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PINC Premier

Participants
Angie McCabe Vice President, Investor Relations
Susan DeVore Chief Executive Officer
Mike Alkire President and in-coming CEO
Craig McKasson Chief Financial Officer and Chief Administrative Officer
Lisa Gill JPMorgan Securities
Richard Close Canaccord Genuity
Jonathan Young Barclays
Jermaine Brown Credit Suisse
Donald Hooker KeyBanc
Adam Noble UBS
John Ransom Raymond James
Iris Long Berenberg Capital Market
Stephanie Davis SVB Leerink
Sandy Draper Truist
Call transcript
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Operator

Ladies and gentlemen, thank you for standing by. And welcome to the Premier Inc. Fiscal 2021 Second Quarter Results Conference Call. At this time all participant lines are in a listen-only mode. After the speaker’s presentation, there will be a question-and-answer session. now today, hand of Angie would to conference Investor I speaker your McCabe, Instructions] like the to over Relations. [Operator Vice President you. Thank go Madam. Please ahead,

Angie McCabe

fiscal call. Thank second Premier Welcome you, Inc’s Cindy. quarter conference to XXXX

Officer; Our speakers Susan and McKasson, President are this Financial Craig Officer. in-coming and Chief Mike Chief CEO DeVore, and our Alkire, Premier's morning Executive Administrative

These the furnish included to June soon. Susan? harbor as our continuing measures X-K, turn the reconciliations appropriate, Form today Relations accompanying cash and statements including quarter, Before which to today. and encourage over our these Susan of in Pharmacy completion operations expect the our such section contain in supplemental release free to presentation for non-GAAP and earnings SEC this I copies are of non-GAAP the forward-looking note we factor get are undertake discussed of our Please at you we available second release X, we on in website flow accompanying of started, adjusted Factors our certain our those results we the are in Specialty filings review I fiscal supplemental XXXX. in which future of of want refer and differ this slides no update the financial investors.premierinc.com. to the the now with Also, today financial discussed reflect soon. call financial Form GAAP results materially statements measures our from obligation DeVore. appendix call to slides to Investor earnings file We results remind will will following to the XX-Q safe and SEC, everyone of measures that remarks speak that as exit we business to today could them. earnings disclosures. and might conference that the to Management's other financial actual to risk presented expect forward-looking sale detailed also where affect or

Susan DeVore

morning Thanks, us everyone joining Angie. thank and for you Good today.

this planned Alkire’s have As Chief earlier next appointment you Executive seen we and may retirement Officer. announced as Mike morning, Premier’s my

announced also XXXX career establishing full and than CEO Premier, and financial XX including the guidance. our nearly XXXX year quarter Mike second a X. are XXXX results After transitioning our effective at I retiring CEO, May on years We XX, June fiscal XX-year role to more am as

driven solutions and to other the a advance improved strategic deliver company focussed to built from innovative that is Following retirement outcome Company, have two strong an our and lower care, with for costs. objectives. to customers years. a members my successful better as foundation health Premier its the mission Together we them company continue care help that well advisory our employees is delivering I’ll positioned Premier has further and on

want their honor I directors. So to a a and after that Premier, decades so success. and his generation I the is dedication, quite nearly other to to seriously something business key have executing serving all been And proud of our employees Succession we've now focus and It's privilege health Premier for developing, continued instrumental for to passion been leader strategic and for seasoned the years Premier played in working communities, organizations I the is driving ideal improve be also their Mike their role our and on-going building talent is am evolution. that some The success. retire and leadership been Premier, to careful Premier’s he I with He's cultivating our positioning company's of executive of focus experience. the transition Over leadership. of I Mike for the me Premier to time. outstanding and at of the development commitment a member they me accomplished. for board while thank confidence has to and believe and consideration, has planning and responsibility oversee in its of It's their the next on time three of right and to company a a years key in member and on ensuring an much operational board customers for believe reflection growth over on thank the strategy, Board XX family. transition. our Premier’s directors for seamless of with technology take

thanks investment With perspective. results my turn your support, quarter of to second and our our to the and go guidance. everyone XXXX in discussion that, I'll now thoughtful for fiscal community Finally, out your a

in We’re achieved our growth execution second XX% which We and supply challenges despite services we our the value consolidated by net our second that quarter differentiated the in the segment services and XXXX, growth XX% revenue. deliver pleased net with with net solid and segment we reflect of results quarter on-going Compared the growth COVID-XX our produced results X% revenue performance pandemic. chain members. strong to caused fiscal revenue,

were expected, adjusted EBITDA the executed and in primarily adjusted to earnings we amended and GPO per year-over-year, extended As agreements August declined share due that XXXX.

discuss our our his announced our that also detail This to on-going COVID-XX profitability. are affect XXXX results remarks. Craig in fiscal pandemic financial we morning, in guidance. more the addition, will we In year-over-year continues establishing

his status midst provide of point we at more have we position in are pandemic, and remainder we where a are as the geography, utilization, or EPS a spread on consumer and regard and case and of business, the $X.XX of the million the healthcare to of the variants the on-going this impact guidance fiscal year, are be reopening With visibility businesses in still believe the key and to now we may While of across during to $X.XXX monitor the billion resurgence EBITDA revenue course of the be $X.XX. its renewed in to our closures by of billion virus to continue $X.XXX But $XXX behavior, the to net in adjusted or Craig adjusted we be consolidated $XXX additional pandemics range expect range the of detail we on to and in provide to million to currently of organizations ranges country. range be vaccine our remarks. for metrics. will other distribution, will

views to expectations. the administration, Biden from DC. the changes just members From I'd Washington we're of continue challenging the recent chain. support generally have macro following they environment We the navigate like to new are perspective, minutes in commentary a efforts provide to our a healthcare to this some few our resilient as encouraged by create more our advancing supply a of also and take and

First, our mass reopen the the therapeutic moving administration's testing U.S. the in number rebuild to and this COVID-XX this improving allow permeate ahead economy. is all for largest us backdrop treatments in one and and to safely capabilities We will history, rapid program believe build and order immunity, priority with year. herd vaccination decisions

extremely be during opportunity more narrow government and negotiations may Democrats to extreme the need create overall. and the likely by control pricing public themes all, drug change. includes of the and for unite changes avoiding the policy trends that the this Medicare an nation given continued care not for and campaign will of healthcare proposals same, investment key option achievable. like polarization, sweeping This proposed stabilized the believe margins many stay believe others. Second, a of than environment among Moreover, in regard, more will health innovation this direct rather In we we

do changes. incremental believe there we Third, will be important

directions the pandemic believe the highlighted COVID-XX one, accelerated. policy be will decade where has For underway areas the last we over

for leveraged by not systems. For example, telemedicine when differentiator is but only all and it pandemic a the likely be providers, working that will competitive it's so well during expand remain health will

have in will movement further payment pandemic. based arrangements care the models outperformed and clearly during the And value Second, to risk. new providers this

as the supply the which prevailing be into focus supply we reliant downstream on given healthcare nations, will the gaining foreign see reforming chain. believe and discussion there greater overly still visibility on Third, upstream and domestic a chain, manufacturing about we

that part pandemics. data, to investments focus is includes Washington. under to health major being interoperability, technology we'll technology also see that utilize and future in overcome emerging creating trends Lastly, likely on We well these infrastructure, incoming focus policy Alkire. as that all This to see access in better applications made so CEO providing harness data. and information claims Premier accelerating Mike I'll and now succeed our extremely in President the over turn and EMR positioned the to we to believe call a

Mike Alkire

the good ensure I'm to you, humbled, CEO role morning, to Thank Susan. leadership, a the for thank I and and closely contributions I transition. on her will take Premier. Susan Susan at months, work coming Premier. sincerely And and In guidance excited to smooth truly everyone.

to diligently long relationships grow them role. growth drive deliver term with will continue the we strategic term drive move will be long value company with in sustainable member years, strategy our to our to as its our relationships the I help have execution build I Over to priorities as And work members. strong of and CEO the I our and stakeholders. into leading forged we to alignment new strengthening

fiscal adjusted revenue, annual digits expect our multi-year earnings per the communicated business, on COVID-XX net adjusted to As EBITDA, have we we pandemic target single the XXXX, share. previously, for growth beginning mid-to-high in compound the and rates in and for adjusted of impact consolidated

pandemic. at they our the navigate challenges focused on helping strategy the are COVID-XX We the as our while of successfully executing same members time

source underway. staffing, the the our In supplies, have carry addition they with to critically campaign members out members our to ensure and needed the closely and access currently insights to suppliers working are to need we vaccination help mass and supplies,

a I'll repairing healthcare normal partner performance the quarter. playing role discuss our is to believe in are helping are the trusted We and as and country in the to the second return our business positioned we we uniquely economy. critical now connecting community

Sciences years, artificially our and improve the services Over believe markets. our focused a with our there's wraparound positions quality built including are advance the on penetrating need business. unique the to insights further foundation capabilities market uniquely with into and costs. We consulting In reduce total intelligent technology data for technology, we several services adjacent and our to services a real expand and we and business, us provider employer past payer, that to strong implementation leveraging have and Life markets, performance opportunity

is our capabilities our we offering, these connect coordinate artificial sciences fully example our expanding care uses network decision clinical expansion life appropriate of and into Through participants innovative improvement of sciences include clinical One address of automate machine learning that this are the We differentiated standardization to support the in healthcare a providers technology life and in with identifying the our more market. markets. and With intelligence, process we help companies. study. complex to

rate full pipeline anticipated fiscal this bookings have XXXX for an year We business. mid-teens strong with a the growth in

to demonstrate limiting technology drug In fact, we progression. our efficacy disease FSD Pharma and the engaged recently with use to COVID-XX

addition, wrap-around high authorization of we network Health, further direct-to-employer excellence are Contigo through our capabilities programs to platform, include network value providers, growth expanding and and In expansion of centers the expansion. prior additional

We continue national large differentiated strong from to healthcare value see offering. of our provider which this the demonstrates members interest and employers

of a representing the XXXX, manage fiscal lives. we increase half XX% fact, In first closed and new a of engagements during number

health outcomes. solidifying We following as the solution offering continue Contigo leading also amount our member chain differentiator services systems, that enable term us in potential second of with prior continue healthcare thereby member our enhancer. expanding our value capture, the authorization enabled we to to spend technology to and manage supply long a is through progress services our a total segment, advancing and develop a efforts the supply supply the technology quarter made to chain We our actions. chain further will In of provider connect goal as alongside to position

incremental of effort untapped comprehensive conductive to our customized member purchase in to capabilities This Yankee members local First, will our portfolio purchase with Alliance more drive offering further Yankees leverage members GPO contracts million. address around combined We services for are savings that to we build largely recently purchased analytics national, its using partnership conductive of members. our of $XXX spend, an area capture and spend announced to a a regional through services partnering services. long-term particularly

their work the We spend. and with we purchase additional doing forward services to with about are opportunities Alliance to address the look exploring are excited to partner our Yankee members

we Recently, Second, we health the the Royal advancing difficulty] are systems are with with to chain. more in partnering member along announced create supply our of strategy XX that resiliency [Technical industries our healthcare we are

Susan DeVore

phone Mike's to difficulty I'm not there's Mike? what can sure Angie, happened hear sounds like you

Angie McCabe

reached I out cannot, operator. to the I

Susan DeVore

supplies the Okay, pick of manufacturer the minimal joint partnering and through Prestige global to with why don't he up, continue Mike's partnerships oil and investment sorry, the there, I jumps Ameritech just gowns, announced We're up. simply back back to previously dedicated he then with could pick piece the on isolation hope domestic we capital through venture a industry, medical in, production if similar DeRoyal Mike. new it

Mike Alkire

deep so we are we guess systems believe gowns. we the supply we and dedicated long and resilient with to is I partnerships with am pursuing have are create our supply I Anyway, exemplifies actively categories second, chain. chain industries, previously member and capital advancing where global our we venture in strategies that more Ameritech joint healthcare the targeted supplier Royal production through This along COVID providers. the DeRoyal new to with announced I'm healthcare health Similar is diversify to to chain. of member supply relationships the strengthen it's manufacturer of to We announced a investment, are start isolation through domestic going opportunities the this this medical XX critical sorry. era. partnering term a a other minimal Recently, right our Prestige

e-commerce Third, end we focus and into to plan automated platform of payables our on stock provide our through supply paperless and technology our enable payment front invoice an e-invoicing all to to procurement, the expansion and aspects seamless technology strategy healthcare experience. chain and continue

engagement most success. important are that is And recognize employee drive our of employees most valuable the Our factors we assets. that our one

strong. show our period employee unprecedented engagement employee results remained by never recent this pandemic, critical. more been engagement this During has challenging that survey and on brought engagement And most

increases In meaningful major fact, across were year. drivers over past the all of engagement there

remote marks, In leadership addition, pandemic the received benchmarks fully high response work. of team to support the global for our teams outperforming our transitioning our and from to

Inclusion inclusion. working closely executive team. outperform workplace, benchmarks also Chief with in workforce enhancing class so employee further inclusion they relate health and Joe carry Premier’s our global our to a hired Diversity the our out We the to diversity, our diversity Machicote, to and Joe we commitment reinforcing practices recently are a to experience. is also who continue officer, committed and for improve and We and member of as enhance we to is belonging success. leadership position programs and the world our team I communities, am mission to Premier that evolve our can of

Looking ahead, there's Premier. for tremendous opportunity

Alongside more talented deliver to team, long our I'm solutions CEO, our employees to continuing result to advancing thrilled closely to our our our effective strategies absolutely members Premier As forward with I work meaningful lead And the Officer. and McKasson, incredibly look quality we're achieve continue in over community, the Craig I Administrative and incoming term and cost look making goals. our to our customers perspective turn financial to your to continuing to now the goals. forward healthcare. I call progress hear sharing achieving and to to you, as forward engage our the look Chief Financial will with that on

Craig McKasson

Mike an discussion close of term over the to on And XX working next her XXXX as an long our XXXX. to on the I my to executing I fiscal he and forward work of has results Premier, Susan by helm remainder our our congratulate for we partnered guidance, with delivering takes and retirement been a Premier. now second outlook and Thanks as Mike who providing details and years I'll for I'd strategy turn incredible a quarter value. have appointment of the brief focused mentor. shareholder her. to remain exceptional leader and financial on fiscal around and enjoyed at remarks CEO his brief Mike. I've to thoroughly moment like take closely look with with Susan continuing as

factors. net consolidated services Supply X% a $XXX.X ago. and to For the primarily year compared performance quarter revenue Chain from revenue XX% three administrative revenue, of revenue XX% supply year quarter. increased services, the prior million segment services due quarter on million compared XXXX, increased net chain increased year year, million $XXX.X prior $XX.X segment prior fees decreased of compared second with the In with of with

administrative we by the July revenue $XX the GPO were reduced compared effective quarter. and second fees quarter, net million prior X, as approximately agreements expected, XXXX year First, our extended with amended which in

administrative offset the year acquisition $X of of result an impact estimated of including from impact prior prepaid related quarter, a utilization, decline from members our overall million These related increased approximately incremental Nexera a up second to XXXX. as in as and decline as to new further GAAP certain members. partially were supplies existing $X well COVID-XX needed of the a our of year asset non-healthcare contract Second, prior impacts in revenue third, and resulting secure million fees decrease PPE volume the pandemic. efforts negatively from categories amortization a procedures, COVID-XX in elective to XXX% non-cash areas. of result on-going on-going result penetration Products And as related continues in and required the members of Acurity ramp demand to critically in addition million by member as in by a driven purchasing which the the other $XXX February pandemic, revenue the our spending high healthcare of for

on quarter, in products of services million, dividend the lower period GPO For supply $XX of million net for collections earnings the half a purchasing, pandemic. for the result of as liquidity the offset by a XX% share approximately the $XXX increased result decrease million, results cash it XXXX, approximately in was million as $XX.X fees of to with $XXX.X for material of to the six-month for of during pandemic And million. which contracted expected compared driven compared as revenue was negative XXXX result was of partially consolidated made as not primarily pandemic company's In net administrative from our June of agreements a factors prior generally from a cash $XXX.X associated factors of the fiscal million a flow per well $X from $XXX the services to growth, to decreased Premier’s the on design our in perspective, adjusted of prior segment while payments, new the chain million profitability, LP EBITDA the spend of PPE demand with our growth the XX% impact net the and increased $XXX.X million income the the ago. net period Performance was cash impact May acceleration due XXXX. COVID-XX consulting to our to From revenue while $XX.X XX respect by cash million, business, timing EBITDA adjusted overall performance quarter, segment, care to months expected The agreement the quarter-over-quarter, revenue XXXX, operations there well million, declared X, that was in May administrative January due the million plus enterprise the as quarter million expenses the Adjusted meeting same to XX% revenue by former was was as payable net license which GPO due an of and stockholders in part agreements a XX% decrease first on quarterly purchases and of and year a Similar of pandemic activities, as as fees XX% of December the and period impacted $XX.X including of quarter. was approximately revenue. by decreased related in recent first this to cash technology the Cash XX. decline $XXX driven as affected EBITDA to from during on impact year non-healthcare and decreased $XX.X with approximately same Free some me. year six On as and $X.XX administrative receivable sales. adjusted lower with the result a in performance With health from to the balance amended a health sheet increase quarter fees XX services million, quarter, of of per payments revenue as partners share was $XXX direct the Services operating incremental million provided fiscal The of as flow decreased of at the March an primarily positively second result sourcing March primarily primarily record of cost a to expenses $XX.X and prior at adjusted December related mainly efficiencies year. X, needs travel Premier pandemic, of was revenue that the as SG&A XX, third of million party restructure. income well acquisition for result equivalents compared address XX, impacted same agreements, was the XXXX COVID-XX ago, for primarily limited $X.XX. cash XXXX, excuse as decreased the $XXX.X Board totaled net by year tax as Directors ended

outstanding as five facility billion revolving Our $X million an balance XX. of December of $XXX had year credit

XXXX. financial for Now let's guidance our turn fiscal to

we introducing is the for of our earlier, remainder year. XX, remainder guidance, visibility year, As the on year performance our through year-to-date are December expectations which Susan current fiscal and this our this fiscal with based fiscal increased XXXX highlighted on full XXXX of

our acquisitions prior of consistent we may and to any does Our that the related certain effect guidance business, key it not incorporates assumptions significant years, incorporate with undertake. future

fees revenue the segment billion, of terms chain GPO $XXX following; net to $XXX currently expect we In of million revenue supply comprised to services billion metrics, $XXX to an of million million $X.XXX million. of to products $XXX Together, to billion of expected primarily revenue administrative $X.XXX Performance $XXX sourcing net of direct million. segment consolidated produced revenue these $XXX services $X.XXX million billion. and $X.XXX of revenue specific

and $X.XX. million $X.XX per range share of in EBITDA to adjusted adjusted expect $XXX earnings million in We range to the be of the $XXX to

is based also following Our on guidance the assumptions. fiscal XXXX

administrative healthcare elective We deferral reduction currently on-going will potential fees net third our the products expect on-going areas million in sequentially result of quarter and pressured $XX be by GPO increase from fiscal sourcing the the the the second COVID-XX that $XX continue non-healthcare to with below pandemic. overall related direct fourth as quarter and revenue purchasing continue procedures utilization, lower in to of a certain an to XXXX. by quarter anticipated We down second quarter an to expect of in revenue incremental XXXX performance fiscal million step

developed As we've communicated of of analytics during be previously, these agreements revenue may services there variability timing the Capital with and due year. to given license fiscal segment, associated periodic the in performance expenditures, the enterprise income engagements our million XX%. any in $XXX recognition consists profitability of and capitalized to is year, tax be expected will reflect an rate capital for purchase and approximately effective expect we the internally $XXX which primarily to net software, adjusted other million of

fiscal in rates the digits term adjusted over consolidated As growth turn and mid-to-high adjusted business, of the beginning single pandemic I'll Susan. unchanged, objective Thank earnings impact compound the target your you time we our and to in share. for EBITDA, call annual back the remains our to growth adjusted per net longer revenue, Mike XXXX on expect now indicated for COVID-XX today. for multi-year

Susan DeVore

the questions either may accordingly. to me appreciate up call you we'll are Craig questions. we different or everyone's Mike, them address open now the open your Operator, for We call participation for because today. locations, We’ll our And answer call Craig. all please questions. in and Thanks, in

Operator

Lisa [Operator JPMorgan Instructions] Gill question Your from Securities. first comes with

Lisa Gill

Susan, your your much. well good very off, And retirement. great I wish first Thanks let congratulations And you new you and me working It's Mike, on congratulate morning. with on been role. you.

great such looking put happening out all administration. clearly macro any the and around what's new current have have five with environment. just You administration always slide a you that political We your as to insights at

One pandemic a us really you talked telemedicine, more think So, things would you role will think to of your that I'd obviously, in either need great? Mike, play of has changed telemedicine is platforms can Premier telemedicine we Susan about telemedicine? you how incremental How about and just something you Do love give think but thoughts, future the to I'm acquire? know, do you of hear the or there's telemedicine? you be the about for that any around;

Susan DeVore

Yes, you, start Mike. so turn I'll and then to

extent systems will, as include think a systems. ambulatory offerings, telemedicine, perspective, of built But to we ER, health to of our the of don't connected good the health kinds the it think telemedicine systems keep from you that all We care have that you inpatient, know. for utilization, consumers I overall if see as to I have telemedicine healthcare methods system.

don't directly, that. systems, back pre-COVID overall and might their telemedicine Our really healthcare non-healthcare ourselves inpatient Mike, know don't add but just the utilization. is to ER having you getting utilization challenges in as into I it in what to almost levels, see still We affects the healthcare environment.

Mike Alkire

insights Yes, the telemedicine workflow, as the to a And our offer where about our those you concept decision workflow, offering, a the great support question. are into providing we standardized providing we and visits are leveraging clinical those if way Lisa, embedding data, all analytics and those of insights it's I say we would think those us for into as opportunity embed an ensure think of clinicians will care. to the that all

So continuing it decision clinical decision excited to of to as telemedicine. our relates we're about support the clinical evolution really

Lisa Gill

the or also we need have clinical COVID. paid. they saying that profile to relaxed of have I to patient that But XX think in we're as go seven clinical if another today, we Is about that back show think am spent XX minutes this? instead mean, of minutes that of and rules with a because that aspect Mike being patient, about, lot actual they been that able to minutes get with thinking the spent to way And eight correct reimbursement? a think doctor think I about I going to

Mike Alkire

I authorizing, way even too an out think think It's it. early sort of being reimbursement you in But and think I whole at more as about better. prior a little as do standpoint, services, we're can terms do That's to relates disease payments of interesting think that that of point embed what's additional if we out. a think building to Lisa, the I us the about authorization, play for From how to will care it that tell authorized.

I for another tool. opportunity again, support decision So, it's clinical think

Lisa Gill

Okay, great. Thanks so much.

Operator

with question next Canaccord Richard Close Genuity. from comes Your

Richard Close

Yes, okay? hear can you me

Susan DeVore

Yes. Hi, Richard.

Richard Close

estimate first my luck, X% a really little growth on the Craig, in performance in to or something? drill little in XQ? Susan, I quarter? Enjoy on our year-over-year lightening bit, Like Susan. growth news. good to and it Great. maybe services the your and anything retirement, lower down congratulations wanted And I there below a Was than from and call sales Mike. was the guess achieved out numbers what came XQ

Craig McKasson

Yes. question. Thanks, for Richard, the

were revenue. the which consistent second with QX quarters, XXXX overall, was with agreements. performance, So we in know, enterprise analytics of both terms performance license you have We of quarter pleased as very did in

to SaaS first year. than the also quarter advisory saw We business. because the in performance sciences our change support in was capabilities. continued comps, was growth services XXXX, lower quarter And our of growth in of fairly last and rate significantly really fiscal the decision growth our applied Part the clinical second have strong we in our year-over-year

first did overall. really the feel overall really trajectory quarter we continued of fiscal and So the have drivers consistent that same the in the of this about we growth saw Yes, of business performance. good year,

Richard Close

Mike. then, And question a up that's guess, follow helpful. Okay, I for

and the With managed each that to respect life managed you maybe for an each acceleration XX% the seeing lives of life bookings in Are of How the does growth metrics, growth periods? discuss I areas? the those lives and pipeline, for Contigo. on mid-teens, to in and sciences Contigo. and compare sciences provided So and, believe the you prior or

Mike Alkire

Sure. Thanks, Richard.

on So Contigo.

employers, to value to large the up ramping will low a is progress there, excellence really, I is our to to connect which we're network business members quality, centers providers, think healthcare help offering making continuing key of cost our that as unique obviously differentiated help out that care. to our and drive think value employers, we're programs, point expand create with building we're the high the we the of higher

building and value excellence up that around network. high all So of it's that centers

to we're as work And the we thing. focusing evidence is, only because I doing technology, values and so now doing capabilities. know, relates patient evolving we're also on our kind evidence, device from of these on we're, it excited what to of stuff, to on life data we're lab real real about now again, medical and that identification data To and pharmaceutical you went As but world sciences, providing our focused organizations. patients, not for this we're world and our think based and screens identify able really

about the life business forward. excited a So we're of sciences going prospects really really,

Richard Close

And the pipeline?

Mike Alkire

to Pipeline continue had yes, forward really for QX and obviously looking QX. looks to terms really, And sciences. driving life in a strong pipeline both. that sales looks quarter we're really, and We nice of to

Richard Close

again. you. Congratulations thank Okay,

Mike Alkire

Thank you.

Susan DeVore

Richard. Thank you,

Operator

from Valiquette comes Your next question with Steve Barclays.

Jonathan Yong

It's actually Jonathan Steve. Hi, thanks. Young on for

curious, in then, that just down was for, better of brought fiscal the and congrats admin we fourth than from little bit and XQ Mike more I'm a This the there happened stepped unique to the something quarter. just up remainder a on But retirement in third down First feed imply in there fees the to was nice relation Susan up that seems XQ Craig, in is leading the guidance, step and for the that to up of that bit is expect net that XQ. a came a the guidance on in role. year? clip CEO the admin

Craig McKasson

perspective, expect our we to step fees. in overall, from and Yes, in down don't GPO

is mindful and non-healthcare the to impact continuing particularly space impact be point. pandemic, we're what of this think the the I in us at the of for continued

we've think that services school procure hospitality things nature our this calls, universities of systems we to chains closed, and and but services portfolio. provide in about and that and, to and previous and all do catered through and position that GPO not contract continued on products virtual to talked a be colleges I to or

of as year. at GPO, look wouldn't the of and half down we the And to So elective then of on to continuing second the utilization, see things monitor fiscal business. in that's to overall potential don't we're on continue certain broadly weigh healthcare deferral going second obviously, procedures opening step impact up there. to as of pockets half we the the in the expect the back But year we

Jonathan Yong

kind of the the kind came kind or flexing XX% expect And the business to remain of you great. profile how the turning to drivers it you of about ahead Thanks. Did we Okay, elevated? Do that for think do should there? range about the think the to expecting, and still of that year, Or talked the business what towards mid in mid XX% that back of down? for performance the of margin is And about. you then this services. ahead of expect that you've were for How move we of up half zone? trajectory back

Craig McKasson

Sure, yes.

primarily improvement the two about mention EBITDA is technology to my mid-XXs, was did historically, wraparound those the And as of to So services of implementation in make we impact services, business. the year, that that that overall. actionable timing provide, the we've margin timing fiscal the first I think in higher continue of this for we've you out, to of we as importance due use can to a the quarters performance the analytics Obviously, prepared as do talked engagements that things pointed enterprise remarks, of sold. drive

based basis, the on likely not XX% would So we current wind will a necessarily in quarters. that and visibility, two mid-XXs, year first full at level we achieved in expect the on the up that

Jonathan Yong

Great, thanks.

Operator

Credit from question with Suisse. comes next The Jailendra Singh

Jermaine Brown

clearly? good me hear morning. Can you Hi,

Susan DeVore

you. hear can we Yes,

Jermaine Brown

Jermaine for actually Okay, in Singh. this is Brown Jailendra filling

guess the Susan, you is you, or first retirement on for Susan, This wish all or and I CEO on Mike, And Mike. Susan the I off, and you upcoming good question on this. Yankee and this Mike, partnership. Alliance making So congrats luck is position.

route elevated this hospital membership decision partnership to you Are it see to with opportunities that or other drove a more seeing do pursue what that was So demand, you relates particular situation? members? spend? as capturing unique some Or

Susan DeVore

why Mike, take you Yes, that? don't

Mike Alkire

Sure.

a is Yankee very unique So relationship.

of what group are call we they So affiliates. a

of So hospitals. and they affiliate systems a healthcare number

entities technology like for Our that. designed perfectly is

local, expand meet a them and needs as to regional, to portfolio, portfolios then to think our they're trying I national I say out And portfolio agreements. about mean their to. leveraging build should or if regional, when you of say sort So member I both their of local, allows spend, the customized conductive offering

an terms So after it for have, other get their potential that of spread to are those differentiated systems that actually create and entities Yankee attached in those have is to affiliates. hospitals it affiliates of help large affiliates, is is group for or those to that that helps like those answer opportunity organizations members Yankee yes, value offering this portfolios and healthcare affiliate more them a for help a create networks? The

Jermaine Brown

Got quickly to manufacturing. on it. invest domestic programs your then And JV in, in

we between think term, balance should or and ensuring the Over optimizing near how an costs? shore supply about the domestic long

Mike Alkire

it, third. at it, like Yes, look look so sort or at we at a of kind look third, third, I it of we a a

on see obviously the on automation lot dependent chain. the very at and manufacturing. we'd resiliency it's can much like very So of it's is occur category. supply what in point the very, And obviously dependent But how more a to

have we domestic the pandemic, And so capability the from one critical PPE. learned to enough because didn't obviously of the things we for

it in reducing looking Asia. sort we've how conversations having the finally, of focus And diversification where one, and country are well where Southeast Southeast capability. is to manufacturing. we've got capability. of building lends produce shore are our got Asia, dependence And it multiple And as We've look build that out we much capabilities to that resilient really of one at build in got itself way to also then more just out do have We're in to Southeast our that's creating countries more near on about obviously strategies. at automated near of the production, we more for are but so out evolve So then domestic sort to domestic we PPE, resiliency manufacturing especially now Asia, base highly we to looking think shore. in

Jermaine Brown

thank Congrats Perfect, again. you.

Mike Alkire

Thank you. Thank much. you very

Operator

Donald Your comes next from question Hooker KeyBanc. with

Donald Hooker

trying GPO line, new it's P&L, how GPO to XXX think extrapolating on I spend a you. concept. morning. about of specifically, million just I'm a members through revenue Yankee And capture, it's to Is from be wanted all sort the high trying good that follow in Susan your is the that broad broadly, that question to the I'm that appreciated as do services guess to purchase or on interested potential well. services manifests revenue. is line. investment that Alliance. going going to that I echo, sure I XXX whether you're on to We've community. think GPO up maybe DeVore margin Great, million the the services that congrats last I'm I'm

Mike Alkire

the you and walk to? Craig, through through in that about broader membership. how out like walk you can would address I then to think that me to or the want

Craig McKasson

Mike Okay, so, well, Craig. start Don, I'll is yes, and can this add any then color.

with membership and continue majority that So aggregate through the expand services entire develop the we've we portfolio. be as the that of organizations. Yankee of million about purchase to across XXX is talked spend of, The their the GPO would revenue

get after fees. would it that. so and the they're They're And to GPO actually using help technology the services be

So the primarily That would incremental there be would book be see of we are that service from would GPO is term, revenue relationship. fees it entire fees associated the spend. that. the But longer with their

a we've how billion to of of of or talked sort that. publicly component Yankee purchase bowl spend $XX having about membership similar That's our services. the So entire capture

we So term portfolio it's that customized a Mike grow to I longer think as that the expand approaches the objective through over time described.

Donald Hooker

you, that's be get because But but go is is over here is on that what with this Okay, from I quarter Craig, this will all you guess how helpful for kind swinging settle asked little then I quarter projecting I'll last the right there some to demands your like PPE out it the every changing. revenues. this perspective. gave products that's things is want place, What of Like And were over kind skis settle members, quarter, revenue guidance again, just revenue, ask kind vague. out lines out? of the of guess you does course, December said right below COVID? What a my it by the still You baseline when what June levels. we bit don't the quarter as the out post of level? the I

Craig McKasson

Yes, we're, to trying Don. really work as it's of still question, that we're some a well. And through good

a of these their and business now grow facing increase to have created running $XX million was business that high of double people been caught not cut year and their We've the would And if in so think the which had the single prior we or of had of fourth the pandemic. have that that I PPE you of B, digit that, quarter to that increasing not they're been quarter we pandemic, supplies, low then to seen, as use at pandemic, critical about continued sort and starting inventory think would level. last a in at have short the hand expected needs. part stockpiles on you've incremental A, revenues elevated the through above has the purchases beyond growth

year. so been they healthcare At it this of many need providers be. are point, believe all where And our happening stockpiles this we getting that's to their

as continue take would which vaccination etcetera, to visibility that see hold, see extent, the build back to upside we start continue starts a talked the And current through third quarter, the the third And us tell to so why come in our we'll incremental that lesser down. then will quarter. to about to is I've that

business in levels. for But talked innovative I think have to ultimately, the it a little saw of ongoing kind and down a unaffected to bit COVID growth. the environment, a tail to pre-COVID would But regular pandemic prior we normalized, expect, be course, I there's we'll continue it back ways I grow to to with of look been going of until of overall. about, at would the that at kind levels gets

Donald Hooker

level, as through be They're any revenue a And drop asked quarter. I margin we're change. the this seeing you're proceeds any, last not like the great. it of more That's But product margin. getting line I real margin perspective, that kind through normal to wouldn't on digits on more drop that without think mid-single quick, a as

Craig McKasson

correct. that's Okay,

Donald Hooker

Thank you.

Operator

Your next Kevin comes UBS. from question Caliendo with

Adam Noble

expectations? that schools, bit see there opening lines. of you reopening assuming little money, of engagement. I the like about possibility to your is in allocating faster think And institutions to little potential everyone And those on you could it, a Kevin. a Do some should is focus along stimulus Mike, else some comments maybe some than this in you, And work about Noble about This around, thanks And we yes, what open admin with Great, those kind that said entities how your into with administrations that working the How think binding most miss about want con the think for in of think year. continuing being And, then we as to other to cycle that net segment you, that the the FY we about Susan. lower is to non-healthcare we able fall? bit forward definitely for admin for are as I echo quarter? to some will question. and revenue the fee definitely fees schools has future. Adam GPO should for looking ask non-healthcare summer and

Craig McKasson

Yes, is sure, Craig. this

Mike that on site, are pre those things is and but returning activity universities the level in the to some our in So a any on campus, to the volume levels of students and our have we recovery slow, add expectations, are ended faster of and balance color. business Relative XX. that I'll non in not some the fiscal it start, schools was some and and through year There guidance, of not June factored healthcare re-openings, could with cases, even pandemic.

optimistic the in think to plan, fall, the we'll and that terms we immunity be be adoption. get the of mean, what I rollout vaccinations, we herd the see will get. least slower at a everything the So sort of you for press as in getting, that We're of will

sort recovering that our of bit, on we've, Well, of but healthcare comps we down represents impacted talked significantly terms this pretty that this about has non so of In we've over about forward, and fiscal XX%. about moving calls this a business think X% prior been as GPO, year.

we'll as in summer that, months. And to in XXXX. And we'll the ultimately, clearly, XXXX see that we plan hopefully guidance, about come provide so back more talk fiscal

Adam Noble

a that give M&A. wanted to lot space, you in that TAM just And if thought go kind seen kind have back of sciences you question or curious an helpful. business. the updated guys, been you're super against you dynamics who for you're shift in this moves been of making that And the if what's or there's any business? another have of for competitive can on That One your companies or, either was life for business? the question, the via what's organically I other And to just competing

Mike Alkire

follow are an about of what me we numbers. in make that that you then sort us amount market, and and take interested think of up in sort obviously both can you these, let our the future a of gives data And pharma differentiation as organizations question. But confidence. leveraging. Craig, incredible have on is med device this, One, broader

And systems evidence, together it's world so as studies areas. think data that and differentiates to just two, think around to through real do one, I Number those oftentimes in hospitals they've one. that's that, that number these been I that they want going their some require us pull healthcare research

patient read decision of healthcare ability things, evidence, we providers would for differentiation again, those, so, pull doing point And just, And to the connect, believe natural scores where kind as some be the be, lab unstructured specific sort and significant at language, through together trial. have and, world data areas pretty and then in real patients that. those think you in we care, trial. stuff, our have do they have physician interest markets those, will that, again, we or further, data, notes, the we'll would And specific as good clinical lab to those, continue kinds that as identify those reading of of ability values our to the or dots support an we about those evolve technology, capability suggest and we think, and of of those

that differentiated think Craig, you we capability. let answer the And the I'll question that's growth. of, So, sort about

Craig McKasson

us that life remarks. the the space unique don't But think And be and heard you continue mean, in to sciences a provide growth the I parts massive think overall growth expectation look be one services We're seeing there's mid-to-high Mike described. of in And his sector the moving sciences to in we with will life this getting that single higher for the good us described. to to digit to year. fiscal forward bookings term, articulate segment continue longer that growth Mike business in capabilities I I our performance is mid-teens for TAM, huge that opportunity as Yes. the grow the participant prepared for of enormous. We business, that. we our a the space the

Adam Noble

the Great, questions. thanks for

Craig McKasson

Thank you.

Operator

Blair. William question Daniels Ryan next from Our comes with

Unidentified Analyst

morning. Yes, echo And lot you. for congratulations asked this on is been update and a for This is And, here. good Susan the both and answered the the Susan, Jared questions I'll Mike to here. of in maybe have Ryan.

kind just of stick to I'm curious. I'll So But one.

in think of remarks, political more Susan, I prepared mentioned in in policy a environment. healthcare quo the it of terms of was seeing your you sort status or

health systems is stability your that extent of so? the that could Is next three feel potentially So you say, upside drive beneficial some or for targets longer the growth the I'm years five that key curious, and markets. to something to to term end that over

Susan DeVore

models, a that the value binding to incremental administration is be it'll stuff as through are regulatory care, tougher. able to just that fair We it environment amount of be about they'll relates the new optimistic environment, do legislative go will where we the based payment the and think do

chain making the the I and in Premier. resilient, to and they that supply be pandemic think And so the, the role plans from more played will think I recognize focus our future the perspective, on and we've area think they time, have a information. We whole actually to real the the that's Premier. whole, ability infrastructure, an I opportunity of has amount share technology information weakness and the highlighted also fair think the pandemic in for of integrate helpful

the So and more both services see value reactivated will we will business. business innovation the care based be We get performance the on of models. the there with side think of side chain opportunities experimentation center actually supply the and

optimizing putting process administration of relative payment advancement the recommendations And alternative the with and models. vaccine to our so, already forward, the interacting we're

we see as it good Premier. do for So as

Unidentified Analyst

And Yes, it. leave Got for congrats thanks color. it again. there. And I'll that

Susan DeVore

much. so you Thank

Operator

from with James. Your Ransom John next comes Raymond question

John Ransom

is statement, example, but Hey, the My buybacks, see good outlook would term EPS is, leverage there acquisitions morning. grow something. your growth XX% Congrats, between at question as And EBIT might to normally company what no look apparent tuck-in and EBIT EPS X% that for difference say, share growth. income if either or the everybody. longer I or a XX% we down

the guidance And no leverage So just no the contemplated and why of and so, clear, line? is to be is EBIT at capital between line that? EPS deployment all,

Craig McKasson

is the Craig, thanks this John, question. for Sure,

So are capital significant talked the longer for about include deployment. term targets organic do that we've primarily business not our

business we're first or the digit above on four really to performance we years so share growth the your focused five, incremental line, or incremental that And that opportunity if mid-to-high levels we were going would repurchase in EPS historical, public. is our six that of the M&A to to single benefits point, there to put organic either for had the returning drive have after

deployment flexibility have do speculative that. And capital future. that just don't lot just want we in be potential so a opportunity we the and of to what might to about But be

long obviously would over perform those be term. to hope in expectations the our so And

Mike Alkire

was And, in were the to and think I and didn't for, say fair election, just it's you probably capital deployment looking returns probably give you disappointed but services. some that, that of the particularly the performance prior to secondly, I mean,

that, filter mind, exciting stock your business of of times growth, you're in that that kind lens? XX of has back that how for lot at, you've allocations a capital sort buying of pay revenue an hypothetically, versus up multiple say to earnings, some with got you So through paying own that let's a do chance

Craig McKasson

continued. through will start continue to changes then capital add of consistent long any perspective. our term approach capabilities both or terms be some and I'll But in been, past have we feel with being good drive primary implications, to in deployed to etcetera, Susan we've at of point additional capital best we'll Sure, numbers have very time, shareholder focus that with assets over but place and intend, growth, that time. inorganic we the are the to we've you to that's balance then to that shareholder expect value. there in have been additional value share use deploy acquired have to and in obviously the that we the add Yes, and allocation the and that, And can that things as policy term, be then capital had Mike flexibility longer we'll about that and at point, time. still ultimately And this and dividend our would repurchase determined permanent when we organic do if opportunities we've to return, over strategic have

John Ransom

in you Is this this Is think should five network year or expectations sales is cartel, of there's fascinated X%? consultant You something Contigo. some that step could by performance lastly, of different costs? bypassing doing in trend just self-insured and to that take be that then you think employers, Susan very ever function last the with at picture there's And and completely all I theory Wherever we point cycle? and through into go that. and BPOs. certainly, them big trying the a of break all have to a me to a ask sad. into there do kind and happen? you try that talk And And would I'm the think is and of a one modest kind makes a healthcare frustration this what of it four something I'll for maybe cartel

Susan DeVore

they life for We're and I Mike add certainly and that sciences spots Yes, sweet and his here can company providers employers can both have have think those where sciences. share. in challenges perspective life our for looking Contigo perspective

big of of ton we've got cost a of employers, healthcare of data. business We're it's self-insured early So a got and significantly. this for we've and innings. growing delivery healthcare that provider concept network, But challenge

And penetrate as so want to penetrate much take to as going I actually market that to think that time market. it's we

pain concept think So And which of and whole we the automating payers life are a in sciences point early But employers, innings. is too. I authorization, innings prior early we're for finding actually about clinical with that talked this can identify trials where through through sweet technology, clinical spot network you have. patients Mike huge our and a we for providers, trials provider

double cases, want or to a what digit So They're growing we're in about think digit. some know, to we take to they're triple today, the businesses think get add that is years don't us that. that's to will few Mike, that size if anything we get some it. small how And to scalable it trying to. I you

Mike Alkire

you said. I Yes. everything agree Susan, with

this Contigo, chassis, So I centers high have we for building the the really of way described out the is out value building network. excellence been in

programs those to this value We chassis, high the want and market. out early will strong out, to on mean, quality their capabilities you employer will deliver very to network this, you we but build offer able that, services programs and then are, fantastic build we focus really as care. that the will we that of to high tell that. and providers create based of of layer really said, as ability you off And upon top on is whole I Susan I on, have as so you're then

in excited. pretty think you place. once really significant chassis have upside obviously, have we that we're you have once fabric So you And the

John Ransom

Thank you.

Mike Alkire

you. Thank

Operator

Long Market. Iris Capital Your comes next question with Berenberg from

Iris Long

Hi, good morning.

First role. on Susan, Mike, congrats retirement. on your new your of congrats all, And

like a first that increase mentioned does conductive on make what capability purchase billion on now? question of have talk services. the that need to the can bit, possibility is the little investment right XX customers to analytics if technology security XX to terms volume? that front? And for you purchase happen capture business, needs just you and purchases Do the you investment see billion from GPO to you the to in more what wondering capture I'm I Just my you think from about

Mike Alkire

pass first a that. take I'll at Susan,

purchase of conductive, a right obviously and building or of build services. contracts out to is purchased function to helped purchasing really So get capabilities initially of out those us kinds out, building we are services, want analytics out behind there, group And that then we things.

think really services I will if technology e-invoicing purchased the it of invoicing. as all our will looks and at our that to about be focus part build strategy that that to invoices, you e-invoicing, be is and think it's, e-payables, out relates

down believe once we so services that really all that that, a and value to we that to providing healthcare contracts, them of access, well that drive to And local them level, again, that both combination terms as there going have systems and and conductive regional we the a manage access those in And both with, at as capability. cost creating they're benchmarks to can help of how help visibility our spend. e-invoicing buying, of have We're spend.

Craig McKasson

you to get leveraging that a articulate purchase cases, many building arena, agreements, and there combination purchase that to regional and Because the things Craig. that we're in Yes, that then after, are and out thing add Mike, Iris our of customized the not agreements. only a The is case GPO I in would it's in that through heard local services, agreements, are nationally. type, this of that it's done some like is services necessarily national

doing will put there efforts be out regions and then identify engagement to to build get contracts portfolio And to with we're northeast so in access to opportunities those spend aggregate it that the to the like Yankee work geographic variable and we place. that in in do as

addressable services for we the of XX that objective as the much market that's term membership can. And a spend. to long billion across So our capture is total as purchase

Iris Long

do Okay, And what have many of customers can time? programs? on high is if year? your in then percentage of how If I'm has compliance you high that many great. add are changed trying or can each customers up. typically each give customers over Just to about That terms I your a how or of we update program, quarter enrolled kind that, how And in an talk follow us helpful. understand the compliance wondering you

Craig McKasson

give of sort you let the just framework. general Yes, me

growing pandemic. more more wasn't has program somewhere spend So north which, growing PPE the committed things, those buy and program right, just $XX additional have about, to help at obviously, to to billion program, and instead, though had in coalescing, up doing spend. our shift it then basically happened, and of pandemic, that of all been ASCEND given SURPASS had levels through a bringing X the ASCEND the of building out membership your the been program group and the that through bit we've the out the those inventory shifting the and and their creating pandemic kinds buying committed programs, those in the, to them, stock the their getting SURPASS access and more it build programs, your, effect, that to little But program piles And two we through billion been things. of even has kinds is obviously, products, and of around have has buys

switched been stockpile. while we've helping switched this the bit little different all So little just is access inventory sides kinds really levels forward to a getting of a programs, just been and of and systems bit about, our because doing they've to of PPE, higher pandemic We've which growing. drive committed these healthcare

Iris Long

guys. Got Thank it. you, That's helpful.

Craig McKasson

Thank you.

Operator

Sandler. with comes question Piper from Sean next Weiland, Your

Unidentified Analyst

you on and senate to were think that just a taking Health. Jeff my congratulations thank And cost nascent retirement some about Contigo clinical for I Hi, been our maybe or able more Can lines, of and questions early on It's bit just you role. the recruitment you of trial for deliver deployments to surrounding or talk and Mike operational on would clinical I new early deliver that improvements And some to or in service the plan there? everyone's the echo to like little question. guys Sean. the Susan, have

Mike Alkire

Susan. at just Yes, go Thanks, and I'll here. just sort I'll level Yes. in of back, general, a keep it higher

those possible. about the of appropriate kinds earlier want I that, those as really us, we're pharma, clinical on moving. and world right for really those that and we're the as actually, as of drug And with important, is working focused kinds to evidence. utilization. with engagement want are therapies as real they're And the make getting much they said And to things utilization launching products, really, sure and because approval, having systems, post healthcare of sure make ensure still are things. think, conversations benefit they And really, therapies to, I populations we that, patient new our the

at We looking into there's identify continue to patient natural us going And, you're for to the that, for think machine capability, as leverage language huge a see opportunity that identification. these those patients evolve trials. think to I learning. So, again, and that unstructured notes earlier, to technology, said I

comments in. continue So evolve, that like and again, learning made this And we're prior AI, how authorization. And of out Susan that to want we're machine really some interested then, we about building as some Contigo. to modernized technology,

quality say, with employers are technology our So to benefit. if are care. it you've directly most there amount to at the to be that capabilities for you platform the the authorization as care, out think ML care we protocols prior the or is at about employers looking Contigo of point these think relates providers, these are driving AI opportunity to authorization and be care to of outcome going got more to that attach are able Contigo, progressions, going and Again, are us with to working of and point build that differentiate those large the

And so, technology add. Susan, forward of anything we're that to embedding offering. looking some Contigo to have into that hope really else you I

Susan DeVore

Nope, you got it.

Unidentified Analyst

ramp of the and contract? expected the then nascent can just follow again, share service extent one up what's the to you of the ask or I that model If lines those, more revenue could just duration for some maybe

Mike Alkire

again, give networks. mean, through, But you how jump Yes. a start, Contigo thinking we terms of will technology, services fees please as and, be of members so others, I'll Contigo a network Craig, and that they're in they needed, have become Craig, here. helping I can in that, there's those in part participate

you, with plus capability, been think the about, we is party that doing Contigo, what third obviously, administration. design bought help you which, we've If

that don't So part fees have revenue have you I in know that you Craig, are as the TPA well from that, if thoughts. additional the of model?

Craig McKasson

Yes, Mike. thanks, no

the those the ramp. in terms of So are models

service as getting And faster benefits of described engagements But his the of sciences, the with performance our Health that over tend in prepared term but of say, yes, It’s services the data talked of traction, talked tends growth Mike ramp use engagements, relative our the of kind being think part a technology, a terms of services, term that a earlier a to aspects then longer employee type sort have like annual, in more to business. remarks, longer support I in business anticipation and model annuity driver. clinical services, the then one Contigo I'll members be ability We part advisory time. PMPM about around and of TPA business decision of combination combination up to it's to standardization of over life it type, And growing then time. to over of we've time. about being drive be and

Unidentified Analyst

Thanks again.

Mike Alkire

you. Thank

Operator

SVB Your Davis Leerink. next question comes from with Stephanie

Stephanie Davis

congrats Susan, big on Hey, shoes everyone fill. retirement, on a well-deserved congratulations echoing And to the else. Mike,

Mike Alkire

Absolutely.

Susan DeVore

you. Thank

Stephanie Davis

about mentioned you Mike, pretty some clinical tools. questions buzzwords big trial prior the and enablement

augment of So leaner, think more kind into versed MLP I about as the on talent. much skills? sense How folks talent these to thought need for pool your workforce workforce? to we how this of versus in you And arena make the it folks touch available should in existing expand we well might question your

Mike Alkire

it's great So question. a

couple So thoughts. of a

the, and were language nice, machine great you able some as learning, all, acquire stance AI-natural of arena. know we the acquisition, to talent in related to the really technology in First

build continuing And that as to by to which attract is, the of I that channels to get kind access to mission capability. organization into that go that growing. lot out has then the the we're of won't obviously, of been So Anderson to an of kind kernel right a became talent Leigh and transform but right got think vision has we've we healthcare. capability detail, that sort

of that, helping you if and right about kind schools trials, real we're really that in we're So in got that attract patient will And we've think as what that patient evidence we talent population, terms and world kind think various of, the doing speak. the out we identifying mission obviously, of talent. recruiting

Stephanie Davis

With feel that order tackling? not that your out count build beyond to in mind, it you need a just blocking question anything is of is to you augment solutions? Or in further and there

Mike Alkire

sort you of Could rest comments. off restate didn't you the of the I that hear because last enough? trailed And part just

Stephanie Davis

XXXX XXXX. is No no of the this worries, worries, theme and

it Or you Your well that have there be the out tools. night? you still Is relatively else or up given then you anything some town clinical kind is No, pool done set was of connectivity trials blocking up and feel like at going your tackling? to keeps say just to issues? to build I I needs what

Mike Alkire

two, we're saying we I right. we think constantly continue of, base. That's will. about going think talent characterize Yes, that first, about is it I one. this sort ever to I that number And would, look as think Number don't enough towel. I'd it, have I as grow execution, of to to

value talent case that sense the the building most in taking that it’s use depending So the use most the and out drive that the what like. of cases amount on looks makes

just or of kind Leigh to thinking different about an differently about focus that Premier So, four, we're constantly allow use folks give opportunity to it those working how in capability and one. on are work as in cases I a bit additional to couple, in areas, little to to within thinking to organize opposed three a

we're mission again, And prospects. excited going to it we're that on. got think and an kind about focus attract that So, our of area right, to the values to continue is And we again, that really we've talent.

Stephanie Davis

you. helpful. And Super Thank congrats again.

Mike Alkire

you. Thank

Operator

Truist. from Draper comes Sandy question next Your with

Sandy Draper

question. much. another very pretty smart cannot think interesting, sure, Thanks of I'm I

with and did will say So working to you. I'm working congratulations, be I with and it just but is going want to, congrats you. been it's on Mike stay And great also fun

it So Thanks, me. that that's guys. for

Mike Alkire

you. Thank

Susan DeVore

Sandy. Thank you,

Operator

back no to showing like the conference at further questions time. Susan turn would DeVore. I I’m this to

Susan DeVore

is know thank just all Mike the wish morning. passionate opportunity here, very to and had time the to and I in extremely having I'm Board capable I hands. And all about am know And that of and you success. like Company is success. that just believe just when I'd health Premier’s the operator. this to joining for you, all I best I again call for you you of reflect my the grateful get as Premier on of Thank our I as

support plan in thanks much. so we'll call quarter. Thanks bye. for so the again Bye and you for So your talk years. With end to that, to many another much

Operator

Ladies and conference call. Thank you gentlemen, participating. today's this concludes for

disconnect. now may You