Premier Stock Price, News & Analysis

Premier announced a joint venture with 34 health systems and DeRoyal Industries to produce isolation gowns domestically. The initiative aims to reduce reliance on overseas suppliers, especially highlighted by COVID-19 shortages. The new facility near Knoxville, TN will use U.S.-sourced materials and is designed for automated, scalable production. Co-investors have committed to long-term purchases, supporting sustainable supply chain resilience. However, revenues from this venture are not expected to impact Premier's fiscal 2021 results materially.

Premier, Inc. (NASDAQ: PINC), a healthcare improvement company, will participate in a fireside chat at the 29th Annual Credit Suisse Virtual Healthcare Conference on November 10, 2020, at 11:00 a.m. ET. The event will feature members of its management team discussing the company's role in transforming healthcare.

Live audio webcasts and replays of the presentation will be accessible on Premier's website. The company unites over 4,100 hospitals and 200,000 providers to enhance healthcare delivery across the U.S.

Premier, Inc. (NASDAQ: PINC) reported a 15% increase in GAAP net revenue for fiscal Q1 2021, totaling $346.9 million, up from $302.4 million the previous year. GAAP net income surged to $180.7 million compared to $70.9 million in Q1 2020. The Supply Chain Services segment saw a 14% revenue increase to $253.7 million, driven by high demand for critical supplies amid the COVID-19 pandemic. However, adjusted EBITDA fell 21% to $110.7 million due to amended GPO agreements and pandemic impacts. Premier is not providing fiscal 2021 guidance due to ongoing uncertainty.

Premier, Inc. (NASDAQ: PINC) announced a cash dividend of $0.19 per share for its Class A common stock. This dividend is set to be paid on December 15, 2020, to shareholders on record by the close of business on December 1, 2020. As a healthcare improvement company, Premier collaborates with over 4,100 hospitals and 200,000 providers to enhance patient care and reduce costs through innovative solutions and analytics.

Premier Inc (NASDAQ: PINC) has announced a partnership with Baxter Healthcare to provide pre-filled IV bags of dexmedetomidine hydrochloride, assisting in stabilizing supply for COVID-19 care. Demand for this sedative has surged over 360% since April 2020 due to the pandemic, leading to ongoing shortages. The ProvideGx program facilitates reliable drug supply through long-term contracts with over 1,600 hospitals. Despite the need, the financial terms of the agreement remain undisclosed. Both companies aim for improved patient care amid rising severe COVID-19 cases.

Premier Inc. (NASDAQ: PINC) announced a two-year, $8 million partnership with the U.S. Department of Health and Human Services (HHS) Office of Women’s Health to enhance maternal and infant care across the nation. The initiative aims to utilize Premier’s data from 45% of U.S. hospital discharges to analyze factors affecting maternal health. At least 200 hospitals will join the data-driven Perinatal Collaborative, implementing evidence-based practices to reduce maternal morbidity and mortality rates significantly. This partnership reflects Premier's commitment to improving healthcare quality and safety.

Premier will announce its fiscal 2021 first quarter financial results on November 2, 2020, at 4:15 p.m. ET. A conference call will follow at 5:00 p.m. ET to discuss the results, available via webcast on the company's website. Premier, Inc. serves over 4,100 U.S. hospitals and health systems, providing analytics, supply chain solutions, and consulting services to enhance healthcare delivery. The company aims to lower costs while improving patient outcomes.

Premier's Population Health Management Collaborative (PHMC) achieved impressive results in the Medicare Shared Savings Program (MSSP), with 75% of its accountable care organizations (ACOs) generating savings for the government. Notably, 44% qualified for shared savings payments, surpassing national averages. PHMC ACOs recorded net savings of $716 million over five years, including $323.6 million in 2019. These outcomes reflect a strong commitment to value-based care, essential for redesigning healthcare delivery amid the COVID-19 pandemic.