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Premier Inc (PINC): 37.89 -0.85 -2.19% Volume: 432,185 December 13, 2019

Premier Inc. and Texas Health Resources Partner to Scale Innovation in Healthcare Cost Management

July 31, 2019

Launch regional supply chain organization to expand high-value cost reduction and efficiency improvement opportunities across North Texas

ARLINGTON, Texas & CHARLOTTE, N.C.--(BUSINESS WIRE)-- Texas Health Resources and Premier Inc. (NASDAQ: PINC) have formed a regional supply chain organization to further scale advancements in total cost management for healthcare providers across North Texas.

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Texas Health, which provides coordinated care across its 26 hospitals, physician group, trauma centers, outpatient facilities, and home health and preventive services, has worked with healthcare improvement company Premier for more than 20 years to deliver consistent high-quality, affordable care to its communities. The two organizations jointly developed the new regional supply chain organization to drive cost reduction and efficiencies in the sourcing of high-quality purchased services and physician preference items.

“As we focus on the future of healthcare in North Texas, we must continue to innovate across every aspect of care,” said Shaun Clinton, Senior Vice President of Supply Chain Management at Texas Health. “This new regional organization will build on our two organizations’ powerful scale, successful business models and industry insights to create a technology-enabled, supply chain partnership that allows us to more effectively source certain products and services at the local level.”

The new structure will allow Texas Health and its affiliates to aggregate and receive optimal value through a strong regional model for locally-sourced products and services that complement Premier’s national contract portfolio. Additionally, Texas Health will continue to leverage Premier’s national group purchasing organization and its highly committed purchasing program, SURPASS, to drive compliance and scale for the purchasing of clinically efficacious products across its health system.

“We are thrilled to be partnering with Texas Health to bring more value to their health system and other providers in their region,” said David A. Hargraves, Senior Vice President of Supply Chain at Premier. “Working side by side with our members on local purchasing efforts provides more opportunity to eliminate inefficiencies and duplication, while supporting their overall strategic objectives.”

The financial impact of the agreement was not disclosed.

Forward-Looking Statements

Matters discussed in this release that are not statements of historical or current facts, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Premier to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. Accordingly, readers should not place undue reliance on any forward-looking statements. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements in the conditional or future tenses or that include terms such as “believes,” “belief,” “expects,” “estimates,” “intends,” “anticipates” or “plans” to be uncertain and forward-looking. Forward-looking statements may include comments as to Premier’s beliefs and expectations as to future events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside Premier’s control. More information on potential factors that could affect Premier’s financial results is included from time to time in the “Forward-Looking Statements,” “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Premier’s periodic and current filings with the SEC and available on Premier’s website at investors.premierinc.com. Forward-looking statements speak only as of the date they are made. Premier undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise that occur after that date.

About Texas Health Resources

Texas Health Resources is a faith-based, nonprofit health system that cares for more patients in North Texas than any other provider. With a service area that consists of 16 counties and more than 7 million people, the system is committed to providing quality, coordinated care through its Texas Health Physicians Group and 26 hospital locations under the banners of Texas Health Presbyterian, Texas Health Arlington Memorial, Texas Health Harris Methodist and Texas Health Huguley. Texas Health access points and services, ranging from acute-care hospitals and trauma centers to outpatient facilities and home health and preventive services, provide the full continuum of care for all stages of life. The system has more than 4,000 licensed hospital beds, 6,200 physicians with active staff privileges and more than 25,000 employees. For more information about Texas Health, call 1-877-THR-WELL, or visit www.TexasHealth.org.

About Premier Inc.

Premier Inc. (NASDAQ: PINC) is a leading healthcare improvement company, uniting an alliance of more than 4,000 U.S. hospitals and health systems and approximately 165,000 other providers and organizations to transform healthcare. With integrated data and analytics, collaboratives, supply chain solutions, and consulting and other services, Premier enables better care and outcomes at a lower cost. Premier plays a critical role in the rapidly evolving healthcare industry, collaborating with members to co-develop long-term innovations that reinvent and improve the way care is delivered to patients nationwide. Headquartered in Charlotte, N.C., Premier is passionate about transforming American healthcare. Please visit Premier’s news and investor sites on www.premierinc.com; as well as Twitter, Facebook, LinkedIn, Instagram and Premier’s blog for more information about the company.

 

Source: Premier Inc.

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