Michael Alkire, COO of Premier Inc (PINC), says the company’s fourth quarter was a very good finish to its fiscal year 2015. Premier’s revenue was up 16%, adjusted EBITDA was up 12%, and earnings per share was up 10%.
“We ended the year with 3,600 hospitals and 120,000 other suppliers. That is up about 600 hospitals and up about 10,000 other providers from a year ago,” Alkire says. “We retained about 99% of our group purchasing business and 94% of our SaaS institutional renewal rates in our performance businesses…We exceeded $1 billion in revenue for the first time, and we generated an adjusted EBITDA margin of 39%.”
Alkire says Premier’s management has been growing and redefining its existing business and introducing new offerings across both of its segments.
“In performance services, we are expanding and enhancing our PremierConnect platform, introducing PremierConnect Supply Chain as a total all-in procurement solution,” Alkire says. “We implemented and launched the industry’s first quality cycle management system…and we introduced CommunityFocus.”
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