If You Invested in PGIM Securitized Income ETF (PINC)

Premier, Inc. (historically traded on the Nasdaq Global Select Market under the symbol PINC) is described in its public disclosures as a technology-driven healthcare improvement company. According to multiple company communications, Premier plays a role in the healthcare industry by uniting providers, suppliers, payers and, in some descriptions, policymakers to make healthcare "better with national scale, smarter with actionable intelligence and faster with novel technologies." The company is headquartered in Charlotte, North Carolina and has operated with a focus on improving the health of communities through data, analytics and performance improvement services.

Premier’s own descriptions state that it offers integrated data and analytics, collaboratives, supply chain solutions, consulting and other services. In various news releases and SEC filings, Premier characterizes itself as a healthcare improvement and performance improvement company that uses technology and data to support cost, quality and operational efficiency objectives for healthcare organizations. In at least one investor-focused communication, Premier notes that it provides solutions to a large portion of healthcare providers in the United States.

Business focus and activities

Across its press releases and financial reports, Premier highlights several recurring areas of activity. It emphasizes supply chain services, including group purchasing and supply chain management services, as well as performance services, which encompass data, analytics and consulting offerings. Premier’s financial disclosures separate its operations into a Supply Chain Services segment and a Performance Services segment, indicating that both areas are important to its business model. Within Supply Chain Services, the company reports net administrative fees and revenue from software licenses, other services and support. Within Performance Services, it reports revenue from activities such as consulting and technology-enabled offerings.

Premier also describes the use of digital supply chain solutions, supply chain co-management services and various technology-enabled tools designed to support healthcare providers and suppliers. In one news release, Premier notes that it will provide group purchasing and supply chain management services to a closed-door infusion pharmacy under a multi-year agreement, illustrating how its group purchasing and supply chain capabilities are used in practice. The company’s communications consistently connect these services to goals such as operational efficiency, cost containment and support for clinical and operational outcomes.

Role in the healthcare ecosystem

In its "About Premier, Inc." sections across multiple releases, the company describes itself as playing a "critical role" in a rapidly evolving healthcare industry by bringing together providers, suppliers and payers, and in some descriptions policymakers, to improve healthcare. Premier’s stated mission is to improve the health of communities, and its offerings are framed as supporting that mission through technology, data, collaboratives and advisory services. The company also references its work across the healthcare continuum, including what it calls continuum of care purchasing and support services.

Premier’s filings and press releases emphasize the use of actionable intelligence drawn from data and analytics, as well as the use of collaboratives where members work together on performance improvement. The company’s communications also reference technology-enabled innovation in supply chain and performance improvement, and the use of advisory capabilities to help members address cost, quality and operational challenges.

Corporate structure and ownership changes

Premier’s Class A common stock was listed on the Nasdaq Global Select Market under the symbol PINC. According to a Form 8-K dated November 25, 2025, Premier entered into an Agreement and Plan of Merger under which a subsidiary of Premium Parent, LLC (an entity affiliated with funds managed and advised by Patient Square Capital) merged with and into Premier. The filing states that on November 25, 2025, at the effective time of the merger, each issued and outstanding share of Premier’s Class A common stock (subject to specified exceptions) was converted into the right to receive cash consideration. As a result of the merger, Premier became a wholly owned subsidiary of Premium Parent, LLC.

The same Form 8-K explains that Premier notified Nasdaq that the merger had been completed and requested that Nasdaq suspend trading of Premier’s Class A common stock prior to the opening of trading on November 25, 2025. The company also requested that Nasdaq file a Form 25 to remove the listing of Premier’s Class A common stock from Nasdaq and deregister the shares under Section 12(b) of the Exchange Act. The filing further states that, after the effectiveness of the Form 25, Premier intends to file a Form 15 to terminate the registration of its Class A common stock under Section 12(g) of the Exchange Act and suspend its reporting obligations under Sections 13 and 15(d) of the Exchange Act.

Financial reporting and segments

Premier’s financial results, as reported in its earnings press releases and corresponding Form 8-K filings, provide additional insight into its operations. The company reports net revenue and segment results for Supply Chain Services and Performance Services. Supply Chain Services segment disclosures reference net administrative fees and revenue from software licenses, other services and support, as well as activities such as supply chain co-management and digital supply chain solutions. Performance Services segment disclosures reference consulting revenue and technology-related offerings, along with segment adjusted EBITDA and other non-GAAP measures.

Premier also describes its use of non-GAAP financial measures such as EBITDA, adjusted EBITDA, segment adjusted EBITDA, adjusted net income, adjusted earnings per share and free cash flow. In its explanations, the company states that these measures are intended to help management, the board and investors compare operating performance over time by adjusting for certain non-cash items, non-recurring items and other factors. Premier explains how it defines these measures and why it believes they provide additional perspective when viewed alongside GAAP results.

Mission and partnerships

Throughout its communications, Premier links its business activities to a mission of improving the health of communities. It describes partnerships with healthcare providers and other organizations that use its group purchasing, supply chain, data and consulting services. In one example, Premier announces a five-year group purchasing agreement with an infusion pharmacy that serves patients across multiple U.S. states, highlighting how its group purchasing services are used to support expansion into ambulatory infusion clinics and outpatient infusion services.

Premier’s descriptions of its own role emphasize collaboration with members, the use of technology and data to provide actionable intelligence, and a focus on cost, quality and operational performance. These themes appear consistently in the "About Premier, Inc." sections of its press releases and in its investor-focused communications.

Status of PINC as a trading symbol

For investors researching PINC as a stock symbol, it is important to note that, based on the Form 8-K dated November 25, 2025, Premier’s Class A common stock ceased trading on Nasdaq as of that date in connection with its acquisition by an affiliate of Patient Square Capital. The same filing describes the company’s intention to delist and deregister its shares and to suspend its periodic reporting obligations. As a result, PINC now represents the historical public listing of Premier, Inc. prior to its acquisition and transition to private ownership.