Premier at BofA Securities Conference: Navigating Challenges and Growth

On Tuesday, 13 May 2025, Premier Inc. (NASDAQ:PINC) presented at the BofA Securities 2025 Healthcare Conference, highlighting its strategic efforts to address current healthcare challenges. The discussion covered both positive aspects, such as technology investments, and concerns like tariffs and labor shortages. CEO Mike Alkire emphasized Premier’s focus on data integration and supply chain improvements, while CFO Glenn Coleman detailed financial strategies and growth opportunities.

Key Takeaways

• Premier is investing in technology to improve healthcare systems’ performance and supply chain management.
• Tariffs are a significant concern, with potential cost increases of 6% to 7% for hospitals.
• The GPO business is progressing with 80% renewals completed, aiming for growth in contract penetration.
• Premier plans to resume growth in 2027, focusing on AI and machine learning.
• A $100 million annual cash flow increase is expected from the elimination of the TRA payment.

Financial Results

• Q3 saw outperformance in both Supply Chain Services and Performance Services.
• Supply Chain Services benefitted from gross administrative fee growth.
• Q4 expectations are flat to slightly down, but fiscal year 2026 is projected to improve.

Operational Updates

• Premier’s GPO business is nearing the end of its renewal cycle, with a focus on increasing contract penetration.
• The company is leveraging data from 45% of U.S. hospital discharges to enhance its benchmarking capabilities.
• Premier differentiates itself with technology integration into EMR systems like Epic and Cerner.

Future Outlook

• Growth is anticipated to resume in 2027, driven by investments in AI and machine learning.
• The company is pausing share buybacks but remains committed to a 4% dividend yield.
• Premier’s strong balance sheet and elimination of the TRA payment are set to bolster cash flow.

Q&A Highlights

• Tariffs are a major concern, with Premier developing tools to help members understand and mitigate impacts.
• The GPO business is expected to complete most renewals by the end of fiscal year 2026.
• Premier is exploring opportunities in purchased services and physician preference items to enhance contract penetration.

For more detailed insights, refer to the full transcript below.

Full transcript - BofA Securities 2025 Healthcare Conference:

Unidentified speaker, Interviewer: Here. We have President and CEO, Mike Alkire, and Chief Administrative and Financial Officer, Glenn Coleman. Thank you both for joining us. You know, I think the the big focus for the past several weeks and months now has been the macro backdrop, what’s going on there with tariffs, now the executive order on on drug prices. There’s a lot of focus on this presidential administration, will they, won’t they with tariffs.

But can you talk about what your health care provider members are currently experiencing as they think about all these uncertainties and really how Premier is positioned to help them?

Mike Alkire, President and CEO, Premier: Yes, sure. First of all, thanks for having us. So a couple of things. You sort of mentioned the issues associated with tariffs, and that’s coming and going. I I feel like that’s incredibly fluid.

And so we’ll see how that kind of plays out. But you know given that some of the negotiations that happened over the weekend with China, you know, I think I’m a bit more bullish that we’ll get some resolution around that. Things that are given that I’m not so sure that will change in any short period of time are, you know, the the labor crisis that’s that’s affecting the healthcare system. So, I think everybody is aware of this that follows healthcare. You know, we had a a lot of folks resigning during COVID.

People that we had expected to be in the labor force for a number of years and I just think that they got burned out and decided that wasn’t for them and and so we’ve we’ve got significant shortages, you know, and and a lot of people talk about, you know, nursing shortages but boy, when you go around talking with healthcare systems executive, you know, we’re we’re we’re talking about radiation technologists, pharm techs, just core people that you need to keep a hospital running. So, we still are struggling quite a bit with labor shortages. The impending Medicaid side that was kind of championed, there were some conversations around yesterday. I think that’s about, I don’t know, potentially an $80,000,000,000 impact on health care. That’s going to be huge.

So, you know, the health care systems are going to have to think about structurally how are they going to realign themselves so that they can absorb that kind of impact. And so, but I tariffs are, you know, I think shorter term, think labor longer term, and then these Medicaid cuts, these independent Medicaid cuts are going to be big drivers of how healthcare systems are going to operate. In terms of how how are we sort of, you know, aligned to sort of support them and I I know there are going to be some questions associated with, are these things going to have an impact on their ability to spend money on services and those type of things. But I got to tell you, we’ve made the right levels of investments in technology to do a number of things. First, we’ve got a lot of core capabilities to help healthcare systems understand other performances and how they think about spending cost curves.

So, you know, we we like to go in and and have broad based conversations around things around, are you negotiating rates with payers? Are you doing the right things in terms of standardizing your clinical care? Are you doing the right things in supply chain? You know, are you doing the right things in labor? Are you utilizing labor appropriately?

So, we do a lot of analytics. We have a ton of data obviously and and we have technology where we can actually help them benchmark and understand the improvement opportunities where, you know, they they need to drive performance improvement And then after you do those exercises around performance improvement, what’s very, very unique about our capabilities is we have the ability to write things into the workflow, which is Epic, and if you think about Cerner, those kinds of EMRs. And that’s something that’s very unique to us, in that we’ve been doing this now probably for three or four years, where we’ve been impacting the way that how physicians, you know, treat patients and those kinds of things through alerts and drop down, you know, boxes and those kinds of things. So, anyway, I I think we’re very very well positioned to help healthcare systems think about, you know, the future and how they would be actually building out capabilities to support their community. Yeah, I’d add a couple things.

So, on the tariff point, we recently built a tool for our members where they can see where product is being sourced from, what the impact of the tariffs is. That’s been very helpful for them as they manage through this tariff discussion, which is fluid. In addition, as Mike mentioned, we’re integrated into the workflows of our members. And so from an AI point of view, we’re doing a lot around reimbursement, coding, ensuring that our members are being properly reimbursed, and that’s a big focus for us moving forward.

Unidentified speaker, Interviewer: Yes. I want to talk about the tariffs a little bit around some of the things Mike you mentioned. We did our quarterly survey, found that hospitals were worried about maybe a 6% to 7% increase in cost around tariffs, and clearly, it’s fluid. No one knows what’s going to happen as it relates to their P and L.

Mike Alkire, President and CEO, Premier: You mentioned a couple

Unidentified speaker, Interviewer: of things, standardizing supply chain using technology and benchmarking, AI that you’ve been building out for a long time period. As you think about the concerns that your customers are having today, does the tariff piece, does that add urgency for them to add specific things from Premier? And what have you seen in your recent conversations with your customers around those opportunities?

Mike Alkire, President and CEO, Premier: Yes. So first of all, from a tariff standpoint, the health care systems don’t have the ability to absorb those tariffs, right? So I know you’re out having conversations in your area, six to 7%, but I will tell you their operating margins are not many of them are 23%, some of them are pretty flat depending on the parts of the country that that they’re in. So, they don’t have the ability to to consume tariffs at those levels. So, yes, there’s a heightened sense of urgency.

Glenn talked about some tools that we’ve developed where you know, based on where products are manufactured, you guys know that’s pretty sophisticated in terms of how the tariffs are levied. So we have some pretty sophisticated capability to understand the various parts of a product where it’s being, you know, manufactured and then, we can actually help them understand really what the impact, the real impact is and then, most importantly, help them understand products that won’t be impacted by the tariffs, right? So that’s really important that they have the options to understand where the tariffs are going to be, where they could be negated. But it is it’s interesting. It’s driving all forms of compensation, this is something that’s really important.

Now they’re looking for, you know, additional streams of revenue. So how do I maximize the relationships with the state? How do I ensure I’ve got better access capability? I’m I’m seeing a big shift to more market oriented kind of capability for the health systems, identifying, you know, how to get people into the system, how to ensure that once they’re in their system, they’re being, you know, appropriately treated but you know, maintained within the system. But boy, I’m I’m starting to see a lot of strategic interest in that side of our business as well.

But that is all being driven by the tariffs. But I will also say the potential impact on Medicaid. And I would add, most of our contracts are what we call firm for the term. So there is fixed pricing in those agreements for multiple years, which legally and contractually helps our members out. You know, having said that, we do have a committee that we established with our members where it may be appropriate to pass some of that pricing through but that’s really a decision that’s based upon our members saying yes, not us.

Because at the end of the day, we want to make sure we have healthy supply chains, right? If we have supply shortages or sole source suppliers in certain cases, we want to make sure that they’re not pulling out of the market. And so we have established some committees and and we will, you know, see some of that probably pass through at some point in time. Yeah. Well, it it it just depends how tariffs get implemented and you know, the length of contracts.

So, one of the things kind of interesting, people always ask, how is this different from COVID? In some cases, it’s it’s very similar to what happened with COVID in that, you know, suppliers are going to hold their pricing as much as they possibly can hold it and then, you know, most likely, if they can’t actually provide the product that the a reasonable margin, then, they’ll come and say, look, we’re up, we’re in agreement. And then to Glenn’s point, that’s where this committee kind of kicks in and they determine whether or not they’re going to accept this or not. And if the answer is not, then they’re going to be looking for alternatives that, you know, where people are not going to be or their health system is not going to be as impacted by these tariffs. I mean, that’s just how the process will continue to work out.

I, I, it’ll, it’s too early to tell, and I don’t want to be overly positive. But if we can keep working through some of these tariffs I’m I’m hoping that as some of these contracts come back up in a year, two years, three years, that you’re not going to see the impacts that we’re we’re worried about.

Unidentified speaker, Interviewer: Okay. Interesting. I want to just last question on tariffs there. Glenn, you mentioned firm for the term. I like that phrase.

As you think about tariffs, there’s a lot of different stakeholders that could be impacted. You have the manufacturer, obviously the GPO provider, patient, insurance company. There’s a lot of different ways for tariffs to flow through the system. You mentioned that there’s a lot of fixed terms for your products. How do you, how would you envision, you know, let’s just say a blanket, 5% increase, like, how would that, how would you expect that to go through, you know, if that went through today or the next year, like who is going to take the brunt of that impact?

Mike Alkire, President and CEO, Premier: I, it’s, again, too early to tell, but I think it will be spread across healthcare. You’re going to have some suppliers going to have to take the brunt of it. I, know, because they’re just in a scenario where very healthy market and there’s competition where people may be not exposed to the same kind of tariffs. You’re going to have wholesalers that, in some cases, are going to hold the wholesalers and distributors. I’ve already got some that say that they’re going to hold the line on what they’re going to do in terms of passing along that pricing.

So that means they’re going to hold some of it. I I I think we’d be naive to say that the healthcare systems aren’t going to be you know, you know, potentially impacted by it, which, you know, then potentially, you know, if you go all the way full full circle might impact, you know, patients and then might impact federal government at some point, right? Where they might have to do increases in market basket for those kinds of things to ensure that some of these communities can continue to be served by some of these health issues. Yeah. So, I I it’s hard.

It’s really early. You know, it’s really hard for us to be labor like focus and say, these are the folks that are going to absorb it. I think it’s going to be category specific.

Unidentified speaker, Interviewer: Got it. Makes sense. I want to pivot a little bit here to the GPO business. You’re almost through renewals. I think there’s a lot of interest around what the reset baseline for this business could look like.

Can you talk about how we could think about the baseline heading into next year and your ability to resume growth in 2027 and beyond?

Mike Alkire, President and CEO, Premier: Yes. So if you look at where we are today, about 80% of the way through as we exit this quarter, which means we have 20% to go. We think ultimately, we’ll be pretty much complete by the end of fiscal year twenty six with all the negotiations. There may be a few that are still outstanding, but the vast majority will be done by the end of fiscal year twenty twenty six. And the aggregate blended fee share is probably in the high 60s versus low 60s today when all said and done.

Having said that, our supply chain services business continues to do much better than expected. We’re really driving better contract penetration. We talked about 3.5% growth year to date on our most recent earnings call, seeing good growth across key categories for us, medical, surgical, diagnostics, food, pharmacy. Those are important categories for us all seeing growth. Lots of opportunity to continue to get more contract penetration.

If you look at the total spend that we captured today in the hospital system, it’s probably 50 to 60% on the side and non acute side is even less than that. So, we still have a long runway ahead of us relative to the amount of contract penetration we can get and so we’re pretty excited about the gross administrative fee is growing. Obviously, for the next twelve months or so, we’re still going to be dealing with higher fee shares offsetting a lot of that gross administrative fee growth. But we’ve outperformed so far this year. We had another beat in the previous quarter in Q3.

We said we’d be at the high end of our guidance range for Supply Chain Services as we exit the year. And so yes, year over year, we are down, but we’re doing a much better job of managing the overall headwinds. And I think as we go into 2027, I think we’ll start to see the inflection point faster growth. Got it. Appreciate those comments.

Unidentified speaker, Interviewer: And Glenn, you talked about contract compliance. You’re 50% to 60% penetrated within your hospital customers. Where I don’t want to call low hanging fruit, but where is the where are the biggest opportunities for we’ve talked about contract compliance for a while. In 2025, where are the opportunities today? And are they the same opportunities as it was three to five years ago?

Has it evolved? Are there new things that you’re looking at? Just curious kind of where your customers are improving contract compliance in there. Yes.

Mike Alkire, President and CEO, Premier: I think driving more product categories onto contract is obviously going to help us as we go forward, having customers that are doing our for path program, which is a compliant program, is going to help the overall spend levels. But if you look at just other categories outside of medical supply, we have a purchased services business, so everything outside of goods that you’re buying. So these are third party services for everything from landscaping to maintenance to linen services, things of that nature. That’s untapped, right? And so that’s untapped spend that we’re going after.

I think physician preference items is another area where physicians are still using preference items and we have a clinically equivalent product that’s out there at a cheaper price, really driving towards that in terms of getting more spend on contract versus a physician using a product that they’re comfortable with, that they were trained on and all that. And so those are the areas that we think there’s more opportunity in. Couple of things real quick on PPI. Again, I think from a differentiation standpoint, we have debated the intelligence to work with those physicians and PPI to show them, you know, whether or not there’s any, you know, clinical differentiation from an outcome standpoint and for the most part, that’s what they’re really keen on understanding as they’re really any outcome differentiation and so but we have some very very unique dividend capability. Number one, number two, once we actually do begin to, you know, train physicians and looking at some of these areas, we have the ability then to, you know, through the workflow, be able to ensure that, you know, they’re following different formularies and doing the appropriate work and those type of things.

So, very core system, very very unique to our organization and then, to purchase services, you know, we’ve acquired an asset few years back that again, it’s it’s not just an analytic capability but it is actually its own GPO. And so, because because purchase services is so vast, I do think you need infrastructure like that to really get after it. Otherwise, it just becomes a consulting exercise and again, I think, you know, that’s that’s that’s very differentiated for our offering versus others in the market.

Unidentified speaker, Interviewer: Great. And then one last one on the DPO here. Can you talk a little bit about the competitive landscape? Glenn, you talked a little bit about net admin fees into next year and kind of

Mike Alkire, President and CEO, Premier: where the trajectory could go. Can you

Unidentified speaker, Interviewer: talk about if anything’s evolved in the competitive landscape for net admin fees and whether or not there’s been more competition, less competition if the environment has become more stable. Just anything you can talk about from a competitive landscape perspective.

Mike Alkire, President and CEO, Premier: I will always say that it’s a very competitive environment, right? There’s, you know, there’s a few of us that sort of lead the industry and then there’s other that, you know, maybe regional and those kinds of things. But I I so the environment is very very competitive. I I think it, you know, it comes down to these committed programs that Glenn talked about. Who can truly, you know, drive, you know, outstanding value from a pricing standpoint and into technology.

Of which, you know, we’ve made some pretty significant investments in doing, you know, building out diagnosis technology around looking at opportunity for driving standardization. We’ve made some pretty significant investments on doing more pricing kind of studies and those kinds of things where maybe we don’t have a specific contract in a category where we could bring price benchmarking and those type of things. Very, very, some very unique stuff that that we could will kind of create. So, I I think that it will always be competitive. I think that some of our competitors do some things that we do and and some don’t.

And so, you know, our job is really to ensure that, you know, we’ve got the right teams in place that are going off to the market and and moving market share towards demand. Yes, I would say, I don’t think it’s gotten any more competitive. It’s competitive in general. So I don’t think the market has changed in that perspective. But to Mike’s point, the way we win is we differentiate with our technology and we differentiate with our data.

We have access to 45% of all hospital discharges in The U. S. We have access to data that nobody else has access to. And so we really try to use that data to our advantage when we look at the detail of the business.

Unidentified speaker, Interviewer: Yes. As we kind of that takes me to the next set of questions here around the Performance Services business. The benchmarking product that you have, really in a normal environment, it seems like it would be a really great opportunity for your customers and your prospects to learn more about how they compare to their competitors. Can you talk a little bit about how and you kind of alluded to it a little bit, Glenn. In this type of environment where there’s so much uncertainty, what are the opportunities?

I guess, can you talk about what type of penetration do you have into your customer base using benchmarking, for example? Can you talk about the types of modules that you sell there? Is there an opportunity to sell more? It seems to me like this business is clearly a competitive advantage because you have access to you mentioned 45 of claim. Can you talk about those things?

Mike Alkire, President and CEO, Premier: Yes. So that 45% is really focused on adult discharge data. So, you think about charges, that that’s where that number comes from. We do pull in all the, you know, claims data for exercises. We do pull in EMR data.

You know, and we’re building out performance improvement agendas. I think the things that differentiate us as we focus towards helping our health systems drive performance improvement. One, you know, we bought that Truven 100 top platform a couple of years ago. It’s really interesting. I was down at my son’s graduation at University of Texas and I see the banner on a non premier health system.

HCA, I think it was, but it’s always good to have, you know, other health systems that don’t necessarily partner with you in the supply chain or significantly in performance services. They do some of our tech stuff. But it’s really nice to see them carrying a moniker like that, right? Because then it gives us the opportunity to go in and and help them either reaffirm why they perform the way they do or help ones that actually, you know, want to become 100 top performer, help them understand how they can get there, what are the things they need to do in terms of either care standardization, driving costs lower, you know, those kinds of things. So it starts with that, and then it Glenn’s talked about the data on a number of different answers.

And so it comes with the data and the benchmarking that we do behind the scenes and then we, you know, we create collaboratives where the best performing health systems actually talk about why they’re performing at the levels that they do and there are, you know, it’s an educational opportunity for those that aren’t. And then, you know, we have that’s that’s sort of that one to many opportunity and then, we have the one on one advisory capability and I’ll tell you, we’ve got brand new leadership in the company. Incredibly excited about Dave Zito and and others that have been you know joining the organization. And it just brings a whole different level of advisory capability that we didn’t have in the past. And so you know, I will say we’ve always been focused on performance improvement.

They now do stuff around revenue, revenue cycle. They do stuff on contract negotiations. They do stuff on how to work more effectively with this, you know, with states and those type of things. So, there’s just a whole different capability that we didn’t have just a matter of, you know, a year or two ago. So, really, really excited about that and then, as I started the whole conversation, we have the ability once we do drive that performance improvement to lock it in, lock it into the workflow, which is really differentiated in the market.

If you can actually kind of codify how to provide care at the best outcomes and the lowest cost, that’s something very unique and it’s something that healthcare systems vitally need.

Unidentified speaker, Interviewer: Really helpful. I want to move over to the guidance and the outlook because the quarter was really strong on the sequential improvement we saw around fee growth. Can you talk about what drove the strength there as we look at fee growth in the third quarter and really the cadence into fiscal 4Q, which I think guidance is implying might be flat to down. But what drove the strength in 3Q? You talk about, I guess, what you’re seeing early so far in 4Q?

Mike Alkire, President and CEO, Premier: Yes. I mean both of our segments had outperformance in Q3. So it was largely Supply Chain Services, but Performance Services also outperformed expectations. If I look at Supply Chain Services, clearly the gross administrative fees continuing to grow in the categories. And we’ve been, I think, pretty conservative on our assumptions around what we can do around that top line growth.

So we’ve been beating some numbers even though it’s down year over year when you look at the net admin fees because of the fee share. We are ramping up some new members as well. That should continue as we get into Q4 and beyond. And those are competitive wins. So I would say on the whole, that’s going well.

And then we have a smaller part of our supply chain business, which is digital supply chain and supply chain co management, which are actually growing. And so that’s helping as well to offset some of the headwinds we’re seeing on the fee share. So supply chain services sequentially was actually up a meaningful number, about $12,000,000 All of it flowing through to EBITDA. It’s a very high margin business, so it’s dollar for dollar drop through when we have those feeds. On the performance services side, we had a really strong quarter on enterprise licenses.

These are software licenses with our technology, with our customers, really showing that we do have some pretty good momentum there and that can be choppy from quarter to quarter. So, you know, you look at Q2, we’re a little bit light. Q3, we’re actually above expectations And so when we look at our guidance for Q4, to your point, we’re modeling sequentially to be down slightly. These enterprise licenses are expected to drop down Q3 to Q4. We’re being a bit conservative around what we think we’re going to do.

Could that be better? Of course, it could be if we get a couple of deals signed here that would certainly help us overachieve in Q4 on the supply chain services side. Again, it’s more feed share pressure from Q3 to Q4 even though it’s modest. So, we have, you know, a roll off of certain customers and some new customers ramping up and that’s causing some of the sequential decline there but I’m optimistic that if we can have a solid Q four, we’ll actually show, you know, sequentially flat numbers and maybe even a bit of sequential growth. Right now, we’re guiding to down slightly sequentially.

Got it. I want

Unidentified speaker, Interviewer: to kind of take that commentary. And I think, Glenn, on the call, you talked a little bit about the framework around the model, gross admin fee growth and how that flows through to net admin fee growth. As you think about and I’m not looking for guidance for forward looking guidance, but as you think about fiscal ’twenty six and you think about the trajectory of the business, is there any way to think about just like high level thoughts about momentum heading into next year?

Mike Alkire, President and CEO, Premier: Yes. I think certainly we’re going to have better performance than we had this year would be an expectation. We’ll be on the back end of the fee share renegotiations. We still have the annualized effect from the ones we did this year, plus 20% or so to go as we go into next year. So if you kind of look at that pressure, offset it with some gross administrative fee growth, offset it with some of the other areas of supply chain we would expect to grow like supply chain co management where we won a couple of new deals there as well.

Net debt, we’d still expect to be down, but not nearly the magnitude that we saw this fiscal year. In the Performance Services side of our business, I would just say we’re very optimistic on some of the plans to reinvigorate that part of our business. We just brought in a new leader overseeing that business, say, new leader was hired three, four, five months ago. And we’ve got a lot of new people that have joined us that are bringing new capabilities to the organization. So I’m really excited about the opportunity and potential we have, especially in our consulting and advisory services business that goes with everything that we sell, from the DPO side and supply chain services to the Performance Services side of the business.

So we’re not going to give guidance yet, but clearly, that would be an area we would expect to grow over the long term when we look at Performance Services. So I would just say for now, than this year in terms of the performance level, but still modeling probably slightly down overall. Got it.

Unidentified speaker, Interviewer: And as we think about capital deployment here, we’ve been very active with share repurchases. As we think about the business here,

Mike Alkire, President and CEO, Premier: looking forward, clearly, the trajectory of margins

Unidentified speaker, Interviewer: could go in different directions. But as you think about M and A, share repo, the potential for stabilization in the net admin fee, how do you think about capital deployment given where the share price is? What’s sort of the framework you have heading into next year?

Mike Alkire, President and CEO, Premier: If I could just talk at the highest level, then you can talk a little bit about framework. We’ve got to get back to growth, right? I mean, that’s the focus of capital. Areas where we want to continue to think about additional capital investment are things in our clinical decision support, the AI machine learning capability. We’re doing a bunch of stuff with prior authorization.

We’re doing stuff with coding and documentation, very unique stuff, incredibly excited. So looking for add ons, bolt ons, tuck ins in those areas. And then in supply chain, you know, we’re going to continue to look around technology that can support us in the maybe purchase services, you know, PPI kind of areas. Those are going to be areas that, you know, we think have an opportunity for growth but also will differentiate us in the market. The last thing you kind of asked when to point on but Glenn, I did want to mention that why we’re so positive about the future is the TRA payment goes away, and we have the $100,000,000 of additional cash flow that starts coming post the July time frame.

Yes, that’s two months away. So just taking a step back, we have a really good balance sheet. One of the real positives walking into this role was a company that’s not highly levered. We’re less than 1x. The only reason why we have debt right now outstanding is we did a $200,000,000 share buyback and we borrowed off our credit facility to buy back shares given that it’s at a very attractive level at $17.18 dollars per share.

That looks like it was good decision at this point but very low leverage generate really good cash flows, cash flows. We’re going to see the inflection starting in two months because of the $100,000,000 benefit that we’re going to start to see coming through. So that’s a big positive. Mike hit on the capital deployment priorities. Growth, growth, growth.

And it’s going to be organic investment coupled with tuck in acquisitions to get us to where we want to be, and you mentioned the areas that we’re looking at. We pay a very attractive dividend yield. We’re just around 4% today, so that will continue as we go forward. On the share buyback side, I would just say we bought back $800,000,000 or about 38,000,000 shares over the last eighteen months. That’s about onethree of our share count.

So we’ve had some significant share buybacks. And so I think we’re going to probably put a pause on that given where we’re at and really focus on the growth areas that Mike talked about. Perfect. Sounds good. We’ll leave

Unidentified speaker, Interviewer: it there. Thank you, Glenn.

Mike Alkire, President and CEO, Premier: Thank you, you. Appreciate it. Thank you.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.