Premier Inc. (NASDAQ: PINC), a leading technology-driven healthcare improvement company, today released its inaugural sustainability report detailing companywide initiatives focused on environmental, social and governance (ESG) practices. Simultaneously, the company also introduced a new corporate web page dedicated to sustainability efforts across the organization. Combined, these new resources highlight the initiatives undertaken by Premier aimed at improving healthcare, building trust, operating responsibly and having a positive impact on communities.
"Premier has always had a values-based, award-winning culture built on ethical behaviors and responsible business practices," said Michael J. Alkire, President and CEO of Premier. "We believe our members, customers, stockholders and other partners deserve transparency on our business practices and progress toward fulfilling our mission to improve the health of communities. Demonstrating our commitment to sustainability, Premier recently created a formal and more intentional approach to ESG practices, elevating oversight to our Board of Directors, with dedicated responsibilities delegated to the Board's Nominating and Governance Committee. Our 2021 sustainability report outlines where we are today on this journey."
Premier's sustainability report is aligned with guidelines set forth by the Sustainability Accounting Standards Board (SASB) and reflects alignment of the company's business strategies and key priorities with the United Nations Sustainable Development Goals (SDGs).
Highlights from Premier's inaugural sustainability report include:
Governance, Ethics and Responsible Business Practices: Premier has a robust corporate governance and oversight structure to help ensure ethical behavior and responsible business practices across the company. Governed by the company's Board of Directors, oversight is in place to ensure sound business continuity plans are implemented to successfully manage a range of potential risks, including succession planning, cybersecurity, ethics and legal compliance, intellectual property protections and more.
Our People and Culture: Premier continues to enhance a diverse and inclusive culture of high-performing individuals, leaders and teams with a growth mindset aimed at transforming healthcare. To promote long-term success, Premier hired a Chief Diversity and Inclusion Officer (CDIO), reporting to the CEO, who oversees and builds upon our existing Diversity, Equity, Inclusion and Belonging program. The company's culture of excellence is reflected in increased employee engagement, retention and overall sense of belonging.
Social Responsibility: Premier aims to help transform and improve the way care is delivered to patients nationwide through member collaborations and co-development of long-term healthcare innovations. Premier provides integrated data and analytics, collaboratives, supply chain solutions and consulting services to enable members to deliver better care and outcomes at a lower cost and in a socially responsible manner.
Supply Chain Management: Premier continually looks for ways to ensure supply chain resiliency and sustainability. In 2020, Premier pioneered a syndicated model to co-invest with members in domestic manufacturing to help expand production capacities, modernize manufacturing and spur innovation. Throughout the pandemic, Premier leveraged the PINC AItm technology backbone of 20 years' worth of cost, quality and operations data points to identify and mitigate shortages, ensuring healthcare providers continue to have access to personal protective equipment (PPE), medical supplies and pharmaceuticals necessary to provide patient care.
Environmental Management: As part of Premier's efforts to improve the health of the nation's communities, the company integrates environmentally friendly practices throughout its operations by reducing paper consumption, recycling 8-10 tons of electronics annually, and relying on energy efficient bulbs and natural light in office buildings. In addition to Premier's own recycling and energy efficiency efforts, the company evaluates environmental impact data from suppliers, including the existence of chemicals of concern, recyclables and provides transparency to enable members to make the most ethical choices for their communities.
Premier intends to share its progress on ESG initiatives annually. To read Premier's inaugural corporate sustainability report, please visit the web page.
Matters discussed in this release that are not statements of historical or current facts, 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 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.
About Premier Inc.
Premier Inc. (NASDAQ: PINC) is a leading healthcare improvement company, uniting an alliance of more than 4,400 U.S. hospitals and health systems and approximately 225,000 other providers and organizations to transform healthcare. With integrated data and analytics, collaboratives, supply chain solutions, and 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.
These press releases may also interest you