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. issued public-company news centered on its technology-enabled healthcare performance improvement business, including group purchasing, supply chain management, sourcing, contract management, operations and business analytics for healthcare providers.
Recurring updates for PINC covered operating and financial results, capital-structure matters, governance changes, material agreements and shareholder voting matters. Company news also included group purchasing agreements for healthcare customers, leadership changes within Supply Chain Services, sustainability reporting and the completed merger that changed Premier from a public issuer into a wholly owned subsidiary.
Premier, Inc. (NASDAQ: PINC) announced that its subsidiary, Contigo Health, has finalized the acquisition of assets from TRPN Direct Pay and Devon Health. These assets include contracts with over 900,000 providers across 4.1 million locations in the U.S. The new product, Contigo Health® ConfigureNet™, aims to enhance health plan offerings while reducing costs through pre-negotiated discounts. The transaction is projected to contribute $40 million to $60 million in annual net revenue and add $0.01 to $0.02 to earnings per share in fiscal 2023.
Premier, Inc. (NASDAQ: PINC) will announce its fiscal 2023 first-quarter financial results on November 1, 2022, at 6:30 a.m. ET. A conference call to discuss the results will follow at 8:00 a.m. ET. Interested parties can access the live webcast on the company’s Investor Relations site. There will also be an option for telephone access: Domestic dial-in at (833) 953-2438 and international at (412) 317-5767.
Premier's subsidiary, Contigo Health, has announced its acquisition of assets from TRPN Direct Pay and Devon Health for $177.5 million. This deal includes contracts with over 900,000 providers across 4.1 million U.S. locations. Contigo plans to leverage these assets to enhance its ConfigureNet™ out-of-network wrap product, aiming to improve healthcare access and reduce costs for self-funded employer health plans. The transaction is expected to close in Q2 of fiscal 2023 and could generate an additional $40 million to $60 million in annual net revenue.
Premier, Inc. (NASDAQ: PINC) reported fiscal Q4 2022 results, with net revenue falling 29% to $340.7 million, driven by a 40% decline in Supply Chain Services revenue. However, Performance Services segment revenue rose 18% to $108 million. The company's net income dropped 39% to $30.7 million, while adjusted EPS increased 2% to $0.61. Premier's adjacent market businesses grew 30%, and it generated $444.2 million in cash flow from operations. For fiscal 2023, Premier expects continued growth, particularly in its non-acute group purchasing business.
Premier, Inc. (NASDAQ: PINC) announced a 5% increase in its quarterly cash dividend to $0.21 per share of Class A common stock. This dividend is payable on September 15, 2022, to stockholders of record as of September 1, 2022. Such action reflects the company's commitment to returning value to its shareholders while continuing its focus on healthcare improvements across its vast alliance of over 4,400 U.S. hospitals and approximately 225,000 providers.
Premier, Inc. (NASDAQ: PINC) is set to announce its fiscal 2022 fourth quarter and full year financial results on August 16, 2022, at 6:30 a.m. ET. A conference call will follow at 8:00 a.m. ET to discuss these results. Investors can access the live webcast on the company's website and a replay will be available for one year. Premier operates as a healthcare improvement company, connecting over 4,400 U.S. hospitals and health systems to enhance care delivery and reduce costs.
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Premier Inc. (NASDAQ: PINC), a technology-driven healthcare improvement company, will participate in a fireside chat at the BofA Securities 2022 Healthcare Conference on May 10, 2022, at 9:20 a.m. PT (12:20 p.m. ET). A live audio webcast and replay will be accessible on the company's website. Premier Inc. unites over 4,400 U.S. hospitals and around 225,000 other providers, leveraging data and analytics to enhance care delivery and reduce costs. For more details, visit www.premierinc.com.
Premier, Inc. (NASDAQ: PINC) reported Q3 fiscal 2022 results, with net revenue down 26% to $347.8 million, significantly impacted by a 32% drop in Supply Chain Services revenue. Net income fell 24% to $39.1 million and diluted EPS decreased 18% to $0.32. Adjusted EBITDA decreased 7% to $112.2 million. Despite these declines, the company raised its adjusted EPS guidance to $2.48 - $2.58. Premier repurchased 6.4 million shares for $250 million and paid around $72.9 million in dividends. The board declared a $0.20 quarterly dividend payable on June 15, 2022.