Premier Stock Price, News & Analysis

Premier Inc. (NASDAQ: PINC) has announced a partnership with Apotex Corp. to supply three vital antibiotics: cefazolin, cefepime, and ceftriaxone. These medications are essential for treating various bacterial infections and have faced supply challenges. The collaboration aims to alleviate shortages, improve market competition, and promote stable pricing. Premier’s ProvideGx program ensures long-term commitments with manufacturers, facilitating increased production of critical drugs. The financial specifics of the agreement remain undisclosed.

Premier Inc. (NASDAQ: PINC) announced the retirement of CEO Susan DeVore, effective May 1, 2021, after nearly 18 years of service. Michael J. Alkire, currently president, will succeed her. DeVore will assist in the transition until June 30, 2021, and will serve as an advisor for two years post-retirement. Board Chair Terry Shaw highlighted Alkire's leadership and deep understanding of the industry as crucial for Premier's strategic goals. Alkire aims to guide the company through a transformative period in healthcare, emphasizing sustainable growth amidst ongoing challenges.

Premier, Inc. (NASDAQ: PINC) reported a 32% increase in GAAP net revenue to $422.8 million for the fiscal Q2 2021 compared to the previous year. The Supply Chain Services segment saw a 41% revenue rise, while Performance Services increased by 8%. However, GAAP net income dropped 51% to $44.9 million. Adjusted EBITDA fell 16% to $124.8 million. The Board declared a quarterly cash dividend of $0.19 per share. Despite pandemic uncertainties, management provided financial guidance for FY 2021, indicating improved visibility for the remainder of the year.

Premier, Inc. (NASDAQ: PINC) announced a cash dividend of $0.19 per share of Class A common stock. This dividend is payable on March 15, 2021, to stockholders on record as of the close of business on March 1, 2021. The company is a leader in healthcare improvement, collaborating with over 4,100 hospitals and approximately 200,000 providers. Premier focuses on enhancing care quality while reducing costs through integrated data, analytics, and supply chain solutions.

Premier (NASDAQ: PINC) has collaborated with Pfizer to supply five essential medications, including diazepam and fentanyl citrate, crucial for patient care amid rising COVID-19 demands. This partnership ensures a sustainable supply to healthcare providers, addressing both immediate and long-term medication needs. The demand for these drugs has surged, especially fentanyl, which has seen a 7.5X increase during peak COVID-19 periods. Premier's ProvideGx program aims to secure adequate supplies, supported by Pfizer’s investments in manufacturing capacity.

Premier, Inc. (NASDAQ: PINC) will release its fiscal 2021 second quarter financial results on February 2, 2021, at 6:30 a.m. ET. A conference call to discuss these results will be held at 8:00 a.m. ET, available for live webcast on the company's website. Participants can dial in using specific toll-free numbers. Premier, Inc. is a leading healthcare improvement company, supporting over 4,100 hospitals and health systems. The company focuses on transforming healthcare through integrated data analytics and supply chain solutions.

Premier Inc. (NASDAQ: PINC) announced its participation in the 39th Annual J.P. Morgan Virtual Healthcare Conference scheduled for January 12, 2021, at 2:00 p.m. ET. The management team will engage in a presentation and fireside chat during this event. Interested parties can access live audio webcasts and replays on the company’s website.

Premier is a healthcare improvement company that collaborates with over 4,100 hospitals and 200,000 providers to enhance care quality and reduce costs through innovative solutions.

Health Resource Services (HRS) has partnered with Premier Inc. (NASDAQ: PINC) to enhance national contracting support. This partnership allows HRS access to a wider range of product contracts and savings opportunities, including nearly 600 negotiated contracts across various trade classes. HRS President Ken Freeman emphasized the importance of this alliance for improving member services and achieving performance goals. Premier's extensive field support team will aid in contract launches, aiming for double-digit savings for HRS members. Financial terms of the agreement were not disclosed.