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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.
Honeywell and Premier Inc. are partnering to enhance the domestic production of nitrile exam gloves, aiming to produce at least 750 million gloves within the first year. This collaboration addresses ongoing shortages exacerbated by the COVID-19 pandemic, with demand exceeding supply by 40%. Over 80 health systems are committed to purchasing these gloves, ensuring better access for healthcare providers. The financial terms remain undisclosed and are not expected to significantly impact either company's financials.
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Premier Inc. (NASDAQ: PINC), a leader in healthcare improvement, announced their participation in a fireside chat at the BofA Securities Virtual 2021 Healthcare Conference scheduled for May 11, 2021, at 12:30 p.m. ET. This event will feature members of Premier's management team discussing current industry trends and innovations. A live audio webcast and a replay will be available on Premier's website for stakeholders and interested audiences.
Premier, Inc. (NASDAQ: PINC) reported a 40% increase in GAAP net revenue for Q3 FY2021, reaching $469.9 million. The Supply Chain Services segment saw a robust 56% growth, while Performance Services grew by 3%. However, GAAP net income decreased by 30% to $51.4 million, with diluted EPS falling to $0.39 from $0.54. Adjusted EBITDA dropped 22% to $121.2 million due to amended agreements and acquisitions. Premier's CEO, Michael J. Alkire, stated raised fiscal guidance based on positive third-quarter results. A quarterly cash dividend of $0.19 per share was declared, payable on June 15, 2021.
Premier, a healthcare improvement company, announced a cash dividend of $0.19 per share of Class A common stock. The dividend will be payable on June 15, 2021, to stockholders recorded as of the close of business on June 1, 2021. This decision reflects the company’s commitment to returning value to its shareholders while actively engaging in transformative healthcare initiatives across the U.S., serving over 4,100 hospitals and health systems.
Community Healthcare System has partnered with Premier (NASDAQ: PINC), enhancing access to Premier's supply chain services and performance improvement technology. This collaboration aims to optimize operational efficiency and cost savings while improving patient outcomes through advanced analytics. The financial impact of this partnership remains undisclosed. Community Healthcare System's goal is to leverage Premier's expertise to achieve growth and innovation, contributing to better healthcare delivery in Northwest Indiana.
Premier, Inc. (NASDAQ: PINC) will release its fiscal 2021 third-quarter financial results on May 4, 2021, at 6:30 a.m. ET, followed by a conference call at 8:00 a.m. ET to discuss these results. Interested parties can access the call via webcast on the company's website. Premier, Inc. is a prominent healthcare improvement company, supporting over 4,100 U.S. hospitals and health systems with integrated data, analytics, and supply chain solutions to enhance healthcare delivery and outcomes.
Premier Inc. (NASDAQ: PINC), a top healthcare improvement company, will present at the KeyBanc Capital Markets Virtual Life Sciences & MedTech Investor Forum on March 23, 2021, at 11:30 a.m. ET. The live audio webcast and replay will be accessible on the company's website. Premier represents over 4,100 U.S. hospitals and around 200,000 providers, focusing on healthcare transformation through data analytics and collaborative solutions. The organization is dedicated to enhancing healthcare delivery and outcomes nationwide.
Premier Inc. (NASDAQ: PINC) has acquired Invoice Delivery Services, LP for $80 million, enhancing its procure-to-pay solutions in healthcare. This acquisition, funded through borrowings, aims to streamline accounts payable processes by converting manual invoices to an electronic format. Currently processing over 365,000 transactions monthly, IDS will operate under the brand Remitra™. Premier anticipates this move will reduce healthcare costs by eliminating manual invoicing inefficiencies, potentially saving up to $22 billion annually. The integration is expected to support Premier's growth targets for fiscal 2022.