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Premier (PINC) investor relations material
Premier Baird Global Healthcare Conference 2025 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Company overview and recent performance
Operates as a healthcare performance improvement company with supply chain, technology, and advisory services, generating about $1B in annual revenue and a $2B market cap.
EBITDA margins are in the mid-20% range, with expectations for improvement over the next few years.
Manages $87B in purchasing spend, serving 4,300 health systems and 300,000 sites, with access to nearly half of U.S. hospital discharges.
Recent strategic review led to divestitures and significant share buybacks, with a focus now on executing long-term growth strategies.
Over-delivered in Q3 and Q4, with positive momentum expected to continue into 2026 and an inflection point anticipated in 2027.
Supply chain services and contract dynamics
Supply chain services account for over 60% of revenue, with gross administrative fees growing 3–4% annually.
Contract penetration remains around 60%, indicating ongoing opportunities for increased member spend and fee growth.
Recent contract restructuring with large members has increased fee share paid back, creating a headwind for FY2025 but expected to be completed by FY2026.
Growth is primarily driven by existing members, with new wins like Allspire providing additional tailwinds.
Digital and co-management supply chain businesses are growing at double-digit rates, expected to drive faster growth post-2026.
Performance services and advisory momentum
Performance services represent less than 40% of revenue, with advisory services expected to grow by at least 25% in FY2026.
Four recent large advisory contract wins are the biggest in recent history, each spanning 18–24 months and performance-based.
Advisory contracts focus on cost reduction for clients, with upside potential tied to savings achieved.
Advisory business was a drag on margins in FY2025 but is expected to drive margin improvement as it scales.
Long-term target for advisory EBITDA margins is about 30%, with overall performance services margins expected to improve in FY2026 and inflect in 2027.
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