Premier, Inc.

Good morning and welcome to Premier's fiscal 2025 second quarter conference call. All participants will be in listen-only mode. After today's presentation, there will be an opportunity to ask questions. Should you need assistance, please signal a conference specialist by pressing star then zero on your telephone keypad. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To withdraw your question, please press star then two. Please note this event is being recorded. I would now like to turn the conference over to Ben Krasinski, Senior Director, Investor Relations. Please go ahead.

Thank you, and welcome to Premier's fiscal 2025 second quarter conference call. Our speakers this morning are Mike Alkire, Premier's President and CEO, and Glenn Coleman, our Chief Administrative and Financial Officer. Before we get started, I want to remind everyone that our earnings release and the supplemental presentation accompanying this call are available in the Investors section of our website at investors.premierinc.com. Please be advised that management's remarks today contain certain forward-looking statements, such as statements regarding our strategies, plans, prospects, expectations, and future performance, and actual results could differ materially from those discussed today. These forward-looking statements speak as of today, and we undertake no obligation to update them. Factors that might affect future results are discussed in our filings with the SEC, including our most recent Form 10-K and our Form 10-Q for the quarter, which we expect to file soon. We encourage you to review the detailed forward-looking statement and risk factor disclosures in these reports. Also, during this presentation, we will refer to adjusted and other non-GAAP financial measures, including free cash flow, to evaluate our business. Information on why we use these measures, in addition to GAAP financial measures and reconciliations of these measures to our GAAP financial measures, are included in our earnings release and in the appendix of the supplemental presentation accompanying this call. Information on our non-GAAP financial measures will also be included in our form 10Q for the quarter and our earnings form 8K, both of which we expect to file soon. Now, turning the call over to Mike Altire.

Thanks, Ben. Good morning, and thank you for joining us for our fiscal 2025 second quarter earnings call. This morning, I'll spend a few minutes giving you an update on our business strategy and performance, then pass it over to Glenn for a more detailed review of our financials. As a preview, overall revenue and profitability for the first half of fiscal 2025 were in line with our expectations resulting from better than expected results in our supply chain services segment. As a result, we are reaffirming total net revenue guidance and increasing our adjusted earnings per share guidance, despite not achieving our objectives in the performance services segment. Overall, the team continues to execute and deliver on our long-term vision of technology enabling performance improvement and supply chain excellence for healthcare. In the second quarter, we continue to make the progress advancing our strategies and remain committed to our goal of enabling better, smarter, and faster healthcare. In the supply chain services segment, we are excited to announce the successful transition of our digital supply chain strategy beyond the pilot phase, marked by the signing of our first agreement with a major partner. This partner is one of many in our pipeline that will leverage our unique clinical and supply chain data sets for innovation across research, development, clinical utilization, and supply chain resiliency. As we have shared previously, the digitization of invoicing and payables for healthcare providers is a critical step towards creating a more transparent and efficient healthcare supply chain. Our strategy encompasses the following key areas. First, we are AI enabling manual back office processes for providers and suppliers, delivering significant time improvement and cost savings. Second, we are enhancing our data to deliver a comprehensive view of total non-labor healthcare spend to further enable actionable performance improvement insights for providers. Third, we are leveraging our extensive data set to embed evidence-based decision-making into workflows. ensuring the right product is available for the right patient at the right time. And finally, by enhancing supply chain transparency, we are helping the industry anticipate and address potential shortages before they impact patient care. On the topic of shortages, we are encouraged by the growing demand for Premier's provider-focused data, market intelligence and expertise in objectively navigating the 503 program. which is a key differentiator for us in the market. As background, suppliers typically rely on the FDA drug shortage list to target which drugs to manufacture, but often lack the actionable insights to act quickly. However, they can leverage our market leading capabilities to shorten the time it takes to bring new supply to market, providing much needed relief to healthcare providers experiencing shortages. In the performance services segment, We remain confident in our long-term strategy to deliver technology-enabled services that enhance care delivery and optimize total cost of care for providers, payers, and suppliers. We are thrilled to welcome David Zito as our new President of Performance Services. Dave brings an impressive 40 years of healthcare consulting expertise with deep experience and financial turnaround and revenue diversification strategies for providers. His leadership and insights will be invaluable as we continue to innovate and grow. We also continue to strongly believe in the transformative potential of automation and AI-enabled guidance to streamline workflows and enhance satisfaction for providers. This will ultimately lead to better care for patients. In addition, our pipeline of providers eager to modernize through digitization remains robust. Both Glenn and Dave joined me at the JPMorgan Healthcare Conference last month, where we participated in over two dozen meetings with investors, customers, and key prospects. Their feedback was overwhelmingly positive, reinforcing Premier's ability to harness our healthcare data, to drive provider performance improvements and deliver real world evidence that drives appropriate utilization of the most efficacious products at the right price for the right patients. I remain confident in our team's ability to deliver strong results and navigate the dynamic healthcare landscape effectively. With our strategic direction and talented leadership team, we are well positioned for continued success. With that, I'll now turn the call over to Glenn.