Holdings, Inc.

Priority is a payments powerhouse driving the convergence of payments and banking. The company has built a single platform to collect, store, and send money that operates at scale. We help our customers take and make payments while managing business and consumer operating accounts to monetize payment networks. Our tailored, agile technology powers high-value payments products bolstered by our industry-leading personalized support. Additional information can be found at www.PRTH.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220307005076/en/

Whitney Sellers

(229) 588-8354

Source: Priority Technology Holdings, Inc.

FAQ

What is the recent agreement Priority Technology Holdings signed?

Priority Technology Holdings signed a group purchasing agreement with Premier, Inc. effective January 15, 2022.

How does the Premier agreement benefit Priority Technology Holdings?

The agreement allows Priority to offer special pricing and terms for purchasing cards and electronic payables to Premier's 4,400 hospitals and 225,000 providers.

What is the CPX solution from Priority Technology?

The CPX solution streamlines accounts payable processes, reducing manual efforts while accelerating payments and managing transaction costs.

What is the significance of the agreement for Premier members?

Premier members can utilize pre-negotiated pricing and terms, improving their payment solutions while ensuring better cost management.

When did the agreement between Priority Technology and Premier take effect?

The agreement took effect on January 15, 2022.