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Premier Inc. Announces $200 Million Share Repurchase ProgramPremier Inc. (NASDAQ: PINC) today announced that its Board of Directors has authorized a share repurchase program, under which the company may repurchase up to $200 million of its outstanding Class A common stock through the remainder of fiscal 2018. "Given our continued strong balance sheet and cash flow, we plan to put this program in place to return value to all of our stockholders," said Craig McKasson, chief financial officer, Premier. "Our financial strength enables us to launch this broad-based share repurchase program while preserving our capital allocation priorities of investing in long-term growth strategies and maintaining balance-sheet flexibility. Premier's Board of Directors and management team believe that recent trading levels for the company's stock present an attractive investment opportunity. While our long-term focus remains on strategic growth, repurchasing stock is also an important part of deploying financial resources toward long-term, value-enhancing opportunities for our stockholders." Premier expects to execute the necessary agreements and documentation to initiate the contemplated repurchase program during the next open trading window under the company's insider trading policy, scheduled to occur shortly after fiscal 2018 first-quarter financial results are reported on Nov. 6, 2017. However, there can be no assurance when or whether the repurchase program will be initiated or regarding the number of shares of Class A common stock that will be purchased under the program. On Oct. 31, 2017, approximately 3.7 million Class B common units were exchanged by member-owners for an equal number of shares of Class A common stock. Due to member-owner retractions, this amount is reduced from the previously announced indication for exchange of 3.9 million Class B common units. As of Oct. 31, 2017, Premier has approximately 57.2 million shares of Class A common stock outstanding. About Premier Inc. Premier Inc. (NASDAQ: PINC) is a leading healthcare improvement company, uniting an alliance of approximately 3,900 U.S. hospitals and health systems and approximately 150,000 other providers and organizations to transform healthcare. With integrated data and analytics, collaboratives, supply chain solutions, and advisory and other services, Premier enables better care and outcomes at a lower cost. Premier plays a critical role in the rapidly evolving healthcare industry, collaborating with members to co-develop long-term innovations hat reinvent and improve the way care is delivered to patients nationwide. Headquartered in Charlotte, N.C., Premier is passionate about transforming American healthcare. Please visit Premier's news and investor sites on www.premierinc.com; as well as Twitter, Facebook, LinkedIn, YouTube, Instagram, Foursquare and Premier's blog for more information about the company. Forward-Looking Statements Statements made in this release that are not statements of historical or current facts, such as those related to Premier's plans with respect to the repurchase program, including the possibility that the repurchase program is not adopted, the expected size of the repurchase program, or the possible suspension of or discontinuance of the repurchase program once adopted, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Premier to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. Accordingly, readers should not place undue reliance on any forward looking statements. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements in the conditional or future tenses or that include terms such as "believes," "belief," "expects," "estimates," "intends," "anticipates" or "plans" to be uncertain and forward-looking. Forward-looking statements may include comments as to Premier's beliefs and expectations as to future events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside Premier's control. More information on potential factors that could affect Premier's financial results is included from time to time in the "Forward Looking Statements," "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of Premier's periodic and current filings with the SEC (News - Alert) and available on Premier's website at investors.premierinc.com. Forward looking statements speak only as of the date they are made. Premier undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise that occur after that date. View source version on businesswire.com: http://www.businesswire.com/news/home/20171031005193/en/ |
