Walnut Creek, CA (January, 26 2024) — Conductiv, a leading third-party spend optimization solutions provider and consolidated subsidiary of Premier, Inc. (NASDAQ: PINC), today introduced Contract Explorer, an artificial intelligence (AI) powered contract tool designed to streamline healthcare supply chain contract management and make agreements easier to understand and simpler to navigate.

Organizations can upload 25 contracts to Contract Explorer at no cost. Once supply chain leaders upload contracts to the tool, this technology automatically captures and summarizes vital information such as contract terms, legal specifics, end dates, services and renewal terms. This data undergoes rigorous review by Conductiv's labeling team, individuals who have extensive sourcing expertise.

Additionally, AI tools scan the contracts to extract detailed summaries and statements of work (SOWs), saving time normally spent reading lengthy contracts. With this new tool, healthcare supply chain directors can collaborate with Conductiv to swiftly access actionable insights. This efficient process allows for quick contract reviews, comparison of service providers and informed decision making for both new contracts and renewals.

“Contract Explorer allows healthcare organizations to conduct a free text search of all contracts, similar to a Google search, providing visibility into key contract terms and summarized SOW details,” said Mickey Meehan, Group Vice President and General Manager, Conductiv. “If they need to find specific terms, clauses or words across all their contractual agreements, they can now easily do that. This process should enable healthcare organizations to understand the contract scope more quickly, figure out the action they need to take and then go and do it.”

About Conductiv

Conductiv® empowers supply chains to optimize their third-party services. As the only end-to-end third-party lifecycle improvement company, Conductiv® shares its strategic sourcing expertise and category best practices with multiple industries including healthcare, hospitality, government, real estate, transportation and education. The company has led more than 700 bids for more than 120 organizations, exceeding $4 billion in contracted value. Member projects have generated $800 million of documented savings or an average savings value of 24% to date. To learn how supply chains are transforming their savings strategy, visit Conductiv.com.

About Premier, Inc.

Premier, Inc. (NASDAQ: PINC) is a leading healthcare improvement company, uniting an alliance of more than 4,350 U.S. hospitals and health systems and approximately 300,000 other providers to transform healthcare. With integrated data and analytics, collaboratives, supply chain solutions, consulting 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 that 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 and Premier’s blog for more information about the company.

Cautionary Note Regarding Forward-Looking Statements
Statements made in this release that are not statements of historical or current facts, including but not limited to those related to Premier’s ability to advance its long-term strategies and develop innovations for and transform healthcare, and the intended or expected performance or utility of Premier’s products and services, 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 performance or achievements to be materially different from historical results or from any future performance or achievements expressed or implied by such forward-looking statements. Accordingly, readers should not place undue reliance on any forward-looking statements. More information on risk factors relating to Premier and its products and services 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 Premier’s periodic filings with the SEC, which are also made available on Premier’s website at investors.premierinc.com. Forward-looking statements speak only as of the date they are made, and Premier 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.

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