Premier, Inc. (NASDAQ:PINC) Files An 8-K Costs Associated with Exit or Disposal ActivitiesItem 2.05
As part of the Company’s ongoing integration synergies and efforts to realign resources for future growth areas, management is implementing certain personnel adjustments, including a workforce reduction. On February5, 2018, the Company communicated to its employees that these personnel adjustments impact approximately 75 positions (approximately 65 of which are related to the Company’s workforce reduction), or approximately 3% of total employees. The Company finalized and committed to this course of action on February2, 2018. The workforce reduction is expected to result in pre-tax cash restructuring charges, primarily relating to severance and transition assistance, of approximately $5.2million. Charges related to the workforce reduction, which is expected to be substantially completed in February 2018, will be expensed in the current quarter ending March31, 2018. The majority of employees impacted by these personnel adjustments are from the Company’s Performance Services segment.
Statements made herein that are not statements of historical or current facts, including, but not limited to, those related the amount of expected restructuring charges, the size and timing of the implementation of the workforce reduction, and the success of these or any additional cost management measures, 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 the Company 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 the Company’s beliefs and expectations as to future financial performance, events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside the Company’s control.More information on potential factors that could affect the Company’s financial results is included from time to time in the “Cautionary Note Regarding Forward-Looking Statements,” “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s periodic and current filings with the SEC and made available on the Company’s website at investors.premierinc.com.Forward looking statements speak only as of the date they are made, and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or future events that occur after that date, or otherwise.
About Premier, Inc. (NASDAQ:PINC)
Premier, Inc. is a healthcare improvement company. The Company is uniting an alliance of approximately 3,750 United States hospitals and more than 130,000 other provider organizations to transform healthcare. The Company operates healthcare group purchasing organizations and also provides integrated data and analytics, supply chain solutions, advisory services, performance improvement collaborative and other services. The Company plays a role in the healthcare industry, collaborating with members to co-develop long-term innovations that reinvent and improve the way care is delivered to patients nationwide.