REPAY Announces Agreement with Premier Inc.

Rhea-AI Summary

Repay Holdings Corporation (NASDAQ: RPAY) has entered a group purchasing agreement with Premier Inc., enhancing advanced accounts payable solutions. This collaboration, facilitated through CPS Payment Services, aims to streamline payment processes for healthcare providers. Using the TotalPay platform, hospitals can automate supplier payments and achieve substantial cash rebates. Premier represents a network of over 4,100 hospitals, focusing on improving healthcare delivery and reducing costs through integrated services.

Positive

• Group purchasing agreement with Premier enhances customer reach.
• TotalPay platform streamlines supplier payments, increasing operational efficiency.
• CPS's proprietary network improves rebate generation significantly.

Negative

• None.

Repay Holdings Corporation (NASDAQ: RPAY) (“REPAY”), a leading provider of vertically integrated payment solutions, today announced a group purchasing agreement for advanced accounts payable solutions with Premier Inc., a leading healthcare improvement company.

REPAY’s agreement with Premier is through CPS Payment Services (“CPS”), a REPAY company and market leader in healthcare accounts payable (AP) virtual card disbursement services, and will provide Premier members with advanced automation capabilities for AP disbursements, enabling healthcare providers and hospitals to streamline internal workflows and realize savings through revenue-generating rebates.

CPS’ TotalPay platform automates the facilitation of all supplier payments for a hospital or health system while helping generate substantial monthly cash rebates based on payments to accounts payable suppliers. CPS has a proprietary network of healthcare suppliers, which typically enables healthcare clients to generate significantly increased rebates compared to most bank programs.

“We are honored to have been awarded this agreement with Premier and look forward to helping healthcare providers optimize supplier payments, create operational efficiencies and improve financial performance through powerful AP automation,” said Darin Horrocks, SVP, B2B, REPAY.

Premier is a leading healthcare improvement company, uniting an alliance of more than 4,100 U.S. hospitals and approximately 200,000 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 REPAY

REPAY provides integrated payment processing solutions to verticals that have specific transaction processing needs. REPAY’s proprietary, integrated payment technology platform reduces the complexity of electronic payments for merchants, while enhancing the overall experience for consumers and businesses.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210629005101/en/

FAQ

What is the recent agreement between Repay Holdings and Premier Inc.?

Repay Holdings has signed a group purchasing agreement with Premier Inc. to enhance accounts payable solutions for healthcare providers.

How does the TotalPay platform benefit healthcare providers?

The TotalPay platform automates supplier payments, helping healthcare providers achieve significant cash rebates and streamline workflows.

What is the significance of the partnership for Repay Holdings (RPAY)?

This partnership positions Repay Holdings to expand its market presence and enhance its service offerings in the healthcare sector.

How many hospitals are part of Premier's network?

Premier's network includes over 4,100 hospitals and approximately 200,000 providers.