Premier (PINC) 10-Q/A 22 Aug 17 2017 Q3 Quarterly report (amended) Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Mar. 31, 2017	May 05, 2017
Document and Entity Information
Entity Registrant Name	Premier, Inc.
Entity Central Index Key	1,577,916
Current Fiscal Year End Date	--06-30
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q/A
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Amendment Flag	true
Amendment Description	This Amendment No. 1 on Form 10-Q/A ("Amendment No. 1") is being filed in order to reflect the adjustments set forth below to adjust Premier, Inc.'s ("Premier" or the "Company") income tax accounting for the December 2, 2016 acquisition of the remaining 50% ownership interest of Innovatix, LLC not previously owned by the Company. This Amendment No. 1 amends and restates in their entirety the following items of the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2017, originally filed with the Securities and Exchange Commission ("SEC") on May 10, 2017 (the "Original Form 10-Q"): Part I. Financial Information: Item 1. Financial Statements; Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations; and Item 4. Controls and Procedures. Part II. Other Information - Item 6. Exhibits. The Company has also updated the signature page, the certifications of its Chief Executive Officer and Chief Financial Officer in Exhibits 31.1, 31.2, 32.1 and 32.2, and the financial statements formatted in Extensible Business Reporting Language (XBRL) in Exhibits 101. No other sections were changed, but for the convenience of the reader, this Amendment No. 1 restates in its entirety, as amended, the Company's Original Form 10-Q. This Amendment No. 1 is presented as of the filing date of the Original Form 10-Q and does not modify or update disclosures in any way other than as required to reflect the restatement described below. Readers should refer to the documents the Company has filed with or furnished to the SEC subsequent to the date of the Company's Original Form 10-Q for updated information. Prior to December 2, 2016, the Company, through its consolidated subsidiary, Premier Supply Chain Improvement, Inc., held a 50% ownership interest in Innovatix, LLC, which was accounted for under the equity method and classified as a partnership for tax purposes. On December 2, 2016, the Company acquired the remaining 50% ownership interest of Innovatix, LLC. In connection with the acquisition, the Company’s historical 50% investment was remeasured under business combination accounting rules to fair value, resulting in a one-time gain of $204.8 million. At the time of the acquisition, a deferred tax liability of $95.8 million and a corresponding net deferred income tax expense of $95.8 million associated with the one-time gain were recorded by the Company. The Company has determined that a portion of the deferred tax liability and a portion of the deferred tax expense associated with the $204.8 million gain should not have been recorded. Accordingly, the Company determined it necessary to adjust the Original Form 10-Q to remove the incorrectly recorded deferred tax liability and instead record deferred tax liabilities associated with the book and tax bases differences of the individual assets acquired and liabilities assumed. Based on the Company’s determination, the net effect of this adjustment increased goodwill by $42.9 million, decreased deferred tax liabilities by $34.3 million, decreased deferred tax assets by $10.5 million and increased income tax expense by $0.8 million and decreased income tax expense by $66.7 million as of and for the three and nine months ended March 31, 2017, respectively. Correspondingly, net income has been adjusted lower by $0.8 million and has been adjusted higher by $66.7 million for the three and nine months ended March 31, 2017, respectively.
Class A Common Stock
Document and Entity Information
Entity Common Stock, Shares Outstanding		51,755,880
Class B Common Stock
Document and Entity Information
Entity Common Stock, Shares Outstanding		87,298,888

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2017	Jun. 30, 2016
Assets
Cash and cash equivalents	$ 236,218	$ 248,817
Marketable securities	0	17,759
Accounts receivable (net of $2,908 and $1,981 allowance for doubtful accounts, respectively)	162,178	144,424
Inventory	48,770	29,121
Prepaid expenses and other current assets	41,702	19,646
Due from related parties	5,388	3,123
Total current assets	494,256	462,890
Marketable securities	0	30,130
Property and equipment (net of $303,052 and $265,751 accumulated depreciation, respectively)	182,093	174,080
Intangible assets (net of $85,498 and $50,870 accumulated amortization, respectively)	393,075	158,217
Goodwill	908,349	537,962
Deferred income tax assets	468,760	422,849
Deferred compensation plan assets	39,875	39,965
Investments in unconsolidated affiliates	98,878	16,800
Other assets	13,398	12,490
Total assets	2,598,684	1,855,383
Liabilities, redeemable limited partners' capital and stockholders' deficit
Accounts payable	30,974	46,003
Accrued expenses	78,988	56,774
Revenue share obligations	70,396	63,603
Limited partners' distribution payable	23,071	22,493
Accrued compensation and benefits	51,701	60,425
Deferred revenue	49,723	54,498
Current portion of tax receivable agreements	14,009	13,912
Current portion of long-term debt	376,710	5,484
Other liabilities	30,335	2,871
Total current liabilities	725,907	326,063
Long-term debt, less current portion	6,928	13,858
Tax receivable agreements, less current portion	333,407	265,750
Deferred compensation plan obligations	39,875	39,965
Deferred tax liabilities	46,137	0
Other liabilities	44,847	23,978
Total liabilities	1,197,101	669,614
Redeemable limited partners' capital	2,809,333	3,137,230
Additional paid-in-capital	0	0
Accumulated deficit	(1,408,257)	(1,951,878)
Accumulated other comprehensive loss	0	(43)
Total stockholders' deficit	(1,407,750)	(1,951,461)
Total liabilities, redeemable limited partners' capital and stockholders' deficit	2,598,684	1,855,383
Class A Common Stock
Common stock	507	460
Class B Common Stock
Common stock	$ 0	$ 0

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2017	Jun. 30, 2016
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 2,908	$ 1,981
Accumulated depreciation	303,052	265,751
Accumulated amortization	$ 85,498	$ 50,870
Class A Common Stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	50,706,518	45,995,528
Common stock, shares outstanding	50,706,518	45,995,528
Class B Common Stock
Common stock, par value (in dollars per share)	$ 0.000001	$ 0.000001
Common stock, shares authorized	600,000,000	600,000,000
Common stock, shares issued	88,407,103	96,132,723
Common stock, shares outstanding	88,407,103	96,132,723

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Net revenue:
Net administrative fees	$ 143,915	$ 131,270	$ 398,962	$ 369,952
Other services and support	97,756	87,389	265,974	252,114
Services	241,671	218,659	664,936	622,066
Products	138,132	80,010	386,639	239,107
Net revenue	379,803	298,669	1,051,575	861,173
Cost of revenue:
Services	47,319	40,685	134,865	119,301
Products	129,929	71,408	356,900	214,512
Cost of revenue	177,248	112,093	491,765	333,813
Gross profit	202,555	186,576	559,810	527,360
Operating expenses:
Selling, general and administrative	108,668	101,898	296,833	288,120
Research and development	755	1,180	2,328	2,060
Amortization of purchased intangible assets	14,080	8,740	34,440	24,058
Operating expenses	123,503	111,818	333,601	314,238
Operating income	79,052	74,758	226,209	213,122
Remeasurement gain attributable to acquisition of Innovatix, LLC	0	0	204,833	0
Equity in net income of unconsolidated affiliates	83	6,627	14,789	16,002
Interest and investment loss, net	(2,017)	(285)	(3,026)	(981)
Loss on disposal of long-lived assets	(725)	0	(2,243)	0
Other income (expense), net	2,260	0	3,135	(2,081)
Other income (expense), net	(399)	6,342	217,488	12,940
Income before income taxes	78,653	81,100	443,697	226,062
Income tax expense	7,315	9,543	68,080	41,257
Net income (loss)	71,338	71,557	375,617	184,805
Net income attributable to non-controlling interest in Premier LP	(51,433)	(56,018)	(282,207)	(153,735)
Adjustment of redeemable limited partners' capital to redemption amount	(100,506)	284,409	296,566	685,649
Net income (loss) attributable to stockholders	$ (80,601)	$ 299,948	$ 389,976	$ 716,719
Weighted average shares outstanding:
Basic (in shares)	50,525	44,716	49,051	41,329
Diluted (in shares)	50,525	145,018	141,372	145,558
Earnings (loss) per share attributable to stockholders:
Basic (in dollars per share)	$ (1.60)	$ 6.71	$ 7.95	$ 17.34
Diluted (in dollars per share)	$ (1.60)	$ 0.43	$ 2.22	$ 1.03

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 71,338	$ 71,557	$ 375,617	$ 184,805
Net unrealized gain (loss) on marketable securities	0	283	128	(226)
Total comprehensive income	71,338	71,840	375,745	184,579
Less: Comprehensive income attributable to non-controlling interest	(51,433)	(56,219)	(282,292)	(153,578)
Comprehensive income attributable to Premier, Inc.	$ 19,905	$ 15,621	$ 93,453	$ 31,001

Condensed Consolidated Stateme6

Condensed Consolidated Statement of Stockholders' Deficit - 9 months ended Mar. 31, 2017 - USD ($) shares in Thousands, $ in Thousands	Total	Class B Common Stock	Common StockClass A Common Stock	Common StockClass B Common Stock	Additional Paid-In Capital	Accumulated Deficit (Restated)	Accumulated Other Comprehensive Loss
Beginning Balance (in shares) at Jun. 30, 2016			45,996	96,133
Beginning Balance at Jun. 30, 2016	$ (1,951,461)		$ 460	$ 0	$ 0	$ (1,951,878)	$ (43)
Increase (Decrease) in Stockholders' Equity
Exchange of Class B units for Class A common stock by member owners (in shares)			3,858	(3,858)
Exchange of Class B units for Class A common stock by member owners	123,781		$ 38		123,743
Exchange of Class B units for cash by member owners (in shares)		(7,700)		(3,810)
Exchange of Class B units for cash by member owners	0
Redemption of limited partner (in shares)				(58)
Redemption of limited partner	0
Increase in additional paid-in capital related to quarterly exchange by member owners	23,886				23,886
Issuance of Class A common stock under equity incentive plan (in shares)			812
Issuance of Class A common stock under equity incentive plan	3,322		$ 8		3,314
Issuance of Class A common stock under employee stock purchase plan (in shares)			41
Issuance of Class A common stock under employee stock purchase plan	1,256		$ 1		1,255
Stock-based compensation expense	19,125				19,125
Repurchase of vested restricted units for employee tax-withholding	(17,678)				(17,678)
Net income	375,617					375,617
Net income attributable to non-controlling interest in Premier LP	(282,207)					(282,207)
Net unrealized gain (loss) on marketable securities	43						43
Adjustment of redeemable limited partners' capital to redemption amount	296,566				(153,645)	450,211
Ending Balance (in shares) at Mar. 31, 2017			50,707	88,407
Ending Balance at Mar. 31, 2017	$ (1,407,750)		$ 507	$ 0	$ 0	$ (1,408,257)	$ 0

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Operating activities
Net income	$ 375,617	$ 184,805
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	77,758	61,232
Equity in net income of unconsolidated affiliates	(14,789)	(16,002)
Deferred income taxes	45,961	22,345
Stock-based compensation	19,125	36,785
Adjustment to tax receivable agreement liability	(2,954)	(4,818)
Remeasurement gain attributable to acquisition of Innovatix, LLC	(204,833)	0
Loss on disposal of long-lived assets	2,243	0
Changes in operating assets and liabilities:
Accounts receivable, prepaid expenses and other current assets	7,037	(27,071)
Other assets	405	(9,773)
Inventories	(14,693)	3,751
Accounts payable, accrued expenses and other current liabilities	(11,082)	21,450
Long-term liabilities	(1,221)	(1,246)
Other operating activities	(4,363)	(521)
Net cash provided by operating activities	274,211	270,937
Investing activities
Purchase of marketable securities	0	(19,211)
Proceeds from sale of marketable securities	48,013	367,600
Acquisition of Innovatix, LLC and Essensa Ventures, LLC, net of cash acquired	(319,717)	0
Acquisition of Acro Pharmaceutical Services LLC and Community Pharmacy Services, LLC, net of cash acquired	(64,500)	0
Acquisition of CECity.com, Inc., net of cash acquired	0	(398,261)
Acquisition of Healthcare Insights, LLC, net of cash acquired	0	(64,274)
Acquisition of InFlow Health, LLC	0	(6,088)
Investment in unconsolidated affiliates	(65,660)	(3,250)
Distributions received on equity investments in unconsolidated affiliates	6,550	17,043
Purchases of property and equipment	(51,892)	(54,684)
Other investing activities	25	(6)
Net cash used in investing activities	(447,181)	(161,131)
Financing activities
Payments made on notes payable	(3,336)	(1,847)
Proceeds from credit facility	425,000	150,000
Payments on credit facility	(57,500)	(100,000)
Proceeds from exercise of stock options under equity incentive plan	3,322	2,519
Proceeds from issuance of Class A common stock under stock purchase plan	1,256	1,302
Repurchase of vested restricted units for employee tax-withholding	(17,678)	(63)
Settlement of exchange of Class B units by member owners	(123,330)	0
Distributions to limited partners of Premier LP	(67,363)	(67,965)
Final remittance of net income attributable to former S2S Global minority shareholder	0	(1,890)
Net cash provided by (used in) financing activities	160,371	(17,944)
Net increase (decrease) in cash and cash equivalents	(12,599)	91,862
Cash and cash equivalents at beginning of year	248,817	146,522
Cash and cash equivalents at end of period	236,218	238,384
Supplemental schedule of non cash investing and financing activities:
Decrease in redeemable limited partners' capital for adjustment to fair value, with offsetting decreases in additional paid-in-capital and accumulated deficit	296,566	685,649
Reduction in redeemable limited partners' capital, with offsetting increases in common stock and additional paid-in capital related to quarterly exchanges by member owners	123,781	260,598
Reduction in redeemable limited partners' capital for limited partners' distribution payable	67,941	24,743
Distributions utilized to reduce subscriptions, notes, interest and accounts receivable from member owners	1,561	4,813
Net increase in deferred tax assets related to quarterly exchanges by member owners and other adjustments	94,594	92,387
Net increase in tax receivable agreement liability related to quarterly exchanges by member owners and other adjustments	70,708	58,193
Net increase in additional paid-in capital related to quarterly exchanges by member owners and other adjustments	23,886	34,195
Net increase in investments in unconsolidated affiliates related to FFF Enterprises, Inc. put and call rights, with offsetting increases in other assets and other liabilities	15,460	0
Net increase in investments in unconsolidated affiliates related to deferred taxes attributed to the net fair value of FFF Enterprises, Inc. put and call rights, with offsetting increases in deferred tax assets and deferred tax liabilities	5,955	0
Payable to member owners incurred upon repurchase of ownership interest	$ 132	$ 2,888

ORGANIZATION AND BASIS OF PRESE

ORGANIZATION AND BASIS OF PRESENTATION	9 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BASIS OF PRESENTATION	(1) ORGANIZATION AND BASIS OF PRESENTATION Organization Premier, Inc. ("Premier" or the "Company") is a publicly-held, for-profit Delaware corporation primarily owned by hospitals, health systems and other healthcare organizations (such owners of Premier are referred to herein as "member owners") located in the United States and by public stockholders. The Company, together with its subsidiaries and affiliates, is a leading healthcare performance improvement company that unites hospitals, health systems, physicians and other healthcare providers to improve and innovate in the clinical, financial and operational areas of their businesses to meet the demands of a rapidly evolving healthcare industry. The Company's business model and solutions are designed to provide its members access to scale efficiencies, spread the cost of their development, provide actionable intelligence derived from anonymized data in the Company's data warehouse, mitigate the risk of innovation and disseminate best practices that will help the Company's member organizations succeed in their transformation to higher quality and more cost-effective healthcare. The Company, together with its subsidiaries and affiliates, delivers its integrated platform of solutions through two business segments: supply chain services and performance services. See Note 16 - Segments for further information related to the Company's reportable business segments. The supply chain services segment includes one of the largest healthcare group purchasing organizations ("GPOs") in the United States and integrated pharmacy and direct sourcing activities. The performance services segment includes one of the largest informatics and advisory services businesses in the United States focused on healthcare providers. The Company's software as a service ("SaaS") informatics products utilize its comprehensive data set to provide actionable intelligence to its members, enabling them to benchmark, analyze and identify areas of improvement across the three main categories of cost management, quality and safety, and population health management. The performance services segment also includes the Company's technology-enabled performance improvement collaboratives, advisory services, government services and insurance management services. Basis of Presentation and Consolidation Basis of Presentation The Company, through its wholly-owned subsidiary, Premier Services, LLC ("Premier GP"), held an approximate 36% and 32% general partner interest in Premier Healthcare Alliance, L.P. ("Premier LP") at March 31, 2017 and June 30, 2016 , respectively. Premier LP's limited partners held an approximate 64% and 68% ownership interest at March 31, 2017 and June 30, 2016 , respectively. The limited partners' interest is reflected as redeemable limited partners' capital in the Company's accompanying condensed consolidated balance sheets, and the limited partners' proportionate share of income in Premier LP is reflected within net income attributable to non-controlling interest in Premier LP in the Company's accompanying condensed consolidated statements of income and within comprehensive income attributable to non-controlling interest in Premier LP in the Company's accompanying condensed consolidated statements of comprehensive income. At March 31, 2017 and June 30, 2016 , the member owners owned approximately 64% and 68% , respectively, of the Company's combined Class A and Class B common stock (the "common stock") through their ownership of Class B common stock. During the nine months ended March 31, 2017 , the member owners exchanged 3.9 million Class B common units and associated Class B common shares for an equal number of Class A common shares, and exchanged 3.8 million Class B common units and associated Class B common shares for cash as part of their quarterly exchange rights under an exchange agreement (the "Exchange Agreement") entered into by the member owners in connection with the completion of a series of transactions (the "Reorganization") concurrent with the consummation of the Company's initial public offering (the "IPO," and together with the Reorganization, the "Reorganization and IPO") on October 1, 2013 (see Note 11 - Earnings (Loss) Per Share ). During the nine months ended March 31, 2017 , approximately 3.8 million Class B common units were retired in connection with the member owner exchange for cash and approximately 3.9 million Class B common units were contributed to Premier LP and converted to Class A common units which remain outstanding. Correspondingly, approximately 7.7 million Class B common shares were retired during the same period. Refer to the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2016 (the " 2016 Annual Report") filed with the Securities and Exchange Commission ("SEC") on August 25, 2016 for further discussion of the Exchange Agreement and Reorganization and IPO. At March 31, 2017 and June 30, 2016 , the public investors, which may include member owners that have received shares of Class A common stock in connection with previous exchanges of their Class B common units and associated Class B common shares for an equal number of Class A common shares, owned approximately 36% and 32% , respectively, of the Company's outstanding common stock through their ownership of Class A common stock. Variable Interest Entities Premier LP is a variable interest entity ("VIE") as the limited partners do not have the ability to exercise a substantive removal right with respect to the general partner. The Company does not hold a majority interest but, through Premier GP, has the exclusive power and authority to manage the business and affairs of Premier LP, to make all decisions with respect to driving the economic performance of Premier LP, and has both an obligation to absorb losses and a right to receive benefits. As such, the Company is the primary beneficiary of the VIE and consolidates the operations of Premier LP under the Variable Interest Model. See Note 2 - Significant Accounting Policies for further discussion of recently adopted accounting standards related to VIEs. The assets and liabilities of Premier LP at March 31, 2017 (restated) and June 30, 2016 consisted of the following (in thousands): March 31, 2017 June 30, 2016 (Restated) Assets Current $ 460,992 $ 442,251 Noncurrent 1,635,668 973,741 Total assets of Premier LP $ 2,096,660 $ 1,415,992 Liabilities Current $ 721,360 $ 312,068 Noncurrent 134,472 74,709 Total liabilities of Premier LP $ 855,832 $ 386,777 Net income attributable to Premier LP was as follows (in thousands): Three Months Ended March 31, Nine Months Ended March 31, 2017 2016 2017 2016 (Restated) (Restated) Premier LP net income $ 80,837 $ 81,846 $ 436,811 $ 217,293 Premier LP's cash flows for the nine months ended March 31, 2017 (restated) and 2016 consisted of the following (in thousands): Nine Months Ended March 31, 2017 2016 Net cash provided by (used in): Operating activities $ 320,185 $ 285,124 Investing activities (447,181 ) (161,131 ) Financing activities 121,090 (47,593 ) Net increase (decrease) in cash and cash equivalents (5,906 ) 76,400 Cash and cash equivalents at beginning of year 210,048 126,662 Cash and cash equivalents at end of period $ 204,142 $ 203,062 Principles of Consolidation The accompanying condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial information and pursuant to the rules and regulations of the SEC. Accordingly, certain information and disclosures normally included in annual financial statements have been condensed or omitted. The accompanying condensed consolidated financial statements reflect all adjustments that, in the opinion of management, are necessary for a fair presentation of results of operations and financial condition for the interim periods shown, including normal recurring adjustments. The Company believes that the disclosures are adequate to make the information presented not misleading and should be read in conjunction with the audited consolidated financial statements and related footnotes contained in the 2016 Annual Report. Use of Estimates in the Preparation of Financial Statements The preparation of the Company's condensed consolidated financial statements in accordance with GAAP requires management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses and related disclosure of contingent assets and liabilities. Significant estimates are evaluated on an ongoing basis, including estimates for allowances for doubtful accounts, useful lives of property and equipment, stock-based compensation, payables under tax receivable agreements, values of investments not publicly traded, the valuation allowance on deferred tax assets, uncertain income taxes, deferred revenue, future cash flows associated with asset impairments, values of put and call rights and the allocation of purchase prices. These estimates are based on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates. Restatement of Previously Reported Financial Information Prior to December 2, 2016, the Company, through its consolidated subsidiary, Premier Supply Chain Improvement, Inc. ("PSCI"), held a 50% ownership interest in Innovatix, LLC ("Innovatix"), which was accounted for under the equity method and classified as a partnership for tax purposes. On December 2, 2016, the Company acquired the remaining 50% ownership interest of Innovatix. In connection with the acquisition, the Company’s historical 50% investment was remeasured under business combination accounting rules to fair value, resulting in a one-time gain of $204.8 million . At the time of the acquisition, a deferred tax liability of $95.8 million and a corresponding deferred income tax expense of $95.8 million associated with the one-time gain were recorded by the Company and are reflected in the previously issued financial statements included in the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2017, originally filed with the Securities and Exchange Commission ("SEC") on May 10, 2017 (the "Original Form 10-Q"). Subsequent to the issuance of the financial statements included in the Company's Original Form 10-Q, the Company adjusted its income tax accounting for this acquisition. The Company determined that a portion of the deferred tax liability and a portion of the deferred tax expense associated with the $204.8 million gain that were reflected in the previously issued financial statements should not have been recorded. Accordingly, the Company determined it necessary to adjust the Original Form 10-Q to restate the previously recorded deferred tax liability and deferred income tax expense, and record deferred tax liabilities associated with the book and tax bases differences of the individual assets acquired and liabilities assumed. The impact of these changes on selected financial amounts within the accompanying condensed consolidated financial statements is summarized below: March 31, 2017 Condensed Consolidated Balance Sheet Previously Reported Effect of Restatement Restated Assets: Goodwill $ 865,445 $ 42,904 $ 908,349 Deferred income tax assets $ 479,241 $ (10,481 ) $ 468,760 Total assets $ 2,566,261 $ 32,423 $ 2,598,684 Liabilities and stockholders' deficit: Deferred tax liabilities $ 80,422 $ (34,285 ) $ 46,137 Total liabilities $ 1,231,386 $ (34,285 ) $ 1,197,101 Accumulated deficit $ (1,474,965 ) $ 66,708 $ (1,408,257 ) Total stockholders' deficit $ (1,474,458 ) $ 66,708 $ (1,407,750 ) Total liabilities, redeemable limited partners' capital and stockholders' deficit $ 2,566,261 $ 32,423 $ 2,598,684 Three months ended March 31, 2017 Condensed Consolidated Statements of Income Previously Reported Effect of Restatement Restated Income tax expense $ 6,514 $ 801 $ 7,315 Net income $ 72,139 $ (801 ) $ 71,338 Net income attributable to non-controlling interest in Premier LP $ (51,965 ) $ 532 $ (51,433 ) Adjustment of redeemable limited partners' capital to redemption amount $ (99,974 ) $ (532 ) $ (100,506 ) Net income attributable to stockholders $ (79,800 ) $ (801 ) $ (80,601 ) Earnings per share attributable to stockholders: Basic $ (1.58 ) $ (0.02 ) $ (1.60 ) Diluted $ (1.58 ) $ (0.02 ) $ (1.60 ) Nine months ended March 31, 2017 Condensed Consolidated Statements of Income Previously Reported Effect of Restatement Restated Income tax expense $ 134,788 $ (66,708 ) $ 68,080 Net income $ 308,909 $ 66,708 $ 375,617 Net income attributable to non-controlling interest in Premier LP $ (232,683 ) $ (49,524 ) $ (282,207 ) Adjustment of redeemable limited partners' capital to redemption amount $ 247,042 $ 49,524 $ 296,566 Net income attributable to stockholders $ 323,268 $ 66,708 $ 389,976 Earnings per share attributable to stockholders: Basic $ 6.59 $ 1.36 $ 7.95 Diluted $ 1.83 $ 0.39 $ 2.22 Three months ended March 31, 2017 Condensed Consolidated Statements of Comprehensive Income Previously Reported Effect of Restatement Restated Net income $ 72,139 $ (801 ) $ 71,338 Comprehensive income attributable to non-controlling interest $ (51,965 ) $ 532 $ (51,433 ) Comprehensive income attributable to Premier, Inc. $ 20,174 $ (269 ) $ 19,905 Nine months ended March 31, 2017 Condensed Consolidated Statements of Comprehensive Income Previously Reported Effect of Restatement Restated Net income $ 308,909 $ 66,708 $ 375,617 Comprehensive income attributable to non-controlling interest $ (232,768 ) $ (49,524 ) $ (282,292 ) Comprehensive income attributable to Premier, Inc. $ 76,269 $ 17,184 $ 93,453 Nine months ended March 31, 2017 Condensed Consolidated Statement of Stockholders' Deficit Previously Reported Effect of Restatement Restated Net income $ 308,909 $ 66,708 $ 375,617 Net income attributable to non-controlling interest in Premier LP $ (232,683 ) $ (49,524 ) $ (282,207 ) Accumulated deficit - Adjustment of redeemable limited partners' capital to redemption amount $ 400,687 $ 49,524 $ 450,211 Total stockholders' deficit - Adjustment of redeemable limited partners' capital to redemption amount $ 247,042 $ 49,524 $ 296,566 Total accumulated deficit (a) $ (1,474,965 ) $ 66,708 $ (1,408,257 ) Total stockholders' deficit (a) $ (1,474,458 ) $ 66,708 $ (1,407,750 ) Nine months ended March 31, 2017 Condensed Consolidated Statements of Cash Flows Previously Reported Effect of Restatement Restated Net income $ 308,909 $ 66,708 $ 375,617 Deferred income taxes $ 112,669 $ (66,708 ) $ 45,961 (a) Balances presented as of March 31, 2017.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	(2) SIGNIFICANT ACCOUNTING POLICIES There have been no material changes to the Company's significant accounting policies as described in the 2016 Annual Report. Recently Adopted Accounting Standards In March 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-09, Compensation - Stock Compensation (Topic 718), Improvements to Employee Share-Based Payment Accounting , which is intended to simplify the accounting for employee share-based payments. The amendments in this updated guidance include changes to simplify the accounting for share-based payment transactions, including the income tax consequences, classification of such share-based awards as either equity or liabilities and classification in the statement of cash flows. The Company early-adopted the standard effective July 1, 2016, using the prospective approach. Pursuant to the guidance, the Company recognized gross excess tax benefits of approximately $9.1 million ( $3.6 million tax effected) during the three months ended September 30, 2016, which were fully offset by a valuation allowance at PHSI, the Company's consolidated subsidiary. No adjustments were made to prior periods, and the impact on prior periods would have been immaterial. All excess tax benefits related to share-based awards are reported as operating activities within the accompanying condensed consolidated statement of cash flows. In addition, the Company calculated diluted earnings per share without consideration of any tax benefits in determining dilutive shares. In August 2015, the FASB issued ASU 2015-15, Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements , which clarifies the SEC staff's position in ASU 2015-03 on presenting and measuring debt issuance costs incurred in connection with line-of-credit arrangements given the lack of guidance on this topic in ASU 2015-03, Interest-Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs . ASU 2015-15 states that the SEC staff would "not object to an entity deferring and presenting debt issuance costs as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of the line-of-credit arrangement." The Company adopted the standard effective July 1, 2016 using the retrospective approach. The guidance had no impact on the Company's accounting for debt issuance costs associated with its line of credit. In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis , which effectively eliminated the presumption that a general partner should consolidate a limited partnership, modified the evaluation of whether limited partnerships and similar legal entities are VIEs or voting interest entities, and affected the consolidation analysis of reporting entities that are involved with VIEs (particularly those that have fee arrangements and related party relationships). The Company adopted the standard effective July 1, 2016 using the modified retrospective approach. The adoption of ASU 2015-02 did not impact the Company's conclusions regarding consolidation or the consolidated financial statements other than providing additional disclosures around Premier's consolidation of Premier LP. As a result of ASU 2015-02, the Company no longer consolidates Premier LP under the presumption that the general partner controls a limited partnership but rather consolidates Premier LP under the Variable Interest Model. Premier LP meets the definition of a VIE as the limited partners do not have the ability to exercise a substantive removal right with respect to the general partner, Premier GP. Additionally, the Company, through Premier GP, has the exclusive power and authority to manage the business and affairs of Premier LP, to make all decisions with respect thereto driving the economic performance of Premier LP, and has both an obligation to absorb losses and a right to receive benefits. Recently Issued Accounting Standards Not Yet Adopted In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment , which eliminates Step 2 from the goodwill impairment test. The guidance requires an entity to perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. In addition, the guidance eliminates the requirement for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment. The standard is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The new standard will be effective for the Company for the fiscal year beginning July 1, 2020. Early adoption is permitted for interim and annual goodwill impairment tests performed after January 1, 2017. The Company is currently evaluating the impact of the adoption of the new standard on its consolidated financial statements and related disclosures. In October 2016, the FASB issued ASU 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory , which removes the prohibition in ASC 740 against the immediate recognition of the current and deferred income tax effects of intra-entity transfers of assets other than inventory. The guidance is intended to reduce the complexity of GAAP and diversity in practice related to the tax consequences of certain types of intra-entity asset transfers, particularly those involving intellectual property. The standard is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The new standard will be effective for the Company for the fiscal year beginning July 1, 2018. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of the new standard on its consolidated financial statements and related disclosures. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments , which amends the guidance in ASC 230 on the classification of certain cash receipts and payments in the statement of cash flows. The primary purpose of the ASU is to reduce the diversity in practice that has resulted from the lack of consistent principles on this topic. The ASU amendments add or clarify guidance on eight cash flow issues. The standard is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The new standard will be effective for the Company for the fiscal year beginning July 1, 2018. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of the new standard on its consolidated financial statements and related disclosures. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , which is intended to increase transparency and comparability among organizations of accounting for leasing arrangements. This guidance establishes a right-of-use model that requires a lessee to record a right-of-use asset and a lease liability on the balance sheet for all leases with terms longer than twelve months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. Entities will be required to recognize and measure leases as of the earliest period presented using a modified retrospective approach. The standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The new standard will be effective for the Company for the fiscal year beginning July 1, 2019. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of the new standard on its consolidated financial statements and related disclosures. In January 2016, the FASB issued ASU 2016-01, Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities , which is intended to provide users of financial statements with more useful information on the recognition, measurement, presentation, and disclosure of financial instruments. The standard is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The new standard will be effective for the Company for the fiscal year beginning July 1, 2018. Early adoption is permitted for certain amendments. The Company is currently evaluating the impact of the adoption of the new standard on its consolidated financial statements and related disclosures. In July 2015, the FASB issued ASU 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory , which requires entities to measure most inventory "at the lower of cost and net realizable value," thereby simplifying the current guidance under which an entity must measure inventory at the lower of cost or market. This guidance will not apply to inventories that are measured by using either the last-in, first-out method or the retail inventory method. The new standard will be effective prospectively for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The new standard will be effective for the Company for the fiscal year beginning July 1, 2017. Upon transition, entities must disclose the nature of and reason for the accounting change. We do not expect the adoption of the new standard to have a material impact on our consolidated financial statements and related disclosures. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) , which will supersede nearly all existing revenue recognition guidance. The new standard requires revenue to be recognized when promised goods or services are transferred to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new standard also requires additional disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. The new standard allows for either full retrospective or modified retrospective adoption. The FASB subsequently issued an amendment in ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date , in August 2015 to defer the effective date of the new standard for all entities by one year. The new standard, as amended, will be effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption as of the original effective date for public entities will be permitted. The FASB issued another amendment in ASU 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations , in March 2016 related to a third party providing goods or services to a customer. When another party is involved in providing goods or services to a customer, an entity is required to determine whether the nature of its promise is to provide the specified good or service itself or to arrange for the good or service to be provided by a third party. If the entity provides the specific good or service itself, the entity acts as a principal. If an entity arranges for the good or service to be provided by a third party, the entity acts as an agent. The standard requires the principal to recognize revenue for the gross amount and the agent to recognize revenue for the amount of any fee or commission for which it expects to be entitled in exchange for arranging for the specified good or service to be provided. The new standard will be effective with ASU 2014-09. In April 2016, the FASB issued ASU 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing , which amends specific aspects of ASU 2014-09, including how to identify performance obligations and guidance related to licensing implementation. This amendment provides guidance on determining whether an entity's promise to grant a license provides a customer with either a right to use the entity's intellectual property or a right to access the entity's intellectual property. The amendment will be effective with ASU 2014-09. In May 2016, the FASB issued ASU 2016-12, Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients , which clarifies specific aspects of ASU 2014-09, clarifying how to identify performance obligations and guidance related to its promise in granting a license of intellectual property. This new standard provides guidance to allow entities to disregard items that are immaterial in the context of the contract, clarify when a promised good or service is separately identifiable and allow an entity to elect to account for the cost of shipping and handling performed after control of a good has been transferred to the customer as a fulfillment cost. The new standard also clarifies how an entity should evaluate the nature of its promise in granting a license of intellectual property to help determine whether it recognizes revenue over time or at a point in time and addresses how entities should consider license renewals and restrictions. The new standard will be effective with ASU 2014-09. In December 2016, the FASB issued ASU 2016-20, Technical Corrections and Improvements to Topic 606: Revenue from Contracts with Customers , which clarifies specific aspects of ASU 2014-09, including allowing entities not to make quantitative disclosures about remaining performance obligations in certain cases and requiring entities that use any of the new or previously existing optional exemptions to expand their qualitative disclosures. The new standard also makes twelve other technical corrections and modifications to ASU 2014-09. The new standard will be effective with ASU 2014-09. The new revenue recognition standards discussed above, as amended, will be effective for the Company for the fiscal year beginning July 1, 2018. The Company is currently evaluating the transition method that will be elected as well as the impact of the adoption of the new standards on its consolidated financial statements and related disclosures. Additionally, we are evaluating the potential impacts on our revenue contracts and identifying appropriate changes to our business processes, systems and controls to support revenue recognition and disclosure requirements under the new standard.

BUSINESS ACQUISITIONS

BUSINESS ACQUISITIONS	9 Months Ended
	Mar. 31, 2017
Business Combinations [Abstract]
BUSINESS ACQUISITIONS	(3) BUSINESS ACQUISITIONS Acquisition of Innovatix, LLC and Essensa Ventures, LLC Prior to December 2, 2016 , the Company, through its consolidated subsidiary, PSCI, held 50% of the membership interests in Innovatix, LLC ("Innovatix") (see Note 4 - Investments ). On December 2, 2016 , the Company, through PSCI, acquired from GNYHA Holdings, LLC (see Note 14 - Related Party Transactions ) the remaining 50% ownership interest of Innovatix and 100% of the ownership interest in Essensa Ventures, LLC ("Essensa") for $325.0 million , of which $227.5 million in cash was paid at closing and $97.5 million in cash was paid on January 10, 2017 . The purchase price is subject to adjustment based on Innovatix's and Essensa's (i) cash on hand and cash equivalents, (ii) outstanding indebtedness and (iii) net working capital at closing. With regard to Innovatix, the purchase price adjustments set forth in (i), (ii) and (iii) above are limited to 50% of the actual amount due to PSCI’s 50% ownership interest prior to the acquisition. Innovatix and Essensa are GPOs focused on serving nonacute and alternate site health care providers and other organizations throughout the United States. In connection with the acquisition, the Company utilized its credit facility dated June 24, 2014, as amended on June 4, 2015 (the "Credit Facility") to fund the $325.0 million purchase price (see Note 8 - Debt ), which is reflected within current portion of long-term debt in the condensed consolidated balance sheet at March 31, 2017 . The Company incurred $0.4 million and $5.1 million of transaction costs related to this acquisition during the three and nine months ended March 31, 2017 , respectively. These transaction costs were included in selling, general and administrative expenses in the accompanying condensed consolidated statements of income. The Company has accounted for the Innovatix and Essensa acquisition as a business combination whereby the purchase price was allocated to tangible and intangible assets acquired (see Note 6 - Intangible Assets, Net ) and liabilities assumed based on their preliminary fair values. The purchase price allocation for the Innovatix and Essensa acquisition is preliminary and subject to changes in the fair value of working capital and valuation of the assets acquired and the liabilities assumed. The acquisition resulted in the recognition of approximately $334.6 million of goodwill (see Note 7 - Goodwill ) attributable to the anticipated profitability of Innovatix and Essensa. The acquisition was considered an asset acquisition for tax purposes, and accordingly, the Company expects a portion of the goodwill to be deductible for tax purposes. The preliminary fair values assigned to the net assets acquired and the liabilities assumed as of the acquisition date were as follows (in thousands): Acquisition Date Fair Value (Restated) Cash paid at closing $ 227,500 Cash paid on January 10, 2017 97,500 Purchase price 325,000 Additional cash paid at closing 10,984 Adjusted purchase price 335,984 Earn-out liability 16,662 Receivable from GNYHA Holdings, LLC (3,000 ) Estimated working capital settlement 1,106 Total consideration paid 350,752 Cash acquired (16,267 ) Net consideration 334,485 50% ownership interest in Innovatix 218,044 Payable to Innovatix and Essensa (5,765 ) Enterprise value 546,764 Accounts receivable 22,261 Prepaid expenses and other current assets 686 Fixed assets, net 2,064 Intangible assets 242,906 Total assets acquired 267,917 Accrued expenses 5,264 Revenue share obligations 6,937 Other current liabilities 694 Total liabilities assumed 12,895 Deferred tax liability 42,904 Goodwill $ 334,646 The acquisition provides the selling members an earn-out opportunity of up to $43.0 million based on Innovatix's and Essensa's Adjusted EBITDA (as defined in the purchase agreement) for the fiscal year ending June 30, 2017 . In accordance with GAAP, the contingent consideration is recorded at fair value based on a probability-weighted approach including multiple earnings scenarios. This value is not indicative of a known amount to be paid. As of March 31, 2017 , the fair value of the earn-out liability was $18.5 million (see Note 5 - Fair Value Measurements ). Certain executive officers of Innovatix and Essensa executed employment agreements that became effective upon the closing of the acquisition. The purchase agreement provides that in the event that Innovatix's and Essensa's Adjusted EBITDA exceeds agreed upon amounts, certain of those executive officers are entitled to receive a retention bonus payment of up to $3.0 million in the aggregate for which the Company will be reimbursed by GNYHA Holdings, LLC. The Company's 50% ownership interest in Innovatix prior to the acquisition was accounted for under the equity method and had a carrying value of $13.2 million (see Note 4 - Investments ). In connection with the acquisition, the Company's investment was remeasured under business combination accounting rules to a fair value of $218.0 million , resulting in a one-time gain of $204.8 million which was recorded in the accompanying condensed consolidated statements of income as other income. Pro forma results of operations for the acquisition have not been presented because the effects on revenue and net income were not material to our historic consolidated financial statements. The Company reports Innovatix and Essensa as part of its supply chain services segment. Acquisition of Acro Pharmaceutical Services LLC and Community Pharmacy Services, LLC On August 23, 2016, the Company, through its consolidated subsidiary, NS3 Health, LLC, acquired 100% of the membership interests of Acro Pharmaceutical Services LLC and Community Pharmacy Services, LLC (collectively, "Acro Pharmaceuticals") for $75.0 million in cash, subject to adjustment based on Acro Pharmaceuticals' (i) cash on hand, (ii) outstanding indebtedness and (iii) net working capital at closing. Acro Pharmaceuticals is a specialty pharmacy business that provides customized healthcare management solutions to clients. The acquisition was funded with available cash on hand. The Company has accounted for the Acro Pharmaceuticals acquisition as a business combination whereby the purchase price was allocated to tangible and intangible assets acquired and liabilities assumed based on their preliminary fair values. The purchase price allocation for the Acro Pharmaceuticals acquisition is preliminary and subject to changes in fair value of working capital and valuation of the assets acquired and the liabilities assumed. The Acro Pharmaceuticals acquisition resulted in the recognition of approximately $35.7 million of goodwill (see Note 7 - Goodwill ) attributable to the anticipated profitability of Acro Pharmaceuticals. The Acro Pharmaceuticals acquisition is considered an asset acquisition for tax purposes and accordingly, the Company expects the goodwill to be deductible for tax purposes. Pro forma results of operations for the acquisition have not been presented because the effects on revenue and net income were not material to our historic consolidated financial statements. The Company reports Acro Pharmaceuticals as part of its supply chain services segment.

INVESTMENTS

INVESTMENTS	9 Months Ended
	Mar. 31, 2017
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENTS	(4) INVESTMENTS Investments in Unconsolidated Affiliates The Company's investments in unconsolidated affiliates consisted of the following (in thousands): Carrying Value Equity in Net Income (Loss) Three Months Ended March 31, Nine Months Ended March 31, March 31, 2017 June 30, 2016 2017 2016 2017 2016 FFF Enterprises, Inc. $ 91,469 $ — $ 217 $ — $ 4,394 $ — BloodSolutions, LLC 2,091 2,185 (42 ) — (94 ) — PharmaPoint, LLC 4,318 4,572 (92 ) (108 ) (254 ) (284 ) Innovatix, LLC — 9,043 — 6,735 10,743 15,992 Other investments 1,000 1,000 — — — 294 Total investments $ 98,878 $ 16,800 $ 83 $ 6,627 $ 14,789 $ 16,002 On July 26, 2016, the Company, through its consolidated subsidiary, PSCI, acquired 49% of the issued and outstanding stock of FFF Enterprises, Inc. ("FFF") for $65.7 million in cash plus consideration in the form of the FFF put and call rights. The Company recorded the initial investment in FFF in the accompanying condensed consolidated balance sheet at $87.1 million , of which $65.7 million was in cash, $15.4 million was consideration in the form of the net fair value of the FFF put and call rights and $6.0 million related to deferred taxes attributed to the net fair value of the FFF put and call rights (see Note 5 - Fair Value Measurements for additional information related to the fair values of the FFF put and call rights). The Company accounts for its investment in FFF using the equity method of accounting and includes the investment as part of the supply chain services segment. On January 28, 2016, the Company, through its consolidated subsidiary, PSCI, purchased 5.3 million Class B Membership Units in BloodSolutions, LLC ("Bloodbuy") for approximately $2.3 million , which represented a 15% ownership interest in Bloodbuy. The Company accounts for its investment in Bloodbuy using the equity method of accounting as the Company has rights to appoint a board member, and includes the investment as part of the supply chain services segment. The Company, through its consolidated subsidiary, PSCI, held a 28% ownership interest in PharmaPoint, LLC ("PharmaPoint") through its 5.0 million units of Class B Membership Interests at March 31, 2017 and June 30, 2016 . The remaining 72% ownership interest is held by Nations Pharmaceuticals, LLC through its 13.0 million units of Class A Membership Interests. The Company accounts for its investment in PharmaPoint using the equity method of accounting and includes the investment as part of the supply chain services segment. The Company, through its consolidated subsidiary, PSCI, held 50% of the membership interests in Innovatix until December 2, 2016, at which time it acquired the remaining 50% membership interests (see Note 3 - Business Acquisitions and Note 14 - Related Party Transactions ). As a result, the Company recognized a one-time gain of $204.8 million related to the remeasurement of the then-existing 50% ownership share to fair value. Prior to the acquisition, the Company accounted for its investment in Innovatix using the equity method of accounting and included the investment as part of the supply chain services segment. Marketable Securities The Company has historically invested its excess cash in commercial paper, U.S. government debt securities, corporate debt securities and other securities with maturities generally ranging from three months to five years from the date of purchase. The Company uses the specific-identification method to determine the cost of securities sold. At March 31, 2017 , the Company had no marketable securities other than those included in deferred compensation plan assets (see Note 5 - Fair Value Measurements ). At June 30, 2016 , corporate debt securities and asset-backed securities were classified as current and long-term marketable securities in the accompanying condensed consolidated balance sheets. See Note 5 - Fair Value Measurements for further information related to the Company's measurement of fair market value for its marketable securities. At June 30, 2016 , marketable securities, classified as available-for-sale, consisted of the following (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Market Value June 30, 2016 Corporate debt securities $ 33,267 $ — $ (135 ) $ 33,132 Asset-backed securities 14,755 3 (1 ) 14,757 Total marketable securities $ 48,022 $ 3 $ (136 ) $ 47,889

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	(5) FAIR VALUE MEASUREMENTS Recurring Fair Value Measurements The following table represents the Company's financial assets and liabilities which are measured at fair value on a recurring basis (in thousands): Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) March 31, 2017 Cash equivalents $ 75,149 $ 75,149 $ — $ — FFF call right 9,936 — — 9,936 Deferred compensation plan assets 45,368 45,368 — — Total assets $ 130,453 $ 120,517 $ — $ 9,936 Earn-out liabilities $ 18,787 $ — $ — $ 18,787 FFF put right 25,482 — — 25,482 Total liabilities $ 44,269 $ — $ — $ 44,269 June 30, 2016 Cash equivalents $ 83,846 $ 83,846 $ — $ — Corporate debt securities 33,132 — 33,132 — Asset-backed securities 14,757 — 14,757 — Deferred compensation plan assets 41,917 41,917 — — Total assets $ 173,652 $ 125,763 $ 47,889 $ — Earn-out liabilities $ 4,128 $ — $ — $ 4,128 Total liabilities $ 4,128 $ — $ — $ 4,128 Cash equivalents were included in cash and cash equivalents, and corporate debt securities and asset-backed securities were included in current and long-term marketable securities in the accompanying condensed consolidated balance sheets (see Note 4 - Investments ). The fair value of the Company's corporate debt securities and asset-backed securities, classified as Level 2, were valued using quoted prices for similar securities in active markets or quoted prices for identical or similar securities in markets that are not active. Deferred compensation plan assets consisted of highly liquid mutual fund investments, which were classified as Level 1. The current portion of deferred compensation plan assets was included in prepaid expenses and other current assets ( $5.5 million and $2.0 million at March 31, 2017 and June 30, 2016 , respectively) in the accompanying condensed consolidated balance sheets. Financial Instruments Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3) Earn-out liabilities Earn-out liabilities were incurred in connection with acquisitions of Inflow Health, LLC on October 1, 2015, Healthcare Insights, LLC ("HCI") on July 31, 2015 and Innovatix and Essensa on December 2, 2016 (see Note 3 - Business Acquisitions ). At March 31, 2017 and June 30, 2016 , the earn-out liabilities were classified as Level 3. The fair values of the earn-out liabilities were determined based on estimated future earnings and the probability of achieving them. The current portion of the earn-out liabilities was $18.5 million and $0.5 million at March 31, 2017 and June 30, 2016 , respectively, and was included in other liabilities, current in the accompanying condensed consolidated balance sheets. The long-term portion of the earn-out liabilities was $0.3 million and $3.7 million at March 31, 2017 and June 30, 2016 , respectively, and was included in other liabilities, noncurrent in the accompanying condensed consolidated balance sheets. Changes in the fair values of the earn-out liabilities were recorded within selling, general and administrative expenses in the accompanying condensed consolidated statements of income. FFF put and call rights Pursuant to a shareholders' agreement entered into in connection with the Company's equity investment in FFF on July 26, 2016 (see Note 4 - Investments ), the majority shareholder of FFF obtained a put right ("FFF put right") that provides such shareholder the right to sell all or any portion of its interest in FFF to the Company, which is exercisable beginning on the fourth anniversary of the investment closing date at a per share price equal to FFF's earnings before interest, taxes, depreciation and amortization ("EBITDA") over the twelve calendar months prior to the purchase date multiplied by a market adjusted multiple, adjusted for any outstanding debt and cash and cash equivalents ("Equity Value per Share"). In addition, the shareholders' agreement provided the Company with a call right ("FFF call right") to purchase the remaining interest in FFF from the majority shareholder, which is exercisable at any time within 180 calendar days after the date of a Key Man Event (generally defined in the shareholders' agreement as the resignation, termination for cause, death or disability of the majority shareholder). In the event that the FFF put or call rights are exercised, the purchase price for the additional interest in FFF will be at a per share price equal to the Equity Value per Share. The fair value of the FFF put and call rights were determined based on the Equity Value per Share calculation using unobservable inputs, which included the estimated FFF put and call rights' expiration dates, the forecast of FFF's EBITDA over the option period, forecasted movements in the overall market and the likelihood of a Key Man Event. Significant changes to the Equity Value per Share resulting from changes in the unobservable inputs could have a significant impact on the fair values of the FFF put and call rights. The Company recorded the FFF put and call rights within long term other liabilities and long term other assets, respectively, within the accompanying condensed consolidated balance sheets. Net changes in the fair value of the FFF put and call rights were recorded within other expense, net, in the accompanying condensed consolidated statements of income. A reconciliation of the Company's earn-out liabilities and FFF put and call rights is as follows (in thousands): Beginning Balance Purchases Gain (Loss) Ending Balance Three months ended March 31, 2017 FFF call right asset $ 10,750 $ — $ (814 ) $ 9,936 Total Level 3 assets $ 10,750 $ — $ (814 ) $ 9,936 Earn-out liabilities $ 16,713 $ — $ (2,074 ) $ 18,787 FFF put right liability 26,384 — 902 25,482 Total Level 3 liabilities $ 43,097 $ — $ (1,172 ) $ 44,269 Three months ended March 31, 2016 Earn-out liabilities $ 4,109 $ — $ (27 ) $ 4,136 Total Level 3 liabilities $ 4,109 $ — $ (27 ) $ 4,136 Nine months ended March 31, 2017 FFF call right asset $ — $ 10,361 $ (425 ) $ 9,936 Total Level 3 assets $ — $ 10,361 $ (425 ) $ 9,936 Earn-out liabilities $ 4,128 $ 16,662 $ 2,003 $ 18,787 FFF put right liability — 25,821 339 25,482 Total Level 3 liabilities $ 4,128 $ 42,483 $ 2,342 $ 44,269 Nine months ended March 31, 2016 Earn-out liabilities $ — $ 4,109 $ (27 ) $ 4,136 Total Level 3 liabilities $ — $ 4,109 $ (27 ) $ 4,136 Non-Recurring Fair Value Measurements During the nine months ended March 31, 2017 , no non-recurring fair value measurements were required related to the testing of goodwill and intangible assets for impairment. However, purchase price allocations required significant non-recurring Level 3 inputs. The preliminary fair values of the acquired intangible assets resulting from the acquisitions of Acro Pharmaceuticals and Innovatix and Essensa were determined using the income approach (see Note 3 - Business Acquisitions ). The Company recognized a one-time gain of $204.8 million related to the remeasurement of the Company's 50% equity method investment in Innovatix to fair value upon acquisition of the remaining interest in Innovatix (see Note 3 - Business Acquisitions ). The fair value of the investment was calculated using a discounted cash flow model. Financial Instruments For Which Fair Value Only is Disclosed The fair values of non-interest bearing notes payable, classified as Level 2, were less than their carrying values by approximately $0.6 million and $0.7 million at March 31, 2017 and June 30, 2016 , respectively, based on assumed market interest rates of 2.6% and 2.1% , respectively. Other Financial Instruments The fair value of cash, accounts receivable, accounts payable and accrued liabilities approximated carrying value due to the short-term nature of these financial instruments.

INTANGIBLE ASSETS, NET

INTANGIBLE ASSETS, NET	9 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS, NET	(6) INTANGIBLE ASSETS, NET Intangible assets, net consisted of the following (in thousands): Useful Life March 31, 2017 June 30, 2016 Member relationships 14.7 years $ 220,100 $ — Technology 5.0 years 145,140 143,727 Customer relationships 8.3 years 48,120 48,120 Trade names 8.3 years 22,710 13,160 Distribution network 10.0 years 22,400 — Favorable lease commitments 10.1 years 11,393 — Non-compete agreements 5.9 years 8,710 4,080 Total intangible assets 478,573 209,087 Accumulated amortization (85,498 ) (50,870 ) Intangible assets, net $ 393,075 $ 158,217 The increase in total intangible assets was due to the acquisitions of Acro Pharmaceuticals in August 2016 and Innovatix and Essensa in December 2016 (see Note 3 - Business Acquisitions ). Intangible asset amortization totaled $14.1 million and $8.7 million for the three months ended March 31, 2017 and 2016 , respectively, and $34.4 million and $24.1 million for the nine months ended March 31, 2017 and 2016 , respectively.

GOODWILL

GOODWILL	9 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	(7) GOODWILL Goodwill consisted of the following (in thousands): Supply Chain Services Performance Services Acquisition Adjustments (b) Total June 30, 2016 $ 31,765 $ 506,197 $ — $ 537,962 Acro Pharmaceuticals (a) 39,850 — (4,109 ) 35,741 Innovatix and Essensa (restated) (a) 331,163 — 3,483 334,646 March 31, 2017 (restated) $ 402,778 $ 506,197 $ (626 ) $ 908,349 (a) See Note 3 - Business Acquisitions for more information. (b) The initial purchase price allocations for the Company's acquisitions are preliminary and subject to changes in fair value of working capital and valuation of the assets acquired and the liabilities assumed. The Acro Pharmaceuticals acquisition adjustments were related to working capital adjustments subsequent to the acquisition date which were recorded in the Supply Chain Services segment. The Innovatix and Essensa acquisition adjustments were related to working capital and intangible asset adjustments subsequent to the acquisition date which were recorded in the Supply Chain Services segment. See Note 3 - Business Acquisitions for more information.

DEBT

DEBT	9 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
DEBT	(8) DEBT Long-term debt consisted of the following (in thousands): Commitment Amount Due Date March 31, 2017 June 30, 2016 Credit Facility $ 750,000 June 24, 2019 $ 367,500 $ — Notes payable $ — Various 16,138 19,342 Total debt 383,638 19,342 Less: Current portion (376,710 ) (5,484 ) Total long-term debt $ 6,928 $ 13,858 Credit Facility Premier LP, along with its consolidated subsidiaries, PSCI and PHSI, as Co-Borrowers, Premier GP and certain domestic subsidiaries of Premier GP, as guarantors, entered into an unsecured Credit Facility, dated as of June 24, 2014 and amended on June 4, 2015. The Credit Facility has a maturity date of June 24, 2019. The Credit Facility provides for borrowings of up to $750.0 million with (i) a $25.0 million sub-facility for standby letters of credit and (ii) a $75.0 million sub-facility for swingline loans. The Credit Facility may be increased from time to time at the Company's request up to an aggregate additional amount of $250.0 million , subject to lender approval. The Credit Facility includes an unconditional and irrevocable guaranty of all obligations under the Credit Facility by Premier GP, certain domestic subsidiaries of Premier GP and future guarantors, if any. Premier, Inc. is not a guarantor under the Credit Facility. At the Company's option, committed loans may be in the form of eurodollar rate loans ("Eurodollar Loans") or base rate loans ("Base Rate Loans"). Eurodollar Loans bear interest at the eurodollar rate (defined as the London Interbank Offered Rate, or LIBOR, plus the Applicable Rate (defined as a margin based on the Consolidated Total Leverage Ratio (as defined in the Credit Facility))). Base Rate Loans bear interest at the Base Rate (defined as the highest of the prime rate announced by the administrative agent, the federal funds effective rate plus 0.50% or the one-month LIBOR plus 1.0% ) plus the Applicable Rate. The Applicable Rate ranges from 1.125% to 1.750% for Eurodollar Loans and 0.125% to 0.750% for Base Rate Loans. At March 31, 2017 , the interest rate for three-month Eurodollar Loans was 2.275% and the interest rate for the Base Rate Loans was 4.125% . The Co-Borrowers are required to pay a commitment fee ranging from 0.125% to 0.250% per annum on the actual daily unused amount of commitments under the Credit Facility. At March 31, 2017 , the commitment fee was 0.125% . The Credit Facility contains customary representations and warranties as well as customary affirmative and negative covenants, including, among others, limitations on liens, indebtedness, fundamental changes, dispositions, restricted payments and investments, of which certain covenant calculations use EBITDA, a Non-GAAP financial measure. Under the terms of the Credit Facility, Premier GP is not permitted to allow its consolidated total leverage ratio (as defined in the Credit Facility) to exceed 3.00 to 1.00 for any period of four consecutive quarters. In addition, Premier GP must maintain a minimum consolidated interest coverage ratio (as defined in the Credit Facility) of 3.00 to 1.00 at the end of every fiscal quarter. Premier GP was in compliance with all such covenants at March 31, 2017 . The Credit Facility also contains customary events of default including, among others, payment defaults, breaches of representations and warranties, covenant defaults, cross-defaults of any indebtedness or guarantees in excess of $30.0 million , bankruptcy and other insolvency events, judgment defaults in excess of $30.0 million , and the occurrence of a change of control (as defined in the Credit Facility). If any event of default occurs and is continuing, the administrative agent under the Credit Facility may, with the consent, or shall, at the request, of the required lenders, terminate the commitments and declare all of the amounts owed under the Credit Facility to be immediately due and payable. The Company may prepay amounts outstanding under the Credit Facility without premium or penalty provided that Co-Borrowers compensate the lenders for losses and expenses incurred as a result of the prepayment of any Eurodollar Loan, as defined in the Credit Facility. Proceeds from borrowings under the Credit Facility may generally be used to finance ongoing working capital requirements, including permitted acquisitions, settlements of Class B unit exchanges under the Exchange Agreement (to the extent settled in cash) and other general corporate activities. During the nine months ended March 31, 2017 , the Company utilized $425.0 million of the Credit Facility, including $325.0 million to fund the acquisition price of Innovatix and Essensa (see Note 3 - Business Acquisitions ), approximately $50.0 million to fund the cash settlement portion of the October 31, 2016 Class B common unit exchange under the Exchange agreement (see Note 9 - Redeemable Limited Partners' Capital ), and the remainder to fund general corporate activities. During the three months ended March 31, 2017 , the Company repaid $57.5 million of borrowings under the Credit Facility. These borrowings were classified as current liabilities in the condensed consolidated balance sheets as they were due within one year of the balance sheet date. They may be renewed or extended at the option of the Company through the maturity date of the Credit Facility. On April 10, 2017, the Company repaid $97.5 million of borrowings under the Credit Facility. Notes Payable At March 31, 2017 and June 30, 2016 , the Company had $16.1 million and $19.3 million , respectively, in notes payable consisting primarily of non-interest bearing notes payable outstanding to departed member owners, of which $9.2 million and $5.5 million , respectively, were included in current portion of long-term debt and $6.9 million and $13.9 million , respectively, are included in long-term debt, less current portion, in the accompanying consolidated balance sheets. Notes payable generally have stated maturities of five years from their date of issuance.

REDEEMABLE LIMITED PARTNERS' CA

REDEEMABLE LIMITED PARTNERS' CAPITAL	9 Months Ended
	Mar. 31, 2017
Temporary Equity Disclosure [Abstract]
REDEEMABLE LIMITED PARTNERS' CAPITAL	(9) REDEEMABLE LIMITED PARTNERS' CAPITAL Pursuant to the terms of its limited partnership agreement in effect prior to the Reorganization and IPO, Premier LP was required to repurchase a limited partner's interest in Premier LP upon the sale of such limited partner's shares of PHSI common stock, such limited partner's withdrawal from Premier LP, or such limited partner's failure to comply with the applicable purchase commitments under the historical limited partnership agreement of Premier LP. Redeemable limited partners' capital is classified as temporary equity in the mezzanine section of the accompanying condensed consolidated balance sheets as the withdrawal is at the option of each limited partner and the conditions of the repurchase are not solely within the Company's control. Upon the consummation of the Reorganization and IPO, each limited partner's shares of PHSI were contributed for Class B common units of Premier LP. Commencing on October 31, 2014, and during each year thereafter, each limited partner has the cumulative right to exchange up to one-seventh of its initial allocation of Class B common units for shares of Class A common stock, cash or a combination of both, the form of consideration to be at the discretion of the Company's independent audit and compliance committee of the board of directors. Redeemable limited partners' capital represents the member owners' 64% ownership of Premier LP through their ownership of Class B common units at March 31, 2017 . The limited partners hold the majority of the votes of the board of directors and any redemption or transfer or choice of consideration cannot be assumed to be within the control of the Company. Therefore, redeemable limited partners' capital is recorded at the greater of the book value or redemption amount per the Amended and Restated Limited Partnership Agreement of Premier LP (as amended, the "LP Agreement"), and is calculated as the fair value of all Class B common units as if immediately exchangeable into Class A common shares. For the nine months ended March 31, 2017 and 2016 , the Company recorded decreases to fair value for the redemption amount to redeemable limited partners' capital of $296.6 million (restated) and $685.6 million , respectively. During the nine months ended March 31, 2017 , the Company recorded total reductions of $247.1 million to redeemable limited partners' capital to reflect the exchange of Class B common units and surrender of associated shares of Class B common stock by member owners for a like number of shares of the Company's Class A common stock and the exchange of Class B common units and surrender of associated shares of Class B common stock by member owners for cash all pursuant to the terms of the Exchange Agreement (see Note 11 - Earnings (Loss) Per Share ). The table below shows the changes in the redeemable limited partners' capital from June 30, 2016 to March 31, 2017 (in thousands): Receivables From Limited Partners Redeemable Limited Partners' Capital Accumulated Other Comprehensive Loss Total Redeemable Limited Partners' Capital June 30, 2016 $ (6,226 ) $ 3,143,541 $ (85 ) $ 3,137,230 Distributions applied to receivables from limited partners 1,561 — — 1,561 Redemption of limited partner — (132 ) — (132 ) Net income attributable to non-controlling interest in Premier LP (restated) — 282,207 — 282,207 Distributions to limited partners — (67,941 ) — (67,941 ) Net unrealized loss on marketable securities — — 85 85 Exchange of Class B common units for Class A common stock by member owners — (123,781 ) — (123,781 ) Exchange of Class B common units for cash by member owners — (123,330 ) — (123,330 ) Adjustment to redemption amount (restated) — (296,566 ) — (296,566 ) March 31, 2017 $ (4,665 ) $ 2,813,998 $ — $ 2,809,333 Receivables from limited partners represent amounts due from limited partners for their required capital in Premier LP. These receivables are either interest bearing notes that were issued to new limited partners or non-interest bearing loans (contribution loans) provided to existing limited partners. These receivables are reflected as a reduction to redeemable limited partners' capital so that amounts due from limited partners for capital are not reflected as redeemable limited partnership capital until paid. No interest bearing notes receivable were executed by limited partners of Premier LP during the nine months ended March 31, 2017 . During the nine months ended March 31, 2017 , one limited partner withdrew from Premier LP. The limited partnership agreement provides for the redemption of the former limited partner's Class B common units that are not eligible for exchange in the form of a five -year, unsecured, non-interest bearing term promissory note, a cash payment equal to the present value of the redemption amount, or other mutually agreed upon terms. Partnership interest obligations to the former limited partners are reflected in notes payable in the accompanying consolidated balance sheets. Under the Exchange Agreement, Class B common units that are eligible for exchange by the withdrawing limited partner must be exchanged in the next following exchange process. Since the Reorganization and IPO, Premier LP's distribution policy has required cash distributions as long as taxable income is generated and cash is available to distribute, on a quarterly basis prior to the 60 th day after the end of each calendar quarter. The Company makes quarterly distributions to its limited partners in the form of a legal partnership income distribution governed by the terms of the LP Agreement. These partner distributions are based on the limited partner's ownership in Premier LP and relative participation across Premier service offerings. While these distributions are based on relative participation across Premier service offerings, it is not based directly on revenue generated from an individual partner's participation as the distributions are based on the net income or loss of the partnership which encompass the operating expenses of the partnership as well as participation by non-owner members in Premier's service offerings. To the extent Premier LP incurred a net loss, the partners would not receive a quarterly distribution. As provided in the LP Agreement, the amount of actual cash distributed may be reduced by the amount of such distributions used by limited partners to offset contribution loans or other amounts payable to the Company. Actual and expected quarterly distributions made to limited partners during the current fiscal year are as follows (in thousands): Date Distribution (a) August 25, 2016 $ 22,493 November 23, 2016 $ 22,137 February 28, 2017 $ 22,733 May 29, 2017 (b) $ 23,071 (a) Distributions are equal to Premier LP’s total taxable income from the preceding fiscal quarter-to-date period for each respective distribution date multiplied by the Company's standalone effective combined federal, state and local income tax rate. (b) Premier LP expects to make a quarterly distribution on or before May 29, 2017. The distribution is reflected in limited partners’ distribution payable in the accompanying condensed consolidated balance sheets at March 31, 2017 .

STOCKHOLDERS' DEFICIT

STOCKHOLDERS' DEFICIT	9 Months Ended
	Mar. 31, 2017
Equity [Abstract]
STOCKHOLDERS' DEFICIT	(10) STOCKHOLDERS' DEFICIT As of March 31, 2017 , there were 50,706,518 shares of the Company's Class A common stock, par value $0.01 per share, and 88,407,103 shares of the Company's Class B common stock, par value $0.000001 per share, outstanding. Holders of Class A common stock are entitled to (i) one vote for each share held of record on all matters submitted to a vote of stockholders, (ii) receive dividends, when and if declared by the board of directors out of funds legally available, subject to any statutory or contractual restrictions on the payment of dividends and subject to any restrictions on the payment of dividends imposed by the terms of any outstanding preferred stock or any class of series of stock having a preference over or the right to participate with the Class A common stock with respect to the payment of dividends or other distributions and (iii) receive pro rata, based on the number of shares of Class A common stock held, the remaining assets available for distribution upon the dissolution or liquidation of Premier, after payment in full of all amounts required to be paid to creditors and to the holders of preferred stock having liquidation preferences, if any. Holders of Class B common stock are entitled to one vote for each share held of record on all matters submitted to a vote of stockholders and not entitled to receive dividends or to receive a distribution upon the dissolution or a liquidation of Premier, other than dividends payable in shares of Premier's common stock. Pursuant to the terms of a voting trust agreement, the trustee will vote all of the Class B common stock as a block in the manner determined by the plurality of the votes received by the trustee from the member owners for the election of directors to serve on the board of directors, and by a majority of the votes received by the trustee from the member owners for all other matters. Class B common stock will not be listed on any stock exchange and, except in connection with any permitted sale or transfer of Class B common units, cannot be sold or transferred.

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE	9 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
EARNINGS (LOSS) PER SHARE	(11) EARNINGS (LOSS) PER SHARE Basic earnings (loss) per share of Premier is computed by dividing net income attributable to stockholders by the weighted average number of shares of common stock outstanding for the period. Net income (loss) attributable to stockholders includes the adjustment recorded in the period to reflect redeemable limited partners' capital at the redemption amount, as a result of the exchange benefit obtained by limited partners through the ownership of Class B common units. Except when the effect would be anti-dilutive, the diluted earnings (loss) per share calculation, which is calculated using the treasury stock method, includes the impact of shares that could be issued under the outstanding stock options, non-vested restricted stock units and awards, shares of non-vested performance share awards and the effect of the assumed redemption of Class B common units through the issuance of Class A common shares. The following table provides a reconciliation of the numerator and denominator used for basic and diluted earnings (loss) per share (in thousands, except per share amounts): Three Months Ended March 31, Nine Months Ended March 31, 2017 2016 2017 2016 (Restated) (Restated) Numerator for basic earnings (loss) per share: Net income (loss) attributable to stockholders $ (80,601 ) $ 299,948 $ 389,976 $ 716,719 Numerator for diluted earnings (loss) per share: Net income (loss) attributable to stockholders $ (80,601 ) $ 299,948 $ 389,976 $ 716,719 Adjustment of redeemable limited partners' capital to redemption amount — (284,409 ) (296,566 ) (685,649 ) Net income attributable to non-controlling interest in Premier LP — 56,018 282,207 153,735 Net income (loss) (80,601 ) 71,557 375,617 184,805 Tax effect on Premier, Inc. net income (a) — (9,551 ) (61,303 ) (34,639 ) Adjusted net income (loss) $ (80,601 ) $ 62,006 $ 314,314 $ 150,166 Denominator for basic earnings (loss) per share: Weighted average shares (b) 50,525 44,716 49,051 41,329 Denominator for diluted earnings (loss) per share: Weighted average shares (b) 50,525 44,716 49,051 41,329 Effect of dilutive securities: (c) Stock options — 249 256 290 Restricted stock — 610 190 553 Performance share awards — 1,606 — 1,329 Class B shares outstanding — 97,837 91,875 102,057 Weighted average shares and assumed conversions 50,525 145,018 141,372 145,558 Basic earnings (loss) per share $ (1.60 ) $ 6.71 $ 7.95 $ 17.34 Diluted earnings (loss) per share $ (1.60 ) $ 0.43 $ 2.22 $ 1.03 (a) Represents income tax expense related to Premier, Inc. retaining the portion of net income attributable to income from non-controlling interest in Premier, LP for the purpose of diluted earnings (loss) per share. (b) Weighted average number of common shares used for basic earnings (loss) per share excludes weighted average shares of non-vested stock options, non-vested restricted stock, non-vested performance share awards and Class B shares outstanding for the three and nine months ended March 31, 2017 and 2016 . (c) For the three months ended March 31, 2017 , the effect of 2.8 million stock options, restricted stock units and performance share awards and 88.9 million Class B common units exchangeable for Class A common shares were excluded from diluted weighted average shares outstanding due to the net loss attributable to shareholders sustained for the quarter and as including them would have been anti-dilutive for the period. For the nine months ended March 31, 2017 , the effect of 1.8 million stock options were excluded from diluted weighted average shares outstanding as they had an anti-dilutive effect, and the effect of 0.5 million performance shares were excluded from diluted weighted average shares outstanding as they had not satisfied the applicable performance criteria at the end of the period. For the three and nine months ended March 31, 2016 , the effect of 1.4 million stock options were excluded from diluted weighted average shares outstanding as they had an anti-dilutive effect. Pursuant to the terms of the Exchange Agreement, on a quarterly basis, Premier has the option to settle the exchange of Class B common units of Premier LP by member owners for cash, an equal number of Class A common shares of Premier, Inc. or a combination of cash and shares of Class A common stock. In connection with the exchange of Class B common units by member owners, regardless of the consideration used to settle the exchange, an equal number of shares of Premier's Class B common stock are surrendered by member owners and retired (see Note 9 - Redeemable Limited Partners' Capital ). The following table presents certain information regarding the exchange of Class B common units and associated Class B common stock for Premier's Class A common stock and/or cash in connection with the quarterly exchanges pursuant to the terms of the Exchange Agreement, including activity related to the Class A and Class B common units and Class A and Class B common stock through the date of the applicable quarterly exchange: Quarterly Exchange by Member Owners Class B Common Shares Retired Upon Exchange (a) Class B Common Shares Outstanding After Exchange (a) Class A Common Shares Outstanding After Exchange Percentage of Combined Voting Power Class B/Class A Common Stock August 1, 2016 1,323,654 94,809,069 47,365,528 67%/33% October 31, 2016 (b) 5,047,528 89,761,541 50,085,904 64%/36% January 31, 2017 (b) 1,296,682 88,464,859 50,701,862 64%/36% May 1, 2017 (c) 993,194 87,298,888 51,734,785 63%/37% (a) The number of Class B common shares retired or outstanding are equivalent to the number of Class B common units retired upon exchange or outstanding after the exchange, as applicable. (b) In connection with the October 31, 2016 exchange, 3.0 million Class B common units were exchanged for cash and 2.0 million Class B common units were exchanged for Class A common stock. In connection with the January 31, 2017 exchange, 0.8 million Class B common units were exchanged for cash and 0.5 million Class B common units were exchanged for Class A common stock. (c) As the quarterly exchange occurred on May 1, 2017, the impact of the exchange is not reflected in the condensed consolidated financial statements for the quarter ended March 31, 2017 .

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
	Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK-BASED COMPENSATION	(12) STOCK-BASED COMPENSATION Stock-based compensation expense is recognized over the requisite service period, which generally equals the stated vesting period. Pre-tax stock-based compensation expense was $7.1 million and $11.8 million for the three months ended March 31, 2017 and 2016 , respectively, with a resulting deferred tax benefit of $2.7 million and $4.5 million , respectively. Pre-tax stock-based compensation expense was $19.1 million and $36.8 million for the nine months ended March 31, 2017 and 2016 , respectively, with a resulting tax benefit of $7.3 million and $14.0 million , respectively. The deferred tax benefit was calculated at a rate of 38% , which represents the expected effective income tax rate at the time of the compensation expense deduction primarily at PHSI, and differs from the Company's current effective income tax rate which includes the impact of partnership income not subject to federal and state income taxes. Premier 2013 Equity Incentive Plan The Premier 2013 Equity Incentive Plan, as amended and restated (and including any further amendments thereto, the "2013 Equity Incentive Plan"), provides for grants of up to 11.3 million shares of Class A common stock, all of which are eligible to be issued as non-qualified stock options, incentive stock options, stock appreciation rights, restricted stock, restricted stock units or performance awards. As of March 31, 2017 , there were 4.6 million shares available for grant under the 2013 Equity Incentive Plan. The following table includes information related to restricted stock, performance share awards and stock options for the nine months ended March 31, 2017 : Restricted Stock Performance Share Awards Stock Options Number of Awards Weighted Average Fair Value at Grant Date Number of Awards Weighted Average Fair Value at Grant Date Number of Options Weighted Average Exercise Price Outstanding at June 30, 2016 403,117 $ 33.86 1,443,708 $ 30.02 3,314,661 $ 30.04 Granted 265,852 $ 31.57 902,736 $ 29.72 524,709 $ 31.59 Vested/exercised (47,114 ) $ 32.83 (1,181,820 ) $ 27.00 (123,586 ) $ 27.57 Forfeited (38,980 ) $ 33.77 (74,101 ) $ 33.91 (121,811 ) $ 34.22 Outstanding at March 31, 2017 582,875 $ 32.91 1,090,523 $ 32.78 3,593,973 $ 30.21 Stock options outstanding and exercisable at March 31, 2017 2,429,376 $ 28.77 Restricted stock units and restricted stock awards issued and outstanding generally vest over a three -year period for employees and a one -year period for directors. Performance share awards issued and outstanding generally vest over three years if performance targets are met. Stock options have a term of ten years from the date of grant. Vested stock options will expire either after twelve months of an employee's termination with Premier or immediately upon an employee's termination with Premier, depending on the termination circumstances. Stock options generally vest in equal annual installments over three years. Unrecognized stock-based compensation expense at March 31, 2017 was as follows (in thousands): Unrecognized Stock-Based Compensation Expense Weighted Average Amortization Period Restricted stock $ 10,815 1.83 years Performance share awards 19,535 1.91 years Stock options 9,737 1.83 years Total unrecognized stock-based compensation expense $ 40,087 1.87 years The aggregate intrinsic value of stock options at March 31, 2017 was as follows (in thousands): Intrinsic Value of Stock Options Outstanding and exercisable $ 8,556 Expected to vest 170 Total outstanding $ 8,726 Exercised during the nine months ended March 31, 2017 $ 621 The Company estimated the fair value of each stock option on the date of grant using a Black-Scholes option-pricing model, applying the following assumptions, and amortized expense over each option's vesting period using the straight-line attribution approach: Nine Months Ended March 31, 2017 2016 Expected life (a) 6 years 6 years Expected dividend (b) — — Expected volatility (c) 32.01% - 33.00% 32.70% - 33.50% Risk-free interest rate (d) 1.31% - 2.13% 1.37% - 1.82% Weighted average option grant date fair value $10.48 - $11.28 $11.19 - $12.40 (a) The six -year expected life (estimated period of time outstanding) of stock options granted was estimated using the "Simplified Method" which utilizes the midpoint between the vesting date and the end of the contractual term. This method was utilized for the stock options due to the lack of historical exercise behavior of Premier's employees. (b) No dividends are expected to be paid over the contractual term of the stock options granted, resulting in the use of a zero expected dividend rate. (c) The expected volatility rate is based on the observed historical volatilities of comparable companies. (d) The risk-free interest rate was interpolated from the five -year and seven -year Constant Maturity Treasury rate published by the United States Treasury as of the date of the grant.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Mar. 31, 2017
Income Tax Disclosure [Abstract]
INCOME TAXES	(13) INCOME TAXES The Company's income tax expense is attributable to the activities of the Company, PHSI and PSCI, all of which are subchapter C corporations subject to U.S. federal and state income taxes. In contrast, Premier LP is not subject to federal and state income taxes as its income is taxable to its partners. For the three months ended March 31, 2017 and 2016 , the Company recorded tax expense of $7.3 million (restated) and $9.5 million , respectively, which equates to effective tax rates of 9% and 12% , respectively. The decrease in the effective tax rate is primarily attributable to a deferred tax benefit recognized in connection with an increase in income apportioned to California. For the nine months ended March 31, 2017 and 2016 , the Company recorded tax expense of $68.1 million (restated) and $41.3 million , respectively, which equates to effective tax rates of 15% and 18% , respectively. The decrease in the effective tax rate is primarily attributable to the one-time gain recognized from the remeasurement of the 50% equity method investment in Innovatix to fair value upon acquisition of Innovatix and Essensa (see Note 3 - Business Acquisitions ). The Company's effective tax rate differs from income taxes recorded at the statutory rate primarily due to partnership income not subject to federal, state and local income taxes and valuation allowances against deferred tax assets at PHSI. The Company had net deferred tax assets of $422.6 million (restated) and $422.8 million as of March 31, 2017 and June 30, 2016 , respectively. The current period balance was comprised of $468.8 million (restated) in deferred tax assets at Premier, Inc. offset by $46.1 million (restated) in deferred tax liabilities at PHSI and PSCI. During the nine months ended March 31, 2017, the Company recorded a $27.4 million deferred tax liability associated with equity earnings from PSCI attributable to the one-time gain recognized from the remeasurement of the 50% equity method investment in Innovatix to fair value upon acquisition of Innovatix and Essensa and corresponding partnership income and basis differences in Premier LP at the Company (see Note 3 - Business Acquisitions ), a $42.9 million deferred tax liability recorded upon acquisition of Innovatix primarily attributable to the excess of the financial reporting basis in the identifiable intangible assets over the tax basis, and an $18.8 million valuation allowance recorded against deferred tax assets primarily at PHSI. These decreases were partially offset by $94.6 million of deferred tax assets recorded in connection with the exchanges of Class B common units pursuant to the Exchange Agreement that occurred during the nine months ended March 31, 2017 . The Company had TRA liabilities of $347.4 million and $279.7 million at March 31, 2017 and June 30, 2016 , respectively, representing 85% of the tax savings payable to limited partners that the Company expects to receive in connection with the Section 754 election. The election results in adjustments to the tax bases of the assets of Premier LP upon member owner exchanges of Class B common units of Premier LP for Class A common stock of Premier, Inc. or cash. The $67.7 million increase was primarily attributable to $70.8 million of liabilities incurred in connection with quarterly member owner exchanges that occurred during the nine months ended March 31, 2017 .

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Mar. 31, 2017
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	(14) RELATED PARTY TRANSACTIONS GNYHA Services, Inc. ("GNYHA") and its affiliates beneficially owned approximately 9% of the outstanding partnership interests in Premier LP as of March 31, 2017 . Net administrative fees revenue based on purchases by GNYHA and its member organizations was $16.9 million and $17.0 million for the three months ended March 31, 2017 and 2016 , respectively, and $51.8 million and $49.2 million for the nine months ended March 31, 2017 and 2016 , respectively. The Company has a contractual requirement under the GPO participation agreement to pay each member owner revenue share from Premier LP equal to 30% of all gross administrative fees collected by Premier LP based upon purchasing by such member owner's facilities through Premier LP's GPO supplier contracts. As GNYHA also remits to Premier LP all gross administrative fees collected by GNYHA based on purchases by its member organizations through GNYHA's own GPO supplier contracts, it also receives revenue share from Premier LP equal to 30% of such gross administrative fees remitted to the Company. Approximately $7.2 million and $7.6 million of revenue share obligations in the accompanying condensed consolidated balance sheets relate to revenue share obligations to GNYHA and its member organizations at March 31, 2017 and June 30, 2016 , respectively. In addition, of the $23.1 million and $22.5 million limited partners' distribution payable in the accompanying condensed consolidated balance sheets at March 31, 2017 and June 30, 2016 , respectively, $2.4 million and $2.9 million were payable to GNYHA and its member organizations at March 31, 2017 and June 30, 2016 , respectively. Services and support revenue earned from GNYHA and its member organizations was $3.9 million and $3.6 million during the three months ended March 31, 2017 and 2016 , respectively, and $11.0 million and $10.0 million during the nine months ended March 31, 2017 and 2016 , respectively. Product revenue earned from, or attributable to services provided to, GNYHA and its member organizations was $4.3 million and $4.4 million during the three months ended March 31, 2017 and 2016 , respectively, and $12.3 million and $15.2 million during the nine months ended March 31, 2017 and 2016 , respectively. Receivables from GNYHA and its member organizations, included in due from related parties in the accompanying condensed consolidated balance sheets, were $4.2 million and $2.6 million at March 31, 2017 and June 30, 2016 , respectively. The Company held 50% of the membership interests in Innovatix until December 2, 2016, at which time it acquired the remaining 50% of the membership interests (see Note 3 - Business Acquisitions ). The Company's share of Innovatix's net income included in equity in net income of unconsolidated affiliates in the accompanying condensed consolidated statements of income prior to the acquisition was $6.7 million during the three months ended March 31, 2016 and $10.7 million and $16.0 million during the nine months ended March 31, 2017 and 2016 , respectively. The Company maintained a group purchasing agreement with Innovatix under which Innovatix members were permitted to utilize Premier LP's GPO supplier contracts. Gross administrative fees revenue and a corresponding revenue share recorded under the arrangement prior to the acquisition were $12.1 million for the three months ended March 31, 2016 and $19.9 million and $31.8 million during the nine months ended March 31, 2017 and 2016 , respectively. At June 30, 2016 , the Company had revenue share obligations to Innovatix of $4.2 million in the accompanying condensed consolidated balance sheets. The Company historically maintained a group purchasing agreement with GNYHA Alternate Care Purchasing Corporation ("Essensa"), under which Essensa utilized the Company's GPO supplier contracts. On December 2, 2016, the Company acquired 100% of the membership interests in Essensa (see Note 3 - Business Acquisitions ). Net administrative fees revenue recorded from Essensa prior to the acquisition was $0.7 million for the three months ended March 31, 2016 and $1.2 million and $2.0 million for the nine months ended March 31, 2017 and 2016 , respectively. At June 30, 2016, the Company had revenue share obligations to Essensa of $0.2 million . The Company's 49% ownership share of net income of FFF, which was acquired on July 26, 2016, included in equity in net income of unconsolidated affiliates in the accompanying condensed consolidated statements of income was $0.2 million and $4.4 million for the three and nine months ended March 31, 2017 , respectively. The Company maintains group purchasing agreements with FFF and receives administrative fees for purchases made by the Company's members pursuant to those agreements. Net administrative fees revenue recorded from purchases under those agreements was $1.4 million and $3.0 million during the three and nine months ended March 31, 2017 , respectively. The Company conducts all operational activities for American Excess Insurance Exchange Risk Retention Group ("AEIX"), a reciprocal risk retention group that provides excess and umbrella healthcare professional and general liability insurance to certain hospital and healthcare system members. The Company is reimbursed by AEIX for actual costs, plus an annual incentive management fee not to exceed $0.5 million per calendar year. The Company received cost reimbursement of $1.3 million and $1.1 million during the three months ended March 31, 2017 and 2016 , respectively, and $3.5 million and $3.2 million during the nine months ended March 31, 2017 and 2016 , respectively. The Company received $0.2 million and $0.1 million in annual incentive management fees during the nine months ended March 31, 2017 and 2016 . As of March 31, 2017 and June 30, 2016 , $0.8 million and $0.5 million , respectively, in amounts receivable from AEIX are included in due from related parties in the accompanying condensed consolidated balance sheets.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	(15) COMMITMENTS AND CONTINGENCIES The Company is not currently involved in any litigation it believes to be significant. The Company is periodically involved in litigation, arising in the ordinary course of business or otherwise, which from time to time may include claims relating to commercial, product liability, employment, antitrust, intellectual property, or other regulatory matters. If current or future government regulations, specifically, those with respect to antitrust or healthcare laws, are interpreted or enforced in a manner adverse to the Company or its business, the Company may be subject to enforcement actions, penalties and other material limitations which could have a material adverse effect on the Company's business, financial condition and results of operations.

SEGMENTS

SEGMENTS	9 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
SEGMENTS	(16) SEGMENTS The Company delivers its solutions and manages its business through two reportable business segments, the supply chain services segment and the performance services segment. The supply chain services segment includes the Company's GPO, integrated pharmacy offerings and direct sourcing activities. The performance services segment includes the Company's informatics, collaborative, advisory services, government services and insurance services businesses. Segment information was as follows (in thousands): Three Months Ended March 31, Nine Months Ended March 31, 2017 2016 2017 2016 Net revenue: Supply Chain Services Net administrative fees $ 143,915 $ 131,270 $ 398,962 $ 369,952 Other services and support 3,116 1,104 5,962 2,963 Services 147,031 132,374 404,924 372,915 Products 138,132 80,010 386,639 239,107 Total Supply Chain Services 285,163 212,384 791,563 612,022 Performance Services 94,640 86,285 260,012 249,151 Net revenue $ 379,803 $ 298,669 $ 1,051,575 $ 861,173 Depreciation and amortization expense (a) : Supply Chain Services $ 5,717 $ 262 $ 8,637 $ 1,138 Performance Services 21,491 20,016 63,350 55,616 Corporate 1,974 1,572 5,771 4,478 Total depreciation and amortization expense $ 29,182 $ 21,850 $ 77,758 $ 61,232 Capital expenditures: Supply Chain Services $ 198 $ 63 $ 2,347 $ 1,031 Performance Services 16,308 14,368 47,079 44,836 Corporate 1,061 1,371 2,466 8,817 Total capital expenditures $ 17,567 $ 15,802 $ 51,892 $ 54,684 March 31, 2017 June 30, 2016 Total assets: (Restated) Supply Chain Services $ 1,118,587 $ 345,219 Performance Services 901,360 934,588 Corporate 578,737 575,576 Total assets $ 2,598,684 $ 1,855,383 (a) Includes amortization of purchased intangible assets. The Company uses Segment Adjusted EBITDA (a financial measure not determined in accordance with generally accepted accounting principles ("Non-GAAP")) as its primary measure of profit or loss to assess segment performance and to determine the allocation of resources. The Company also uses Segment Adjusted EBITDA to facilitate the comparison of the segment operating performance on a consistent basis from period to period. The Company defines Segment Adjusted EBITDA as the segment's net revenue and equity in net income of unconsolidated affiliates less operating expenses directly attributable to the segment excluding depreciation and amortization, amortization of purchased intangible assets, merger and acquisition related expenses and non-recurring or non-cash items. Operating expenses directly attributable to the segment include expenses associated with sales and marketing, general and administrative and product development activities specific to the operation of each segment. Non-recurring items are income or expenses and other items that have not been earned or incurred within the prior two years and are not expected to recur within the next two years. General and administrative corporate expenses that are not specific to a particular segment are not included in the calculation of Segment Adjusted EBITDA. For more information on Segment Adjusted EBITDA and the use of Non-GAAP financial measures, see "Our Use of Non-GAAP Financial Measures" within Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations. A reconciliation of income before income taxes to Segment Adjusted EBITDA is as follows (in thousands): Three Months Ended March 31, Nine Months Ended March 31, 2017 2016 2017 2016 Income before income taxes $ 78,653 $ 81,100 $ 443,697 $ 226,062 Remeasurement gain attributable to acquisition of Innovatix, LLC — — (204,833 ) — Equity in net income of unconsolidated affiliates (a) (83 ) (6,627 ) (14,789 ) (16,002 ) Interest and investment loss, net (b) 2,017 285 3,026 981 Loss on disposal of long-lived assets 725 — 2,243 — Other expense (income), net (2,260 ) — (3,135 ) 2,081 Operating income 79,052 74,758 226,209 213,122 Depreciation and amortization 15,102 13,110 43,318 37,174 Amortization of purchased intangible assets 14,080 8,740 34,440 24,058 Stock-based compensation (c) 7,157 11,839 19,476 37,093 Acquisition related expenses 4,330 2,583 11,483 11,699 Strategic and financial restructuring expenses — 33 — 268 Adjustment to tax receivable agreement liability (d) 2,768 — (2,954 ) (4,818 ) ERP implementation expenses (e) 215 1,162 1,741 3,240 Acquisition related adjustment - revenue (f) 11,765 1,077 17,729 5,216 Equity in net income of unconsolidated affiliates (a) 83 6,627 14,789 16,002 Deferred compensation plan income (expense) (g) 1,675 — 2,778 (2,073 ) Other income 497 — 497 — Adjusted EBITDA $ 136,724 $ 119,929 $ 369,506 $ 340,981 Segment Adjusted EBITDA: Supply Chain Services $ 127,898 $ 118,704 $ 364,224 $ 329,642 Performance Services 36,535 30,771 87,449 90,158 Corporate (h) (27,709 ) (29,546 ) (82,167 ) (78,819 ) Adjusted EBITDA $ 136,724 $ 119,929 $ 369,506 $ 340,981 (a) Represents equity in net income of unconsolidated affiliates primarily generated by the Company's 49% ownership interest in FFF and 50% ownership interest in Innovatix prior to the acquisition of the remaining 50% interest on December 2, 2016. (b) Represents interest expense, net and realized gains and losses on our marketable securities. (c) In addition to non-cash employee stock-based compensation expense, includes stock purchase plan expense of $0.1 million for both the three months ended March 31, 2017 and 2016 and $0.4 million and $0.3 million for the nine months ended March 31, 2017 and 2016 , respectively. (d) Represents adjustment to tax receivable agreement liability for an increase in income apportioned to California during the three months ended March 31, 2017 and a 1% decrease in the North Carolina state income tax rate that occurred during each of the nine months ended March 31, 2017 and 2016 . (e) Represents implementation and other costs associated with the implementation of an enterprise resource planning ("ERP") system. (f) During the three and nine months ended March 31, 2017 , we recorded $11.6 million and $17.2 million purchase accounting adjustments to Adjusted EBITDA, respectively, related to our acquisition of Innovatix and Essensa in December 2016. These adjustments reflect the fair value of administrative fees related to member purchases that occurred prior to December 2, 2016, but were reported to us subsequent to that date through March 31, 2017 . Under our revenue recognition accounting policy, which is in accordance with GAAP, these administrative fees would be ordinarily recorded as revenue when reported to us; however, the acquisition method of accounting requires us to estimate the amount of purchases prior to the acquisition date and to record the fair value of the administrative fees to be received from those purchases as an account receivable (as opposed to recognizing revenue when these transactions are reported to us) and record any corresponding revenue share obligation as a liability. The purchase accounting adjustment amounted to an estimated $22.1 million of accounts receivable relating to these administrative fees and an estimated $4.0 million for the related revenue share obligation through March 31, 2017 . This item also includes non-cash adjustments to deferred revenue of acquired entities of $0.1 million and $1.1 million for the three months ended March 31, 2017 and 2016 , respectively, and $0.5 million and $5.2 million for the nine months ended March 31, 2017 and 2016 , respectively. Business combination accounting rules require the Company to record a deferred revenue liability at its fair value only if the acquired deferred revenue represents a legal performance obligation assumed by the acquirer. The fair value is based on direct and indirect incremental costs of providing the services plus a normal profit margin. Generally, this results in a reduction to the purchased deferred revenue balance, which was based on upfront fees associated with software license updates and product support contracts assumed in connection with acquisitions. Because these support contracts are typically one year in duration, our GAAP revenues for the one year period subsequent to the acquisition of a business do not reflect the full amount of support revenues on these assumed support contracts that would have otherwise been recorded by the acquired entity. The Non-GAAP adjustment to software license updates and product support revenues is intended to include, and thus reflect, the full amount of such revenues. (g) Represents realized and unrealized gains and losses and dividend income on deferred compensation plan assets. (h) Corporate consists of general and administrative corporate expenses that are not specific to either of our reporting segments.

SIGNIFICANT ACCOUNTING POLICI24

SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Company, through its wholly-owned subsidiary, Premier Services, LLC ("Premier GP"), held an approximate 36% and 32% general partner interest in Premier Healthcare Alliance, L.P. ("Premier LP") at March 31, 2017 and June 30, 2016 , respectively. Premier LP's limited partners held an approximate 64% and 68% ownership interest at March 31, 2017 and June 30, 2016 , respectively. The limited partners' interest is reflected as redeemable limited partners' capital in the Company's accompanying condensed consolidated balance sheets, and the limited partners' proportionate share of income in Premier LP is reflected within net income attributable to non-controlling interest in Premier LP in the Company's accompanying condensed consolidated statements of income and within comprehensive income attributable to non-controlling interest in Premier LP in the Company's accompanying condensed consolidated statements of comprehensive income. At March 31, 2017 and June 30, 2016 , the member owners owned approximately 64% and 68% , respectively, of the Company's combined Class A and Class B common stock (the "common stock") through their ownership of Class B common stock. During the nine months ended March 31, 2017 , the member owners exchanged 3.9 million Class B common units and associated Class B common shares for an equal number of Class A common shares, and exchanged 3.8 million Class B common units and associated Class B common shares for cash as part of their quarterly exchange rights under an exchange agreement (the "Exchange Agreement") entered into by the member owners in connection with the completion of a series of transactions (the "Reorganization") concurrent with the consummation of the Company's initial public offering (the "IPO," and together with the Reorganization, the "Reorganization and IPO") on October 1, 2013 (see Note 11 - Earnings (Loss) Per Share ). During the nine months ended March 31, 2017 , approximately 3.8 million Class B common units were retired in connection with the member owner exchange for cash and approximately 3.9 million Class B common units were contributed to Premier LP and converted to Class A common units which remain outstanding. Correspondingly, approximately 7.7 million Class B common shares were retired during the same period. Refer to the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2016 (the " 2016 Annual Report") filed with the Securities and Exchange Commission ("SEC") on August 25, 2016 for further discussion of the Exchange Agreement and Reorganization and IPO. At March 31, 2017 and June 30, 2016 , the public investors, which may include member owners that have received shares of Class A common stock in connection with previous exchanges of their Class B common units and associated Class B common shares for an equal number of Class A common shares, owned approximately 36% and 32% , respectively, of the Company's outstanding common stock through their ownership of Class A common stock. Variable Interest Entities Premier LP is a variable interest entity ("VIE") as the limited partners do not have the ability to exercise a substantive removal right with respect to the general partner. The Company does not hold a majority interest but, through Premier GP, has the exclusive power and authority to manage the business and affairs of Premier LP, to make all decisions with respect to driving the economic performance of Premier LP, and has both an obligation to absorb losses and a right to receive benefits. As such, the Company is the primary beneficiary of the VIE and consolidates the operations of Premier LP under the Variable Interest Model. See Note 2 - Significant Accounting Policies for further discussion of recently adopted accounting standards related to VIEs.
Principles of Consolidation	Principles of Consolidation The accompanying condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial information and pursuant to the rules and regulations of the SEC. Accordingly, certain information and disclosures normally included in annual financial statements have been condensed or omitted. The accompanying condensed consolidated financial statements reflect all adjustments that, in the opinion of management, are necessary for a fair presentation of results of operations and financial condition for the interim periods shown, including normal recurring adjustments. The Company believes that the disclosures are adequate to make the information presented not misleading and should be read in conjunction with the audited consolidated financial statements and related footnotes contained in the 2016 Annual Report.
Use of Estimates in the Preparation of Financial Statements	Use of Estimates in the Preparation of Financial Statements The preparation of the Company's condensed consolidated financial statements in accordance with GAAP requires management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses and related disclosure of contingent assets and liabilities. Significant estimates are evaluated on an ongoing basis, including estimates for allowances for doubtful accounts, useful lives of property and equipment, stock-based compensation, payables under tax receivable agreements, values of investments not publicly traded, the valuation allowance on deferred tax assets, uncertain income taxes, deferred revenue, future cash flows associated with asset impairments, values of put and call rights and the allocation of purchase prices. These estimates are based on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.
Recently Adopted Accounting Standards and Recently Issued Accounting Standards Not Yet Adopted	Recently Adopted Accounting Standards In March 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-09, Compensation - Stock Compensation (Topic 718), Improvements to Employee Share-Based Payment Accounting , which is intended to simplify the accounting for employee share-based payments. The amendments in this updated guidance include changes to simplify the accounting for share-based payment transactions, including the income tax consequences, classification of such share-based awards as either equity or liabilities and classification in the statement of cash flows. The Company early-adopted the standard effective July 1, 2016, using the prospective approach. Pursuant to the guidance, the Company recognized gross excess tax benefits of approximately $9.1 million ( $3.6 million tax effected) during the three months ended September 30, 2016, which were fully offset by a valuation allowance at PHSI, the Company's consolidated subsidiary. No adjustments were made to prior periods, and the impact on prior periods would have been immaterial. All excess tax benefits related to share-based awards are reported as operating activities within the accompanying condensed consolidated statement of cash flows. In addition, the Company calculated diluted earnings per share without consideration of any tax benefits in determining dilutive shares. In August 2015, the FASB issued ASU 2015-15, Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements , which clarifies the SEC staff's position in ASU 2015-03 on presenting and measuring debt issuance costs incurred in connection with line-of-credit arrangements given the lack of guidance on this topic in ASU 2015-03, Interest-Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs . ASU 2015-15 states that the SEC staff would "not object to an entity deferring and presenting debt issuance costs as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of the line-of-credit arrangement." The Company adopted the standard effective July 1, 2016 using the retrospective approach. The guidance had no impact on the Company's accounting for debt issuance costs associated with its line of credit. In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis , which effectively eliminated the presumption that a general partner should consolidate a limited partnership, modified the evaluation of whether limited partnerships and similar legal entities are VIEs or voting interest entities, and affected the consolidation analysis of reporting entities that are involved with VIEs (particularly those that have fee arrangements and related party relationships). The Company adopted the standard effective July 1, 2016 using the modified retrospective approach. The adoption of ASU 2015-02 did not impact the Company's conclusions regarding consolidation or the consolidated financial statements other than providing additional disclosures around Premier's consolidation of Premier LP. As a result of ASU 2015-02, the Company no longer consolidates Premier LP under the presumption that the general partner controls a limited partnership but rather consolidates Premier LP under the Variable Interest Model. Premier LP meets the definition of a VIE as the limited partners do not have the ability to exercise a substantive removal right with respect to the general partner, Premier GP. Additionally, the Company, through Premier GP, has the exclusive power and authority to manage the business and affairs of Premier LP, to make all decisions with respect thereto driving the economic performance of Premier LP, and has both an obligation to absorb losses and a right to receive benefits. Recently Issued Accounting Standards Not Yet Adopted In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment , which eliminates Step 2 from the goodwill impairment test. The guidance requires an entity to perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. In addition, the guidance eliminates the requirement for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment. The standard is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The new standard will be effective for the Company for the fiscal year beginning July 1, 2020. Early adoption is permitted for interim and annual goodwill impairment tests performed after January 1, 2017. The Company is currently evaluating the impact of the adoption of the new standard on its consolidated financial statements and related disclosures. In October 2016, the FASB issued ASU 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory , which removes the prohibition in ASC 740 against the immediate recognition of the current and deferred income tax effects of intra-entity transfers of assets other than inventory. The guidance is intended to reduce the complexity of GAAP and diversity in practice related to the tax consequences of certain types of intra-entity asset transfers, particularly those involving intellectual property. The standard is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The new standard will be effective for the Company for the fiscal year beginning July 1, 2018. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of the new standard on its consolidated financial statements and related disclosures. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments , which amends the guidance in ASC 230 on the classification of certain cash receipts and payments in the statement of cash flows. The primary purpose of the ASU is to reduce the diversity in practice that has resulted from the lack of consistent principles on this topic. The ASU amendments add or clarify guidance on eight cash flow issues. The standard is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The new standard will be effective for the Company for the fiscal year beginning July 1, 2018. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of the new standard on its consolidated financial statements and related disclosures. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , which is intended to increase transparency and comparability among organizations of accounting for leasing arrangements. This guidance establishes a right-of-use model that requires a lessee to record a right-of-use asset and a lease liability on the balance sheet for all leases with terms longer than twelve months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. Entities will be required to recognize and measure leases as of the earliest period presented using a modified retrospective approach. The standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The new standard will be effective for the Company for the fiscal year beginning July 1, 2019. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of the new standard on its consolidated financial statements and related disclosures. In January 2016, the FASB issued ASU 2016-01, Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities , which is intended to provide users of financial statements with more useful information on the recognition, measurement, presentation, and disclosure of financial instruments. The standard is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The new standard will be effective for the Company for the fiscal year beginning July 1, 2018. Early adoption is permitted for certain amendments. The Company is currently evaluating the impact of the adoption of the new standard on its consolidated financial statements and related disclosures. In July 2015, the FASB issued ASU 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory , which requires entities to measure most inventory "at the lower of cost and net realizable value," thereby simplifying the current guidance under which an entity must measure inventory at the lower of cost or market. This guidance will not apply to inventories that are measured by using either the last-in, first-out method or the retail inventory method. The new standard will be effective prospectively for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The new standard will be effective for the Company for the fiscal year beginning July 1, 2017. Upon transition, entities must disclose the nature of and reason for the accounting change. We do not expect the adoption of the new standard to have a material impact on our consolidated financial statements and related disclosures. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) , which will supersede nearly all existing revenue recognition guidance. The new standard requires revenue to be recognized when promised goods or services are transferred to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new standard also requires additional disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. The new standard allows for either full retrospective or modified retrospective adoption. The FASB subsequently issued an amendment in ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date , in August 2015 to defer the effective date of the new standard for all entities by one year. The new standard, as amended, will be effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption as of the original effective date for public entities will be permitted. The FASB issued another amendment in ASU 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations , in March 2016 related to a third party providing goods or services to a customer. When another party is involved in providing goods or services to a customer, an entity is required to determine whether the nature of its promise is to provide the specified good or service itself or to arrange for the good or service to be provided by a third party. If the entity provides the specific good or service itself, the entity acts as a principal. If an entity arranges for the good or service to be provided by a third party, the entity acts as an agent. The standard requires the principal to recognize revenue for the gross amount and the agent to recognize revenue for the amount of any fee or commission for which it expects to be entitled in exchange for arranging for the specified good or service to be provided. The new standard will be effective with ASU 2014-09. In April 2016, the FASB issued ASU 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing , which amends specific aspects of ASU 2014-09, including how to identify performance obligations and guidance related to licensing implementation. This amendment provides guidance on determining whether an entity's promise to grant a license provides a customer with either a right to use the entity's intellectual property or a right to access the entity's intellectual property. The amendment will be effective with ASU 2014-09. In May 2016, the FASB issued ASU 2016-12, Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients , which clarifies specific aspects of ASU 2014-09, clarifying how to identify performance obligations and guidance related to its promise in granting a license of intellectual property. This new standard provides guidance to allow entities to disregard items that are immaterial in the context of the contract, clarify when a promised good or service is separately identifiable and allow an entity to elect to account for the cost of shipping and handling performed after control of a good has been transferred to the customer as a fulfillment cost. The new standard also clarifies how an entity should evaluate the nature of its promise in granting a license of intellectual property to help determine whether it recognizes revenue over time or at a point in time and addresses how entities should consider license renewals and restrictions. The new standard will be effective with ASU 2014-09. In December 2016, the FASB issued ASU 2016-20, Technical Corrections and Improvements to Topic 606: Revenue from Contracts with Customers , which clarifies specific aspects of ASU 2014-09, including allowing entities not to make quantitative disclosures about remaining performance obligations in certain cases and requiring entities that use any of the new or previously existing optional exemptions to expand their qualitative disclosures. The new standard also makes twelve other technical corrections and modifications to ASU 2014-09. The new standard will be effective with ASU 2014-09. The new revenue recognition standards discussed above, as amended, will be effective for the Company for the fiscal year beginning July 1, 2018. The Company is currently evaluating the transition method that will be elected as well as the impact of the adoption of the new standards on its consolidated financial statements and related disclosures. Additionally, we are evaluating the potential impacts on our revenue contracts and identifying appropriate changes to our business processes, systems and controls to support revenue recognition and disclosure requirements under the new standard.

ORGANIZATION AND BASIS OF PRE25

ORGANIZATION AND BASIS OF PRESENTATION (Tables)	9 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Financial Information of Premier LP	The assets and liabilities of Premier LP at March 31, 2017 (restated) and June 30, 2016 consisted of the following (in thousands): March 31, 2017 June 30, 2016 (Restated) Assets Current $ 460,992 $ 442,251 Noncurrent 1,635,668 973,741 Total assets of Premier LP $ 2,096,660 $ 1,415,992 Liabilities Current $ 721,360 $ 312,068 Noncurrent 134,472 74,709 Total liabilities of Premier LP $ 855,832 $ 386,777 Net income attributable to Premier LP was as follows (in thousands): Three Months Ended March 31, Nine Months Ended March 31, 2017 2016 2017 2016 (Restated) (Restated) Premier LP net income $ 80,837 $ 81,846 $ 436,811 $ 217,293 Premier LP's cash flows for the nine months ended March 31, 2017 (restated) and 2016 consisted of the following (in thousands): Nine Months Ended March 31, 2017 2016 Net cash provided by (used in): Operating activities $ 320,185 $ 285,124 Investing activities (447,181 ) (161,131 ) Financing activities 121,090 (47,593 ) Net increase (decrease) in cash and cash equivalents (5,906 ) 76,400 Cash and cash equivalents at beginning of year 210,048 126,662 Cash and cash equivalents at end of period $ 204,142 $ 203,062

BUSINESS ACQUISITIONS (Tables)

BUSINESS ACQUISITIONS (Tables)	9 Months Ended
	Mar. 31, 2017
Business Combinations [Abstract]
Schedule of Preliminary Fair Values Assigned to Net Assets Acquired and Liabilities Assumed	The preliminary fair values assigned to the net assets acquired and the liabilities assumed as of the acquisition date were as follows (in thousands): Acquisition Date Fair Value (Restated) Cash paid at closing $ 227,500 Cash paid on January 10, 2017 97,500 Purchase price 325,000 Additional cash paid at closing 10,984 Adjusted purchase price 335,984 Earn-out liability 16,662 Receivable from GNYHA Holdings, LLC (3,000 ) Estimated working capital settlement 1,106 Total consideration paid 350,752 Cash acquired (16,267 ) Net consideration 334,485 50% ownership interest in Innovatix 218,044 Payable to Innovatix and Essensa (5,765 ) Enterprise value 546,764 Accounts receivable 22,261 Prepaid expenses and other current assets 686 Fixed assets, net 2,064 Intangible assets 242,906 Total assets acquired 267,917 Accrued expenses 5,264 Revenue share obligations 6,937 Other current liabilities 694 Total liabilities assumed 12,895 Deferred tax liability 42,904 Goodwill $ 334,646

INVESTMENTS (Tables)

INVESTMENTS (Tables)	9 Months Ended
	Mar. 31, 2017
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Investments in Unconsolidated Affiliates	The Company's investments in unconsolidated affiliates consisted of the following (in thousands): Carrying Value Equity in Net Income (Loss) Three Months Ended March 31, Nine Months Ended March 31, March 31, 2017 June 30, 2016 2017 2016 2017 2016 FFF Enterprises, Inc. $ 91,469 $ — $ 217 $ — $ 4,394 $ — BloodSolutions, LLC 2,091 2,185 (42 ) — (94 ) — PharmaPoint, LLC 4,318 4,572 (92 ) (108 ) (254 ) (284 ) Innovatix, LLC — 9,043 — 6,735 10,743 15,992 Other investments 1,000 1,000 — — — 294 Total investments $ 98,878 $ 16,800 $ 83 $ 6,627 $ 14,789 $ 16,002
Schedule of Marketable Securities, Classified as Available-For-Sale	At June 30, 2016 , marketable securities, classified as available-for-sale, consisted of the following (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Market Value June 30, 2016 Corporate debt securities $ 33,267 $ — $ (135 ) $ 33,132 Asset-backed securities 14,755 3 (1 ) 14,757 Total marketable securities $ 48,022 $ 3 $ (136 ) $ 47,889

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Liabilities	The following table represents the Company's financial assets and liabilities which are measured at fair value on a recurring basis (in thousands): Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) March 31, 2017 Cash equivalents $ 75,149 $ 75,149 $ — $ — FFF call right 9,936 — — 9,936 Deferred compensation plan assets 45,368 45,368 — — Total assets $ 130,453 $ 120,517 $ — $ 9,936 Earn-out liabilities $ 18,787 $ — $ — $ 18,787 FFF put right 25,482 — — 25,482 Total liabilities $ 44,269 $ — $ — $ 44,269 June 30, 2016 Cash equivalents $ 83,846 $ 83,846 $ — $ — Corporate debt securities 33,132 — 33,132 — Asset-backed securities 14,757 — 14,757 — Deferred compensation plan assets 41,917 41,917 — — Total assets $ 173,652 $ 125,763 $ 47,889 $ — Earn-out liabilities $ 4,128 $ — $ — $ 4,128 Total liabilities $ 4,128 $ — $ — $ 4,128
Reconciliation of Earn-Out Liabilities and FFF Put Rights	A reconciliation of the Company's earn-out liabilities and FFF put and call rights is as follows (in thousands): Beginning Balance Purchases Gain (Loss) Ending Balance Three months ended March 31, 2017 FFF call right asset $ 10,750 $ — $ (814 ) $ 9,936 Total Level 3 assets $ 10,750 $ — $ (814 ) $ 9,936 Earn-out liabilities $ 16,713 $ — $ (2,074 ) $ 18,787 FFF put right liability 26,384 — 902 25,482 Total Level 3 liabilities $ 43,097 $ — $ (1,172 ) $ 44,269 Three months ended March 31, 2016 Earn-out liabilities $ 4,109 $ — $ (27 ) $ 4,136 Total Level 3 liabilities $ 4,109 $ — $ (27 ) $ 4,136 Nine months ended March 31, 2017 FFF call right asset $ — $ 10,361 $ (425 ) $ 9,936 Total Level 3 assets $ — $ 10,361 $ (425 ) $ 9,936 Earn-out liabilities $ 4,128 $ 16,662 $ 2,003 $ 18,787 FFF put right liability — 25,821 339 25,482 Total Level 3 liabilities $ 4,128 $ 42,483 $ 2,342 $ 44,269 Nine months ended March 31, 2016 Earn-out liabilities $ — $ 4,109 $ (27 ) $ 4,136 Total Level 3 liabilities $ — $ 4,109 $ (27 ) $ 4,136
Reconciliation of FFF Call Rights	A reconciliation of the Company's earn-out liabilities and FFF put and call rights is as follows (in thousands): Beginning Balance Purchases Gain (Loss) Ending Balance Three months ended March 31, 2017 FFF call right asset $ 10,750 $ — $ (814 ) $ 9,936 Total Level 3 assets $ 10,750 $ — $ (814 ) $ 9,936 Earn-out liabilities $ 16,713 $ — $ (2,074 ) $ 18,787 FFF put right liability 26,384 — 902 25,482 Total Level 3 liabilities $ 43,097 $ — $ (1,172 ) $ 44,269 Three months ended March 31, 2016 Earn-out liabilities $ 4,109 $ — $ (27 ) $ 4,136 Total Level 3 liabilities $ 4,109 $ — $ (27 ) $ 4,136 Nine months ended March 31, 2017 FFF call right asset $ — $ 10,361 $ (425 ) $ 9,936 Total Level 3 assets $ — $ 10,361 $ (425 ) $ 9,936 Earn-out liabilities $ 4,128 $ 16,662 $ 2,003 $ 18,787 FFF put right liability — 25,821 339 25,482 Total Level 3 liabilities $ 4,128 $ 42,483 $ 2,342 $ 44,269 Nine months ended March 31, 2016 Earn-out liabilities $ — $ 4,109 $ (27 ) $ 4,136 Total Level 3 liabilities $ — $ 4,109 $ (27 ) $ 4,136

INTANGIBLE ASSETS, NET (Tables)

INTANGIBLE ASSETS, NET (Tables)	9 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets, Net	Intangible assets, net consisted of the following (in thousands): Useful Life March 31, 2017 June 30, 2016 Member relationships 14.7 years $ 220,100 $ — Technology 5.0 years 145,140 143,727 Customer relationships 8.3 years 48,120 48,120 Trade names 8.3 years 22,710 13,160 Distribution network 10.0 years 22,400 — Favorable lease commitments 10.1 years 11,393 — Non-compete agreements 5.9 years 8,710 4,080 Total intangible assets 478,573 209,087 Accumulated amortization (85,498 ) (50,870 ) Intangible assets, net $ 393,075 $ 158,217

GOODWILL (Tables)

GOODWILL (Tables)	9 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Goodwill consisted of the following (in thousands): Supply Chain Services Performance Services Acquisition Adjustments (b) Total June 30, 2016 $ 31,765 $ 506,197 $ — $ 537,962 Acro Pharmaceuticals (a) 39,850 — (4,109 ) 35,741 Innovatix and Essensa (restated) (a) 331,163 — 3,483 334,646 March 31, 2017 (restated) $ 402,778 $ 506,197 $ (626 ) $ 908,349 (a) See Note 3 - Business Acquisitions for more information. (b) The initial purchase price allocations for the Company's acquisitions are preliminary and subject to changes in fair value of working capital and valuation of the assets acquired and the liabilities assumed. The Acro Pharmaceuticals acquisition adjustments were related to working capital adjustments subsequent to the acquisition date which were recorded in the Supply Chain Services segment. The Innovatix and Essensa acquisition adjustments were related to working capital and intangible asset adjustments subsequent to the acquisition date which were recorded in the Supply Chain Services segment. See Note 3 - Business Acquisitions for more information.

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Long-term debt consisted of the following (in thousands): Commitment Amount Due Date March 31, 2017 June 30, 2016 Credit Facility $ 750,000 June 24, 2019 $ 367,500 $ — Notes payable $ — Various 16,138 19,342 Total debt 383,638 19,342 Less: Current portion (376,710 ) (5,484 ) Total long-term debt $ 6,928 $ 13,858

REDEEMABLE LIMITED PARTNERS' 32

REDEEMABLE LIMITED PARTNERS' CAPITAL (Tables)	9 Months Ended
	Mar. 31, 2017
Temporary Equity Disclosure [Abstract]
Changes in Redeemable Limited Partners' Capital	The table below shows the changes in the redeemable limited partners' capital from June 30, 2016 to March 31, 2017 (in thousands): Receivables From Limited Partners Redeemable Limited Partners' Capital Accumulated Other Comprehensive Loss Total Redeemable Limited Partners' Capital June 30, 2016 $ (6,226 ) $ 3,143,541 $ (85 ) $ 3,137,230 Distributions applied to receivables from limited partners 1,561 — — 1,561 Redemption of limited partner — (132 ) — (132 ) Net income attributable to non-controlling interest in Premier LP (restated) — 282,207 — 282,207 Distributions to limited partners — (67,941 ) — (67,941 ) Net unrealized loss on marketable securities — — 85 85 Exchange of Class B common units for Class A common stock by member owners — (123,781 ) — (123,781 ) Exchange of Class B common units for cash by member owners — (123,330 ) — (123,330 ) Adjustment to redemption amount (restated) — (296,566 ) — (296,566 ) March 31, 2017 $ (4,665 ) $ 2,813,998 $ — $ 2,809,333
Schedule of Quarterly Distributions to Limited Partners	Actual and expected quarterly distributions made to limited partners during the current fiscal year are as follows (in thousands): Date Distribution (a) August 25, 2016 $ 22,493 November 23, 2016 $ 22,137 February 28, 2017 $ 22,733 May 29, 2017 (b) $ 23,071 (a) Distributions are equal to Premier LP’s total taxable income from the preceding fiscal quarter-to-date period for each respective distribution date multiplied by the Company's standalone effective combined federal, state and local income tax rate. (b) Premier LP expects to make a quarterly distribution on or before May 29, 2017. The distribution is reflected in limited partners’ distribution payable in the accompanying condensed consolidated balance sheets at March 31, 2017 .

EARNINGS (LOSS) PER SHARE (Tabl

EARNINGS (LOSS) PER SHARE (Tables)	9 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Reconciliation of the Numerator and Denominator Used for Basic and Diluted Earnings (Loss) Per Share	The following table provides a reconciliation of the numerator and denominator used for basic and diluted earnings (loss) per share (in thousands, except per share amounts): Three Months Ended March 31, Nine Months Ended March 31, 2017 2016 2017 2016 (Restated) (Restated) Numerator for basic earnings (loss) per share: Net income (loss) attributable to stockholders $ (80,601 ) $ 299,948 $ 389,976 $ 716,719 Numerator for diluted earnings (loss) per share: Net income (loss) attributable to stockholders $ (80,601 ) $ 299,948 $ 389,976 $ 716,719 Adjustment of redeemable limited partners' capital to redemption amount — (284,409 ) (296,566 ) (685,649 ) Net income attributable to non-controlling interest in Premier LP — 56,018 282,207 153,735 Net income (loss) (80,601 ) 71,557 375,617 184,805 Tax effect on Premier, Inc. net income (a) — (9,551 ) (61,303 ) (34,639 ) Adjusted net income (loss) $ (80,601 ) $ 62,006 $ 314,314 $ 150,166 Denominator for basic earnings (loss) per share: Weighted average shares (b) 50,525 44,716 49,051 41,329 Denominator for diluted earnings (loss) per share: Weighted average shares (b) 50,525 44,716 49,051 41,329 Effect of dilutive securities: (c) Stock options — 249 256 290 Restricted stock — 610 190 553 Performance share awards — 1,606 — 1,329 Class B shares outstanding — 97,837 91,875 102,057 Weighted average shares and assumed conversions 50,525 145,018 141,372 145,558 Basic earnings (loss) per share $ (1.60 ) $ 6.71 $ 7.95 $ 17.34 Diluted earnings (loss) per share $ (1.60 ) $ 0.43 $ 2.22 $ 1.03 (a) Represents income tax expense related to Premier, Inc. retaining the portion of net income attributable to income from non-controlling interest in Premier, LP for the purpose of diluted earnings (loss) per share. (b) Weighted average number of common shares used for basic earnings (loss) per share excludes weighted average shares of non-vested stock options, non-vested restricted stock, non-vested performance share awards and Class B shares outstanding for the three and nine months ended March 31, 2017 and 2016 . (c) For the three months ended March 31, 2017 , the effect of 2.8 million stock options, restricted stock units and performance share awards and 88.9 million Class B common units exchangeable for Class A common shares were excluded from diluted weighted average shares outstanding due to the net loss attributable to shareholders sustained for the quarter and as including them would have been anti-dilutive for the period. For the nine months ended March 31, 2017 , the effect of 1.8 million stock options were excluded from diluted weighted average shares outstanding as they had an anti-dilutive effect, and the effect of 0.5 million performance shares were excluded from diluted weighted average shares outstanding as they had not satisfied the applicable performance criteria at the end of the period. For the three and nine months ended March 31, 2016 , the effect of 1.4 million stock options were excluded from diluted weighted average shares outstanding as they had an anti-dilutive effect.
Schedule of Exchange Agreement	The following table presents certain information regarding the exchange of Class B common units and associated Class B common stock for Premier's Class A common stock and/or cash in connection with the quarterly exchanges pursuant to the terms of the Exchange Agreement, including activity related to the Class A and Class B common units and Class A and Class B common stock through the date of the applicable quarterly exchange: Quarterly Exchange by Member Owners Class B Common Shares Retired Upon Exchange (a) Class B Common Shares Outstanding After Exchange (a) Class A Common Shares Outstanding After Exchange Percentage of Combined Voting Power Class B/Class A Common Stock August 1, 2016 1,323,654 94,809,069 47,365,528 67%/33% October 31, 2016 (b) 5,047,528 89,761,541 50,085,904 64%/36% January 31, 2017 (b) 1,296,682 88,464,859 50,701,862 64%/36% May 1, 2017 (c) 993,194 87,298,888 51,734,785 63%/37% (a) The number of Class B common shares retired or outstanding are equivalent to the number of Class B common units retired upon exchange or outstanding after the exchange, as applicable. (b) In connection with the October 31, 2016 exchange, 3.0 million Class B common units were exchanged for cash and 2.0 million Class B common units were exchanged for Class A common stock. In connection with the January 31, 2017 exchange, 0.8 million Class B common units were exchanged for cash and 0.5 million Class B common units were exchanged for Class A common stock. (c) As the quarterly exchange occurred on May 1, 2017, the impact of the exchange is not reflected in the condensed consolidated financial statements for the quarter ended March 31, 2017 .

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
	Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Information Related to Restricted Stock	The following table includes information related to restricted stock, performance share awards and stock options for the nine months ended March 31, 2017 : Restricted Stock Performance Share Awards Stock Options Number of Awards Weighted Average Fair Value at Grant Date Number of Awards Weighted Average Fair Value at Grant Date Number of Options Weighted Average Exercise Price Outstanding at June 30, 2016 403,117 $ 33.86 1,443,708 $ 30.02 3,314,661 $ 30.04 Granted 265,852 $ 31.57 902,736 $ 29.72 524,709 $ 31.59 Vested/exercised (47,114 ) $ 32.83 (1,181,820 ) $ 27.00 (123,586 ) $ 27.57 Forfeited (38,980 ) $ 33.77 (74,101 ) $ 33.91 (121,811 ) $ 34.22 Outstanding at March 31, 2017 582,875 $ 32.91 1,090,523 $ 32.78 3,593,973 $ 30.21 Stock options outstanding and exercisable at March 31, 2017 2,429,376 $ 28.77
Schedule of Information Related to Performance Share Awards	The following table includes information related to restricted stock, performance share awards and stock options for the nine months ended March 31, 2017 : Restricted Stock Performance Share Awards Stock Options Number of Awards Weighted Average Fair Value at Grant Date Number of Awards Weighted Average Fair Value at Grant Date Number of Options Weighted Average Exercise Price Outstanding at June 30, 2016 403,117 $ 33.86 1,443,708 $ 30.02 3,314,661 $ 30.04 Granted 265,852 $ 31.57 902,736 $ 29.72 524,709 $ 31.59 Vested/exercised (47,114 ) $ 32.83 (1,181,820 ) $ 27.00 (123,586 ) $ 27.57 Forfeited (38,980 ) $ 33.77 (74,101 ) $ 33.91 (121,811 ) $ 34.22 Outstanding at March 31, 2017 582,875 $ 32.91 1,090,523 $ 32.78 3,593,973 $ 30.21 Stock options outstanding and exercisable at March 31, 2017 2,429,376 $ 28.77
Schedule of Information Related to Stock Options	The following table includes information related to restricted stock, performance share awards and stock options for the nine months ended March 31, 2017 : Restricted Stock Performance Share Awards Stock Options Number of Awards Weighted Average Fair Value at Grant Date Number of Awards Weighted Average Fair Value at Grant Date Number of Options Weighted Average Exercise Price Outstanding at June 30, 2016 403,117 $ 33.86 1,443,708 $ 30.02 3,314,661 $ 30.04 Granted 265,852 $ 31.57 902,736 $ 29.72 524,709 $ 31.59 Vested/exercised (47,114 ) $ 32.83 (1,181,820 ) $ 27.00 (123,586 ) $ 27.57 Forfeited (38,980 ) $ 33.77 (74,101 ) $ 33.91 (121,811 ) $ 34.22 Outstanding at March 31, 2017 582,875 $ 32.91 1,090,523 $ 32.78 3,593,973 $ 30.21 Stock options outstanding and exercisable at March 31, 2017 2,429,376 $ 28.77
Schedule of Unrecognized Stock-Based Compensation Expense	Unrecognized stock-based compensation expense at March 31, 2017 was as follows (in thousands): Unrecognized Stock-Based Compensation Expense Weighted Average Amortization Period Restricted stock $ 10,815 1.83 years Performance share awards 19,535 1.91 years Stock options 9,737 1.83 years Total unrecognized stock-based compensation expense $ 40,087 1.87 years
Schedule of Aggregate Intrinsic Value of Stock Options	The aggregate intrinsic value of stock options at March 31, 2017 was as follows (in thousands): Intrinsic Value of Stock Options Outstanding and exercisable $ 8,556 Expected to vest 170 Total outstanding $ 8,726 Exercised during the nine months ended March 31, 2017 $ 621
Assumptions Used for Determining the Fair Value of Stock Options Granted	The Company estimated the fair value of each stock option on the date of grant using a Black-Scholes option-pricing model, applying the following assumptions, and amortized expense over each option's vesting period using the straight-line attribution approach: Nine Months Ended March 31, 2017 2016 Expected life (a) 6 years 6 years Expected dividend (b) — — Expected volatility (c) 32.01% - 33.00% 32.70% - 33.50% Risk-free interest rate (d) 1.31% - 2.13% 1.37% - 1.82% Weighted average option grant date fair value $10.48 - $11.28 $11.19 - $12.40 (a) The six -year expected life (estimated period of time outstanding) of stock options granted was estimated using the "Simplified Method" which utilizes the midpoint between the vesting date and the end of the contractual term. This method was utilized for the stock options due to the lack of historical exercise behavior of Premier's employees. (b) No dividends are expected to be paid over the contractual term of the stock options granted, resulting in the use of a zero expected dividend rate. (c) The expected volatility rate is based on the observed historical volatilities of comparable companies. (d) The risk-free interest rate was interpolated from the five -year and seven -year Constant Maturity Treasury rate published by the United States Treasury as of the date of the grant.

SEGMENTS (Tables)

SEGMENTS (Tables)	9 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Schedule of Segment Information	Segment information was as follows (in thousands): Three Months Ended March 31, Nine Months Ended March 31, 2017 2016 2017 2016 Net revenue: Supply Chain Services Net administrative fees $ 143,915 $ 131,270 $ 398,962 $ 369,952 Other services and support 3,116 1,104 5,962 2,963 Services 147,031 132,374 404,924 372,915 Products 138,132 80,010 386,639 239,107 Total Supply Chain Services 285,163 212,384 791,563 612,022 Performance Services 94,640 86,285 260,012 249,151 Net revenue $ 379,803 $ 298,669 $ 1,051,575 $ 861,173 Depreciation and amortization expense (a) : Supply Chain Services $ 5,717 $ 262 $ 8,637 $ 1,138 Performance Services 21,491 20,016 63,350 55,616 Corporate 1,974 1,572 5,771 4,478 Total depreciation and amortization expense $ 29,182 $ 21,850 $ 77,758 $ 61,232 Capital expenditures: Supply Chain Services $ 198 $ 63 $ 2,347 $ 1,031 Performance Services 16,308 14,368 47,079 44,836 Corporate 1,061 1,371 2,466 8,817 Total capital expenditures $ 17,567 $ 15,802 $ 51,892 $ 54,684 March 31, 2017 June 30, 2016 Total assets: (Restated) Supply Chain Services $ 1,118,587 $ 345,219 Performance Services 901,360 934,588 Corporate 578,737 575,576 Total assets $ 2,598,684 $ 1,855,383 (a) Includes amortization of purchased intangible assets.
Reconciliation of Income Before Income Taxes to Segment Adjusted EBITDA	A reconciliation of income before income taxes to Segment Adjusted EBITDA is as follows (in thousands): Three Months Ended March 31, Nine Months Ended March 31, 2017 2016 2017 2016 Income before income taxes $ 78,653 $ 81,100 $ 443,697 $ 226,062 Remeasurement gain attributable to acquisition of Innovatix, LLC — — (204,833 ) — Equity in net income of unconsolidated affiliates (a) (83 ) (6,627 ) (14,789 ) (16,002 ) Interest and investment loss, net (b) 2,017 285 3,026 981 Loss on disposal of long-lived assets 725 — 2,243 — Other expense (income), net (2,260 ) — (3,135 ) 2,081 Operating income 79,052 74,758 226,209 213,122 Depreciation and amortization 15,102 13,110 43,318 37,174 Amortization of purchased intangible assets 14,080 8,740 34,440 24,058 Stock-based compensation (c) 7,157 11,839 19,476 37,093 Acquisition related expenses 4,330 2,583 11,483 11,699 Strategic and financial restructuring expenses — 33 — 268 Adjustment to tax receivable agreement liability (d) 2,768 — (2,954 ) (4,818 ) ERP implementation expenses (e) 215 1,162 1,741 3,240 Acquisition related adjustment - revenue (f) 11,765 1,077 17,729 5,216 Equity in net income of unconsolidated affiliates (a) 83 6,627 14,789 16,002 Deferred compensation plan income (expense) (g) 1,675 — 2,778 (2,073 ) Other income 497 — 497 — Adjusted EBITDA $ 136,724 $ 119,929 $ 369,506 $ 340,981 Segment Adjusted EBITDA: Supply Chain Services $ 127,898 $ 118,704 $ 364,224 $ 329,642 Performance Services 36,535 30,771 87,449 90,158 Corporate (h) (27,709 ) (29,546 ) (82,167 ) (78,819 ) Adjusted EBITDA $ 136,724 $ 119,929 $ 369,506 $ 340,981 (a) Represents equity in net income of unconsolidated affiliates primarily generated by the Company's 49% ownership interest in FFF and 50% ownership interest in Innovatix prior to the acquisition of the remaining 50% interest on December 2, 2016. (b) Represents interest expense, net and realized gains and losses on our marketable securities. (c) In addition to non-cash employee stock-based compensation expense, includes stock purchase plan expense of $0.1 million for both the three months ended March 31, 2017 and 2016 and $0.4 million and $0.3 million for the nine months ended March 31, 2017 and 2016 , respectively. (d) Represents adjustment to tax receivable agreement liability for an increase in income apportioned to California during the three months ended March 31, 2017 and a 1% decrease in the North Carolina state income tax rate that occurred during each of the nine months ended March 31, 2017 and 2016 . (e) Represents implementation and other costs associated with the implementation of an enterprise resource planning ("ERP") system. (f) During the three and nine months ended March 31, 2017 , we recorded $11.6 million and $17.2 million purchase accounting adjustments to Adjusted EBITDA, respectively, related to our acquisition of Innovatix and Essensa in December 2016. These adjustments reflect the fair value of administrative fees related to member purchases that occurred prior to December 2, 2016, but were reported to us subsequent to that date through March 31, 2017 . Under our revenue recognition accounting policy, which is in accordance with GAAP, these administrative fees would be ordinarily recorded as revenue when reported to us; however, the acquisition method of accounting requires us to estimate the amount of purchases prior to the acquisition date and to record the fair value of the administrative fees to be received from those purchases as an account receivable (as opposed to recognizing revenue when these transactions are reported to us) and record any corresponding revenue share obligation as a liability. The purchase accounting adjustment amounted to an estimated $22.1 million of accounts receivable relating to these administrative fees and an estimated $4.0 million for the related revenue share obligation through March 31, 2017 . This item also includes non-cash adjustments to deferred revenue of acquired entities of $0.1 million and $1.1 million for the three months ended March 31, 2017 and 2016 , respectively, and $0.5 million and $5.2 million for the nine months ended March 31, 2017 and 2016 , respectively. Business combination accounting rules require the Company to record a deferred revenue liability at its fair value only if the acquired deferred revenue represents a legal performance obligation assumed by the acquirer. The fair value is based on direct and indirect incremental costs of providing the services plus a normal profit margin. Generally, this results in a reduction to the purchased deferred revenue balance, which was based on upfront fees associated with software license updates and product support contracts assumed in connection with acquisitions. Because these support contracts are typically one year in duration, our GAAP revenues for the one year period subsequent to the acquisition of a business do not reflect the full amount of support revenues on these assumed support contracts that would have otherwise been recorded by the acquired entity. The Non-GAAP adjustment to software license updates and product support revenues is intended to include, and thus reflect, the full amount of such revenues. (g) Represents realized and unrealized gains and losses and dividend income on deferred compensation plan assets. (h) Corporate consists of general and administrative corporate expenses that are not specific to either of our reporting segments.

ORGANIZATION AND BASIS OF PRE36

ORGANIZATION AND BASIS OF PRESENTATION - Organization (Narrative) (Details)	9 Months Ended
	Mar. 31, 2017categorysegment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of business segments | segment	2
Performance services segment
Segment Reporting Information [Line Items]
Number of main categories | category	3

ORGANIZATION AND BASIS OF PRE37

ORGANIZATION AND BASIS OF PRESENTATION - Basis of Presentation (Narrative) (Details) - shares	Jan. 31, 2017	Oct. 31, 2016	Aug. 01, 2016	Mar. 31, 2017	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General partner interest (as a percent)				36.00%	32.00%
Limited partners ownership interest (as a percent)				64.00%	68.00%
Class B common shares
Noncontrolling Interest [Line Items]
Class B common units and associated Class B common shares exchanged (in shares)	1,296,682	5,047,528	1,323,654
Shares retired (in shares)				7,700,000
Exchanged for Class A common stock | Class B common units
Noncontrolling Interest [Line Items]
Class B common units and associated Class B common shares exchanged (in shares)	500,000	2,000,000		3,900,000
Shares retired (in shares)				3,900,000
Exchanged for cash | Class B common units
Noncontrolling Interest [Line Items]
Class B common units and associated Class B common shares exchanged (in shares)	800,000	3,000,000		3,800,000
Shares retired (in shares)				3,800,000

ORGANIZATION AND BASIS OF PRE38

ORGANIZATION AND BASIS OF PRESENTATION - Schedule of Assets and Liabilities of Premier LP (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Jun. 30, 2016
Assets
Current	$ 494,256	$ 462,890
Liabilities
Current	725,907	326,063
Premier LP
Assets
Current	460,992	442,251
Noncurrent	1,635,668	973,741
Total assets of Premier LP	2,096,660	1,415,992
Liabilities
Current	721,360	312,068
Noncurrent	134,472	74,709
Total liabilities of Premier LP	$ 855,832	$ 386,777

ORGANIZATION AND BASIS OF PRE39

ORGANIZATION AND BASIS OF PRESENTATION - Schedule of Net Income Attributable to Premier LP (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Variable Interest Entity [Line Items]
Premier LP net income	$ 71,338	$ 71,557	$ 375,617	$ 184,805
Premier LP
Variable Interest Entity [Line Items]
Premier LP net income	$ 80,837	$ 81,846	$ 436,811	$ 217,293

ORGANIZATION AND BASIS OF PRE40

ORGANIZATION AND BASIS OF PRESENTATION - Schedule of Premier LP's Cash Flows (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net cash provided by (used in):
Operating activities	$ 274,211	$ 270,937
Investing activities	(447,181)	(161,131)
Financing activities	160,371	(17,944)
Net increase (decrease) in cash and cash equivalents	(12,599)	91,862
Cash and cash equivalents at beginning of year	248,817	146,522
Cash and cash equivalents at end of period	236,218	238,384
Premier LP
Net cash provided by (used in):
Operating activities	320,185	285,124
Investing activities	(447,181)	(161,131)
Financing activities	121,090	(47,593)
Net increase (decrease) in cash and cash equivalents	(5,906)	76,400
Cash and cash equivalents at beginning of year	210,048	126,662
Cash and cash equivalents at end of period	$ 204,142	$ 203,062

ORGANIZATION AND BASIS OF PRE41

ORGANIZATION AND BASIS OF PRESENTATION - Restatement of Previously Reported Financial Information (Narrative) (Details) - USD ($) $ in Thousands	Dec. 02, 2016	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Dec. 01, 2016
Error Corrections and Prior Period Adjustments Restatement [Line Items]
One-time gain related to remeasurement		$ 0	$ 0		$ 204,833	$ 0
Deferred income taxes					45,961	$ 22,345
Innovatix
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Ownership interest prior to acquisition (as a percent)							50.00%
Ownership interest acquired (as a percent)	50.00%
One-time gain related to remeasurement	$ 204,800			$ 204,800
Deferred tax liability at time of acquisition		$ 95,800			95,800
Deferred income taxes					$ 95,800

ORGANIZATION AND BASIS OF PRE42

ORGANIZATION AND BASIS OF PRESENTATION - Summary of Restatement of Previously Reported Financial Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Jun. 30, 2016
Assets
Goodwill	$ 908,349		$ 908,349		$ 537,962
Deferred income tax assets	468,760		468,760		422,849
Total assets	2,598,684		2,598,684		1,855,383
Liabilities and stockholders' deficit:
Deferred tax liabilities	46,137		46,137		0
Total liabilities	1,197,101		1,197,101		669,614
Accumulated deficit	(1,408,257)		(1,408,257)		(1,951,878)
Total stockholders' deficit	(1,407,750)		(1,407,750)		(1,951,461)
Total liabilities, redeemable limited partners' capital and stockholders' deficit	2,598,684		2,598,684		1,855,383
Condensed Consolidated Statements of Income
Income tax expense	7,315	$ 9,543	68,080	$ 41,257
Net income	71,338	71,557	375,617	184,805
Net income attributable to non-controlling interest in Premier LP	(51,433)	(56,018)	(282,207)	(153,735)
Adjustment of redeemable limited partners' capital to redemption amount	(100,506)	284,409	296,566	685,649
Net income attributable to stockholders	$ (80,601)	$ 299,948	$ 389,976	$ 716,719
Earnings Per Share, Basic and Diluted [Abstract]
Basic (in dollars per share)	$ (1.60)	$ 6.71	$ 7.95	$ 17.34
Diluted (in dollars per share)	$ (1.60)	$ 0.43	$ 2.22	$ 1.03
Condensed Consolidated Statements of Comprehensive Income
Net income	$ 71,338	$ 71,557	$ 375,617	$ 184,805
Comprehensive income attributable to non-controlling interest	(51,433)	(56,219)	(282,292)	(153,578)
Comprehensive income attributable to Premier, Inc.	19,905	$ 15,621	93,453	31,001
Condensed Consolidated Statement of Stockholders' Deficit
Adjustment of redeemable limited partners' capital to redemption amount			296,566
Accumulated deficit	(1,408,257)		(1,408,257)		(1,951,878)
Total stockholders' deficit	(1,407,750)		(1,407,750)		(1,951,461)
Condensed Consolidated Statements of Cash Flows
Deferred income taxes			45,961	$ 22,345
Previously Reported
Assets
Goodwill	865,445		865,445
Deferred income tax assets	479,241		479,241
Total assets	2,566,261		2,566,261
Liabilities and stockholders' deficit:
Deferred tax liabilities	80,422		80,422
Total liabilities	1,231,386		1,231,386
Accumulated deficit	(1,474,965)		(1,474,965)
Total stockholders' deficit	(1,474,458)		(1,474,458)
Total liabilities, redeemable limited partners' capital and stockholders' deficit	2,566,261		2,566,261
Condensed Consolidated Statements of Income
Income tax expense	6,514		134,788
Net income	72,139		308,909
Net income attributable to non-controlling interest in Premier LP	(51,965)		(232,683)
Adjustment of redeemable limited partners' capital to redemption amount	(99,974)		247,042
Net income attributable to stockholders	$ (79,800)		$ 323,268
Earnings Per Share, Basic and Diluted [Abstract]
Basic (in dollars per share)	$ (1.58)		$ 6.59
Diluted (in dollars per share)	$ (1.58)		$ 1.83
Condensed Consolidated Statements of Comprehensive Income
Net income	$ 72,139		$ 308,909
Comprehensive income attributable to non-controlling interest	(51,965)		(232,768)
Comprehensive income attributable to Premier, Inc.	20,174		76,269
Condensed Consolidated Statement of Stockholders' Deficit
Adjustment of redeemable limited partners' capital to redemption amount			247,042
Accumulated deficit	(1,474,965)		(1,474,965)
Total stockholders' deficit	(1,474,458)		(1,474,458)
Condensed Consolidated Statements of Cash Flows
Deferred income taxes			112,669
Effect of Restatement
Assets
Goodwill	42,904		42,904
Deferred income tax assets	(10,481)		(10,481)
Total assets	32,423		32,423
Liabilities and stockholders' deficit:
Deferred tax liabilities	(34,285)		(34,285)
Total liabilities	(34,285)		(34,285)
Accumulated deficit	66,708		66,708
Total stockholders' deficit	66,708		66,708
Total liabilities, redeemable limited partners' capital and stockholders' deficit	32,423		32,423
Condensed Consolidated Statements of Income
Income tax expense	801		(66,708)
Net income	(801)		66,708
Net income attributable to non-controlling interest in Premier LP	532		(49,524)
Adjustment of redeemable limited partners' capital to redemption amount	(532)		49,524
Net income attributable to stockholders	$ (801)		$ 66,708
Earnings Per Share, Basic and Diluted [Abstract]
Basic (in dollars per share)	$ (0.02)		$ 1.36
Diluted (in dollars per share)	$ (0.02)		$ 0.39
Condensed Consolidated Statements of Comprehensive Income
Net income	$ (801)		$ 66,708
Comprehensive income attributable to non-controlling interest	532		(49,524)
Comprehensive income attributable to Premier, Inc.	(269)		17,184
Condensed Consolidated Statement of Stockholders' Deficit
Adjustment of redeemable limited partners' capital to redemption amount			49,524
Accumulated deficit	66,708		66,708
Total stockholders' deficit	66,708		66,708
Condensed Consolidated Statements of Cash Flows
Deferred income taxes			(66,708)
Accumulated Deficit (Restated)
Liabilities and stockholders' deficit:
Total stockholders' deficit	(1,408,257)		(1,408,257)		(1,951,878)
Condensed Consolidated Statements of Income
Net income			375,617
Condensed Consolidated Statements of Comprehensive Income
Net income			375,617
Condensed Consolidated Statement of Stockholders' Deficit
Adjustment of redeemable limited partners' capital to redemption amount			450,211
Total stockholders' deficit	$ (1,408,257)		(1,408,257)		$ (1,951,878)
Accumulated Deficit (Restated) | Previously Reported
Condensed Consolidated Statement of Stockholders' Deficit
Adjustment of redeemable limited partners' capital to redemption amount			400,687
Accumulated Deficit (Restated) | Effect of Restatement
Condensed Consolidated Statement of Stockholders' Deficit
Adjustment of redeemable limited partners' capital to redemption amount			$ 49,524

SIGNIFICANT ACCOUNTING POLICI43

SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Millions	3 Months Ended
	Sep. 30, 2016USD ($)
Accounting Policies [Abstract]
Gross excess tax benefits fully offset by a valuation allowance	$ 9.1
Excess tax benefits, tax effected	$ 3.6

BUSINESS ACQUISITIONS - Acquisi

BUSINESS ACQUISITIONS - Acquisition of Innovatix, LLC and Essensa Ventures, LLC (Narrative) (Details) - USD ($)	Jan. 10, 2017	Dec. 02, 2016	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Dec. 01, 2016	Jun. 30, 2016
Business Acquisition [Line Items]
Transaction costs			$ 4,330,000	$ 2,583,000		$ 11,483,000	$ 11,699,000
Goodwill recognized			908,349,000			908,349,000			$ 537,962,000
Retention bonus payment (up to)		$ 3,000,000
Carrying value of ownership interest in Innovatix prior to acquisition			98,878,000			98,878,000			$ 16,800,000
One-time gain related to remeasurement			0	$ 0		204,833,000	$ 0
Innovatix
Business Acquisition [Line Items]
Ownership interest prior to acquisition (as a percent)								50.00%
Carrying value of ownership interest in Innovatix prior to acquisition								$ 13,200,000
Innovatix
Business Acquisition [Line Items]
Ownership interest prior to acquisition (as a percent)								50.00%
Ownership interest acquired (as a percent)		50.00%
Limit on purchase price adjustments (as a percent)		50.00%
Remeasured fair value under business combination accounting rules		$ 218,000,000
One-time gain related to remeasurement		$ 204,800,000			$ 204,800,000
Essensa
Business Acquisition [Line Items]
Ownership interest acquired (as a percent)		100.00%
Innovatix and Essensa
Business Acquisition [Line Items]
Total purchase price		$ 325,000,000
Cash paid at closing		227,500,000
Cash payment included in deferred purchase price	$ 97,500,000	97,500,000
Transaction costs			400,000			$ 5,100,000
Goodwill recognized		334,646,000
Selling members earn-out opportunity (up to)		43,000,000
Fair value of earn-out liability		16,662,000	$ 18,500,000
Retention bonus payment (up to)		3,000,000
Remeasured fair value under business combination accounting rules		$ 218,044,000

BUSINESS ACQUISITIONS - Schedul

BUSINESS ACQUISITIONS - Schedule of Preliminary Fair Values Assigned to Net Assets Acquired and Liabilities Assumed (Details) - USD ($)	Jan. 10, 2017	Dec. 02, 2016	Mar. 31, 2017	Mar. 31, 2017	Mar. 31, 2016	Jun. 30, 2016
Business Acquisition [Line Items]
Receivable from GNYHA Holdings, LLC		$ (3,000,000)
Net consideration				$ 0	$ 398,261,000
Revenue share obligations			$ 70,396,000	70,396,000		$ 63,603,000
Goodwill			908,349,000	$ 908,349,000		$ 537,962,000
Innovatix and Essensa
Business Acquisition [Line Items]
Cash paid at closing		227,500,000
Cash paid on January 10, 2017	$ 97,500,000	97,500,000
Purchase price		325,000,000
Additional cash paid at closing		10,984,000
Adjusted purchase price		335,984,000
Earn-out liability		16,662,000	$ 18,500,000
Receivable from GNYHA Holdings, LLC		(3,000,000)
Estimated working capital settlement		1,106,000
Total consideration paid		350,752,000
Cash acquired		(16,267,000)
Net consideration		334,485,000
50% ownership interest in Innovatix		218,044,000
Payable to Innovatix and Essensa		(5,765,000)
Enterprise value		546,764,000
Accounts receivable		22,261,000
Prepaid expenses and other current assets		686,000
Fixed assets, net		2,064,000
Intangible assets		242,906,000
Total assets acquired		267,917,000
Accrued expenses		5,264,000
Revenue share obligations		6,937,000
Other current liabilities		694,000
Total liabilities assumed		12,895,000
Deferred tax liability		42,904,000
Goodwill		$ 334,646,000

BUSINESS ACQUISITIONS - Acqui46

BUSINESS ACQUISITIONS - Acquisition of Acro Pharmaceutical Services LLC and Community Pharmacy Services, LLC (Narrative) (Details) - USD ($) $ in Thousands	Aug. 23, 2016	Mar. 31, 2017	Jun. 30, 2016
Business Acquisition [Line Items]
Goodwill recognized		$ 908,349	$ 537,962
Acro Pharmaceuticals
Business Acquisition [Line Items]
Membership interest acquired (as a percent)	100.00%
Cash purchase price	$ 75,000
Goodwill recognized	$ 35,700

INVESTMENTS - Schedule of Inves

INVESTMENTS - Schedule of Investments in Unconsolidated Affiliates (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Jun. 30, 2016
Schedule of Equity Method Investments [Line Items]
Carrying Value	$ 98,878		$ 98,878		$ 16,800
Equity in Net Income (Loss)	83	$ 6,627	14,789	$ 16,002
FFF Enterprises, Inc.
Schedule of Equity Method Investments [Line Items]
Carrying Value	91,469		91,469		0
Equity in Net Income (Loss)	217	0	4,394	0
BloodSolutions, LLC
Schedule of Equity Method Investments [Line Items]
Carrying Value	2,091		2,091		2,185
Equity in Net Income (Loss)	(42)	0	(94)	0
PharmaPoint, LLC
Schedule of Equity Method Investments [Line Items]
Carrying Value	4,318		4,318		4,572
Equity in Net Income (Loss)	(92)	(108)	(254)	(284)
Innovatix, LLC
Schedule of Equity Method Investments [Line Items]
Carrying Value	0		0		9,043
Equity in Net Income (Loss)	0	6,735	10,743	15,992
Other investments
Schedule of Equity Method Investments [Line Items]
Carrying Value	1,000		1,000		$ 1,000
Equity in Net Income (Loss)	$ 0	$ 0	$ 0	$ 294

INVESTMENTS - Narrative (Detail

INVESTMENTS - Narrative (Details) - USD ($) $ in Thousands, shares in Millions	Dec. 02, 2016	Jul. 26, 2016	Jan. 28, 2016	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Jun. 30, 2016	Dec. 01, 2016
Schedule of Equity Method Investments [Line Items]
One-time gain related to remeasurement				$ 0	$ 0		$ 204,833	$ 0
Innovatix
Schedule of Equity Method Investments [Line Items]
Equity method investment (as a percent)										50.00%
Ownership interest acquired (as a percent)	50.00%
One-time gain related to remeasurement	$ 204,800					$ 204,800
PSCI | FFF
Schedule of Equity Method Investments [Line Items]
Ownership interest through subsidiary (as a percent)		49.00%
Cash portion of acquisition price		$ 65,700
Initial investment		87,100
Consideration in the form of net fair value of put and call rights		15,400
Deferred taxes attributed to fair value of put and call rights		$ 6,000
PSCI | Class B Membership Interests | Bloodbuy
Schedule of Equity Method Investments [Line Items]
Ownership interest through subsidiary (as a percent)			15.00%
Membership units (in shares)			5.3
Value of membership units			$ 2,300
PSCI | Class B Membership Interests | PharmaPoint
Schedule of Equity Method Investments [Line Items]
Ownership interest through subsidiary (as a percent)							28.00%		28.00%
Membership units (in shares)				5			5		5
PSCI | Class B Membership Interests | Nations Pharmaceuticals, LLC
Schedule of Equity Method Investments [Line Items]
Ownership interest through subsidiary (as a percent)							72.00%
PSCI | Class A Membership Interests | Nations Pharmaceuticals, LLC
Schedule of Equity Method Investments [Line Items]
Membership units (in shares)				13			13

INVESTMENTS - Schedule of Marke

INVESTMENTS - Schedule of Marketable Securities, Classified as Available-For-Sale (Details) $ in Thousands	Jun. 30, 2016USD ($)
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 48,022
Gross Unrealized Gains	3
Gross Unrealized Losses	(136)
Fair Market Value	47,889
Corporate debt securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	33,267
Gross Unrealized Gains	0
Gross Unrealized Losses	(135)
Fair Market Value	33,132
Asset-backed securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	14,755
Gross Unrealized Gains	3
Gross Unrealized Losses	(1)
Fair Market Value	$ 14,757

FAIR VALUE MEASUREMENTS - Sched

FAIR VALUE MEASUREMENTS - Schedule of Financial Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Jun. 30, 2016
Assets
Securities		$ 47,889
Corporate debt securities
Assets
Securities		33,132
Asset-backed securities
Assets
Securities		14,757
Recurring
Assets
Cash equivalents	$ 75,149	83,846
Deferred compensation plan assets	45,368	41,917
Total assets	130,453	173,652
Liabilities
Total liabilities	44,269	4,128
Recurring | Earn-out liabilities
Liabilities
Earn-out liabilities	18,787	4,128
Recurring | Corporate debt securities
Assets
Securities		33,132
Recurring | Asset-backed securities
Assets
Securities		14,757
Recurring | FFF
Assets
FFF call right	9,936
Liabilities
FFF put right	25,482
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets
Cash equivalents	75,149	83,846
Deferred compensation plan assets	45,368	41,917
Total assets	120,517	125,763
Liabilities
Total liabilities	0	0
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Earn-out liabilities
Liabilities
Earn-out liabilities	0	0
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate debt securities
Assets
Securities		0
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Asset-backed securities
Assets
Securities		0
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | FFF
Assets
FFF call right	0
Liabilities
FFF put right	0
Recurring | Significant Other Observable Inputs (Level 2)
Assets
Cash equivalents	0	0
Deferred compensation plan assets	0	0
Total assets	0	47,889
Liabilities
Total liabilities	0	0
Recurring | Significant Other Observable Inputs (Level 2) | Earn-out liabilities
Liabilities
Earn-out liabilities	0	0
Recurring | Significant Other Observable Inputs (Level 2) | Corporate debt securities
Assets
Securities		33,132
Recurring | Significant Other Observable Inputs (Level 2) | Asset-backed securities
Assets
Securities		14,757
Recurring | Significant Other Observable Inputs (Level 2) | FFF
Assets
FFF call right	0
Liabilities
FFF put right	0
Recurring | Significant Unobservable Inputs (Level 3)
Assets
Cash equivalents	0	0
Deferred compensation plan assets	0	0
Total assets	9,936	0
Liabilities
Total liabilities	44,269	4,128
Recurring | Significant Unobservable Inputs (Level 3) | Earn-out liabilities
Liabilities
Earn-out liabilities	18,787	4,128
Recurring | Significant Unobservable Inputs (Level 3) | Corporate debt securities
Assets
Securities		0
Recurring | Significant Unobservable Inputs (Level 3) | Asset-backed securities
Assets
Securities		$ 0
Recurring | Significant Unobservable Inputs (Level 3) | FFF
Assets
FFF call right	9,936
Liabilities
FFF put right	$ 25,482

FAIR VALUE MEASUREMENTS - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($) $ in Thousands	Dec. 02, 2016	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Dec. 01, 2016	Jun. 30, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current portion of deferred compensation plan assets		$ 39,875			$ 39,875			$ 39,965
One-time gain related to remeasurement		0	$ 0		204,833	$ 0
Level 1 | Prepaid expenses and other current assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current portion of deferred compensation plan assets		5,500			5,500			2,000
Nonrecurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable, difference between fair value and carrying value		$ 600			$ 600			$ 700
Notes payable | Nonrecurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assumed market interest rate		2.60%			2.60%			2.10%
FFF call right
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Call right, exercisable term					180 days
Innovatix
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
One-time gain related to remeasurement	$ 204,800			$ 204,800
Equity method investment (as a percent)							50.00%
Earn-out liabilities | Level 3 | Current portion of earn-out liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair values of earn-out liabilities		$ 18,500			$ 18,500			$ 500
Earn-out liabilities | Level 3 | Long-term portion of earn-out liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair values of earn-out liabilities		$ 300			$ 300			$ 3,700

FAIR VALUE MEASUREMENTS - Recon

FAIR VALUE MEASUREMENTS - Reconciliation of Earn-Out Liabilities and FFF Put and Call Rights (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Beginning Balance	$ 10,750		$ 0
Purchases	0		10,361
Gain (Loss)	(814)		(425)
Ending Balance	9,936		9,936
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Beginning Balance	43,097	$ 4,109	4,128	$ 0
Purchases	0	0	42,483	4,109
Gain (Loss)	(1,172)	(27)	2,342	(27)
Ending Balance	44,269	4,136	44,269	4,136
Earn-out liabilities
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Beginning Balance	16,713	4,109	4,128	0
Purchases	0	0	16,662	4,109
Gain (Loss)	(2,074)	(27)	2,003	(27)
Ending Balance	18,787	$ 4,136	18,787	$ 4,136
FFF put right liability
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Beginning Balance	26,384		0
Purchases	0		25,821
Gain (Loss)	902		339
Ending Balance	25,482		25,482
FFF call right asset
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Beginning Balance	10,750		0
Purchases	0		10,361
Gain (Loss)	(814)		(425)
Ending Balance	$ 9,936		$ 9,936

INTANGIBLE ASSETS, NET - Schedu

INTANGIBLE ASSETS, NET - Schedule of Intangible Assets, Net (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2017	Jun. 30, 2016
Finite-Lived Intangible Assets [Line Items]
Total intangible assets	$ 478,573	$ 209,087
Accumulated amortization	(85,498)	(50,870)
Intangible assets, net	$ 393,075	158,217
Member relationships
Finite-Lived Intangible Assets [Line Items]
Useful Life	14 years 8 months
Total intangible assets	$ 220,100	0
Technology
Finite-Lived Intangible Assets [Line Items]
Useful Life	5 years
Total intangible assets	$ 145,140	143,727
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Useful Life	8 years 4 months
Total intangible assets	$ 48,120	48,120
Trade names
Finite-Lived Intangible Assets [Line Items]
Useful Life	8 years 4 months
Total intangible assets	$ 22,710	13,160
Distribution network
Finite-Lived Intangible Assets [Line Items]
Useful Life	10 years
Total intangible assets	$ 22,400	0
Favorable lease commitments
Finite-Lived Intangible Assets [Line Items]
Useful Life	10 years 1 month
Total intangible assets	$ 11,393	0
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Useful Life	5 years 11 months
Total intangible assets	$ 8,710	$ 4,080

INTANGIBLE ASSETS, NET - Narrat

INTANGIBLE ASSETS, NET - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible asset amortization	$ 14,080	$ 8,740	$ 34,440	$ 24,058

GOODWILL (Details)

GOODWILL (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Mar. 31, 2017	Jun. 30, 2016
Goodwill
Beginning balance	$ 537,962
Acquisition Adjustments	(626)	$ 0
Ending balance	908,349	537,962
Supply Chain Services
Goodwill
Beginning balance	31,765
Ending balance	402,778	31,765
Performance Services
Goodwill
Beginning balance	506,197
Ending balance	506,197	$ 506,197
Acro Pharmaceuticals
Goodwill
Goodwill, acquired during the period	35,741
Acquisition Adjustments	(4,109)
Acro Pharmaceuticals | Supply Chain Services
Goodwill
Goodwill, acquired during the period	39,850
Acro Pharmaceuticals | Performance Services
Goodwill
Goodwill, acquired during the period	0
Innovatix and Essensa
Goodwill
Goodwill, acquired during the period	334,646
Acquisition Adjustments	3,483
Innovatix and Essensa | Supply Chain Services
Goodwill
Goodwill, acquired during the period	331,163
Innovatix and Essensa | Performance Services
Goodwill
Goodwill, acquired during the period	$ 0

DEBT - Schedule of Long-Term De

DEBT - Schedule of Long-Term Debt (Details) - USD ($)	Mar. 31, 2017	Jun. 30, 2016
Debt Instrument [Line Items]
Total debt	$ 383,638,000	$ 19,342,000
Less: Current portion	(376,710,000)	(5,484,000)
Total long-term debt	6,928,000	13,858,000
Credit Facility
Debt Instrument [Line Items]
Commitment Amount	750,000,000
Total debt	367,500,000	0
Notes payable
Debt Instrument [Line Items]
Total debt	$ 16,138,000	$ 19,342,000

DEBT - Credit Facility (Narrati

DEBT - Credit Facility (Narrative) (Details)	Apr. 10, 2017USD ($)	Dec. 02, 2016USD ($)	Oct. 31, 2016USD ($)	Jun. 04, 2015USD ($)	Mar. 31, 2017USD ($)	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)
Line of Credit Facility [Line Items]
Draws on the Credit Facility						$ 425,000,000	$ 150,000,000
Repaid borrowings under the Credit Facility						$ 57,500,000	$ 100,000,000
Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity				$ 750,000,000
Additional borrowing capacity				$ 250,000,000
Commitment fee (as a percent)						0.125%
Maximum total leverage ratio				3
Maximum consecutive period for total leverage ratio to exceed limit				12 months
Minimum consolidated interest coverage ratio				3
Indebtedness or guarantee threshold				$ 30,000,000
Judgment default threshold				$ 30,000,000
Draws on the Credit Facility			$ 50,000,000			$ 425,000,000
Repaid borrowings under the Credit Facility					$ 57,500,000
Credit Facility | Minimum
Line of Credit Facility [Line Items]
Contractual commitment fee on daily unused amount (as a percent)				0.125%
Credit Facility | Maximum
Line of Credit Facility [Line Items]
Contractual commitment fee on daily unused amount (as a percent)				0.25%
Credit Facility | Base Rate Loans | Federal funds effective rate
Line of Credit Facility [Line Items]
Basis spread on variable rate				0.50%
Credit Facility | Base Rate Loans | LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate				1.00%
Credit Facility | Base Rate Loans | Applicable Rate | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate				0.125%
Credit Facility | Base Rate Loans | Applicable Rate | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate				0.75%
Credit Facility | Base Rate Loans | Three-month Eurodollar
Line of Credit Facility [Line Items]
Interest rate					4.125%	4.125%
Credit Facility | Eurodollar Loans | Applicable Rate | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate				1.125%
Credit Facility | Eurodollar Loans | Applicable Rate | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate				1.75%
Credit Facility | Eurodollar Loans | Three-month Eurodollar
Line of Credit Facility [Line Items]
Interest rate					2.275%	2.275%
Standby letters of credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity				$ 25,000,000
Swingline loans
Line of Credit Facility [Line Items]
Maximum borrowing capacity				$ 75,000,000
Innovatix and Essensa | Credit Facility
Line of Credit Facility [Line Items]
Draws on the Credit Facility		$ 325,000,000
Subsequent Event | Credit Facility
Line of Credit Facility [Line Items]
Repaid borrowings under the Credit Facility	$ 97,500,000

DEBT - Notes Payable (Narrative

DEBT - Notes Payable (Narrative) (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2017	Jun. 30, 2016
Debt Disclosure [Abstract]
Notes payable	$ 16,100	$ 19,300
Notes payable included in current portion of long-term debt	9,200	5,500
Notes payable included in long-term debt, less current portion	$ 6,928	$ 13,858
Notes payable
Debt Instrument [Line Items]
Notes payable, stated maturity period	5 years

REDEEMABLE LIMITED PARTNERS' 59

REDEEMABLE LIMITED PARTNERS' CAPITAL - Narrative (Details) $ in Thousands	9 Months Ended		12 Months Ended
	Mar. 31, 2017USD ($)notes_receivablelimited_partner	Mar. 31, 2016USD ($)	Jun. 30, 2016	Oct. 31, 2014
Temporary Equity Disclosure [Abstract]
Maximum exchange amount (as a percent)				14.29%
Limited partners ownership (as a percent)	64.00%		68.00%
Temporary Equity [Line Items]
Total reductions to redeemable limited partners' capital	$ 0
Limited partner
Temporary Equity [Line Items]
Decrease to fair value for the redemption amount	$ 296,566
Number of interest bearing notes receivable executed | notes_receivable	0
Number of limited partners withdrawing from partnership | limited_partner	1
Redeemable limited partners' capital | Limited partner
Temporary Equity [Line Items]
Decrease to fair value for the redemption amount	$ 296,566	$ 685,600
Total reductions to redeemable limited partners' capital	$ 247,100
Promissory note
Temporary Equity [Line Items]
Promissory note for which common units are not eligible for exchange, term	5 years
Five-year, unsecured, non-interest bearing term promissory note | Promissory note
Temporary Equity [Line Items]
Promissory note for which common units are not eligible for exchange, term	5 years

REDEEMABLE LIMITED PARTNERS' 60

REDEEMABLE LIMITED PARTNERS' CAPITAL - Changes in Redeemable Limited Partners' Capital (Details) - USD ($) $ in Thousands	Feb. 28, 2017	Nov. 23, 2016	Aug. 25, 2016	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Increase (Decrease) in Temporary Equity
June 30, 2016						$ 3,137,230
Net unrealized loss on marketable securities				$ 0	$ 283	128	$ (226)
Exchange of Class B common units for Class A common stock by member owners						(123,781)
Exchange of Class B common units for cash by member owners						0
March 31, 2017				2,809,333		2,809,333
Limited Partner
Increase (Decrease) in Temporary Equity
June 30, 2016						3,137,230
Distributions applied to receivables from limited partners						1,561
Redemption of limited partner						(132)
Net income attributable to non-controlling interest in Premier LP (restated)						282,207
Distributions to limited partners	$ (22,733)	$ (22,137)	$ (22,493)			(67,941)
Net unrealized loss on marketable securities						85
Exchange of Class B common units for Class A common stock by member owners						(123,781)
Exchange of Class B common units for cash by member owners						(123,330)
Adjustment to redemption amount						(296,566)
March 31, 2017				2,809,333		2,809,333
Limited Partner | Receivables From Limited Partners
Increase (Decrease) in Temporary Equity
June 30, 2016						(6,226)
Distributions applied to receivables from limited partners						1,561
March 31, 2017				(4,665)		(4,665)
Limited Partner | Redeemable Limited Partners' Capital
Increase (Decrease) in Temporary Equity
June 30, 2016						3,143,541
Redemption of limited partner						(132)
Net income attributable to non-controlling interest in Premier LP (restated)						282,207
Distributions to limited partners						(67,941)
Exchange of Class B common units for Class A common stock by member owners						(123,781)
Exchange of Class B common units for cash by member owners						(123,330)
Adjustment to redemption amount						(296,566)	$ (685,600)
March 31, 2017				2,813,998		2,813,998
Limited Partner | Accumulated Other Comprehensive Loss
Increase (Decrease) in Temporary Equity
June 30, 2016						(85)
Net unrealized loss on marketable securities						85
March 31, 2017				$ 0		$ 0

REDEEMABLE LIMITED PARTNERS' 61

REDEEMABLE LIMITED PARTNERS' CAPITAL - Schedule of Quarterly Distributions to Limited Partners (Details) - Limited Partner - USD ($) $ in Thousands	May 29, 2017	Feb. 28, 2017	Nov. 23, 2016	Aug. 25, 2016	Mar. 31, 2017
Limited Partners' Capital Account [Line Items]
Distribution		$ 22,733	$ 22,137	$ 22,493	$ 67,941
Scenario, Forecast
Limited Partners' Capital Account [Line Items]
Distribution	$ 23,071

STOCKHOLDERS' DEFICIT (Details)

STOCKHOLDERS' DEFICIT (Details)	9 Months Ended
	Mar. 31, 2017$ / sharesshares	Jun. 30, 2016$ / sharesshares
Class A Common Stock
Class of Stock [Line Items]
Common stock, shares outstanding | shares	50,706,518	45,995,528
Common stock, par value (in dollars per share) | $ / shares	$ 0.01	$ 0.01
Voting rights, ratio of votes to shares held	1
Class B Common Stock
Class of Stock [Line Items]
Common stock, shares outstanding | shares	88,407,103	96,132,723
Common stock, par value (in dollars per share) | $ / shares	$ 0.000001	$ 0.000001
Voting rights, ratio of votes to shares held	1

EARNINGS (LOSS) PER SHARE - Rec

EARNINGS (LOSS) PER SHARE - Reconciliation of the Numerator and Denominator Used for Basic and Diluted Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Numerator for basic earnings (loss) per share:
Net income (loss) attributable to stockholders	$ (80,601)	$ 299,948	$ 389,976	$ 716,719
Numerator for diluted earnings (loss) per share:
Net income (loss) attributable to stockholders	(80,601)	299,948	389,976	716,719
Adjustment of redeemable limited partners' capital to redemption amount	100,506	(284,409)	(296,566)	(685,649)
Net income attributable to non-controlling interest in Premier LP	51,433	56,018	282,207	153,735
Net income (loss)	71,338	71,557	375,617	184,805
Tax effect on Premier, Inc. net income		(9,551)	(61,303)	(34,639)
Adjusted net income (loss)	$ (80,601)	$ 62,006	$ 314,314	$ 150,166
Denominator for basic earnings (loss) per share:
Weighted average shares (in shares)	50,525	44,716	49,051	41,329
Denominator for diluted earnings (loss) per share:
Weighted average shares (in shares)	50,525	44,716	49,051	41,329
Effect of dilutive securities:
Weighted average shares and assumed conversions (in shares)	50,525	145,018	141,372	145,558
Basic earnings (loss) per share (in dollars per share)	$ (1.60)	$ 6.71	$ 7.95	$ 17.34
Diluted earnings (loss) per share (in dollars per share)	$ (1.60)	$ 0.43	$ 2.22	$ 1.03
Antidilutive securities excluded from computation of earnings per share (in shares)	2,800		1,800
Class B common units exchangeable for Class A common shares | Limited Partner | Redeemable Limited Partners' Capital
Effect of dilutive securities:
Antidilutive securities excluded from computation of earnings per share (in shares)	88,900
Common Stock | Class B Common Stock
Effect of dilutive securities:
Effect of dilutive securities (in shares)	0	97,837	91,875	102,057
Stock options
Effect of dilutive securities:
Effect of dilutive securities (in shares)	0	249	256	290
Antidilutive securities excluded from computation of earnings per share (in shares)		1,400		1,400
Restricted stock
Effect of dilutive securities:
Effect of dilutive securities (in shares)	0	610	190	553
Performance share awards
Effect of dilutive securities:
Effect of dilutive securities (in shares)	0	1,606	0	1,329
Antidilutive securities excluded from computation of earnings per share (in shares)			500

EARNINGS (LOSS) PER SHARE - Sch

EARNINGS (LOSS) PER SHARE - Schedule of Exchange Agreement (Details) - shares	May 01, 2017	Jan. 31, 2017	Oct. 31, 2016	Aug. 01, 2016	Mar. 31, 2017
Class B Common Shares
Conversion of Stock [Line Items]
Class B Common Shares Retired Upon Exchange (in shares)		1,296,682	5,047,528	1,323,654
Shares Outstanding After Exchange (in shares)		88,464,859	89,761,541	94,809,069
Percentage of Combined Voting Power Class B/Class A Common Stock		64.00%	64.00%	67.00%
Class B Common Shares | Subsequent Event
Conversion of Stock [Line Items]
Class B Common Shares Retired Upon Exchange (in shares)	993,194
Shares Outstanding After Exchange (in shares)	87,298,888
Percentage of Combined Voting Power Class B/Class A Common Stock	63.00%
Class A Common Shares
Conversion of Stock [Line Items]
Shares Outstanding After Exchange (in shares)		50,701,862	50,085,904	47,365,528
Percentage of Combined Voting Power Class B/Class A Common Stock		36.00%	36.00%	33.00%
Class A Common Shares | Subsequent Event
Conversion of Stock [Line Items]
Shares Outstanding After Exchange (in shares)	51,734,785
Percentage of Combined Voting Power Class B/Class A Common Stock	37.00%
Class B common units | Exchanged for cash
Conversion of Stock [Line Items]
Class B Common Shares Retired Upon Exchange (in shares)		800,000	3,000,000		3,800,000
Class B common units | Exchanged for Class A common stock
Conversion of Stock [Line Items]
Class B Common Shares Retired Upon Exchange (in shares)		500,000	2,000,000		3,900,000

STOCK-BASED COMPENSATION - Narr

STOCK-BASED COMPENSATION - Narrative (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Pre-tax stock-based compensation expense	$ 7.1	$ 11.8	$ 19.1	$ 36.8
Deferred tax benefit	$ 2.7	$ 4.5	$ 7.3	$ 14
Expected effective income tax rate			38.00%	38.00%
2013 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of awards authorized for grant (up to) (in shares)	11.3		11.3
Number of shares available for grant	4.6		4.6
Restricted stock | Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			3 years
Restricted stock | Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			1 year
Performance share awards | 2013 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			3 years
Stock options | 2013 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			3 years
Award term			10 years
Options, expiration period			12 months
Year One | Stock options | 2013 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights (as a percent)			33.33%
Year Two | Stock options | 2013 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights (as a percent)			33.33%
Year Three | Stock options | 2013 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights (as a percent)			33.33%

STOCK-BASED COMPENSATION - Sche

STOCK-BASED COMPENSATION - Schedule of Information Related to Restricted Stock, Performance Share Awards and Stock Options (Details) - 2013 Equity Incentive Plan	9 Months Ended
	Mar. 31, 2017$ / sharesshares
Number of Options
Outstanding, beginning balance (in shares) | shares	3,314,661
Granted (in shares) | shares	524,709
Vested/exercised (in shares) | shares	(123,586)
Forfeited (in shares) | shares	(121,811)
Outstanding, ending balance (in shares) | shares	3,593,973
Stock options outstanding and exercisable (in shares) | shares	2,429,376
Weighted Average Exercise Price
Outstanding, beginning balance (in dollars per share) | $ / shares	$ 30.04
Granted (in dollars per share) | $ / shares	31.59
Vested/exercised (in dollars per share) | $ / shares	27.57
Forfeited (in dollars per share) | $ / shares	34.22
Outstanding, ending balance (in dollars per share) | $ / shares	30.21
Stock options outstanding and exercisable (in dollars per share) | $ / shares	$ 28.77
Restricted Stock
Number of Awards
Outstanding, beginning balance (in shares) | shares	403,117
Granted (in shares) | shares	265,852
Vested/exercised (in shares) | shares	(47,114)
Forfeited (in shares) | shares	(38,980)
Outstanding, ending balance (in shares) | shares	582,875
Weighted Average Fair Value at Grant Date
Outstanding, beginning balance (in dollars per share) | $ / shares	$ 33.86
Granted (in dollars per share) | $ / shares	31.57
Vested/exercised (in dollars per share) | $ / shares	32.83
Forfeited (in dollars per share) | $ / shares	33.77
Outstanding, ending balance (in dollars per share) | $ / shares	$ 32.91
Performance Share Awards
Number of Awards
Outstanding, beginning balance (in shares) | shares	1,443,708
Granted (in shares) | shares	902,736
Vested/exercised (in shares) | shares	(1,181,820)
Forfeited (in shares) | shares	(74,101)
Outstanding, ending balance (in shares) | shares	1,090,523
Weighted Average Fair Value at Grant Date
Outstanding, beginning balance (in dollars per share) | $ / shares	$ 30.02
Granted (in dollars per share) | $ / shares	29.72
Vested/exercised (in dollars per share) | $ / shares	27
Forfeited (in dollars per share) | $ / shares	33.91
Outstanding, ending balance (in dollars per share) | $ / shares	$ 32.78

STOCK-BASED COMPENSATION - Sc67

STOCK-BASED COMPENSATION - Schedule of Unrecognized Stock-Based Compensation Expense (Details) $ in Thousands	9 Months Ended
	Mar. 31, 2017USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Stock-Based Compensation Expense	$ 40,087
Weighted Average Amortization Period	1 year 10 months 15 days
2013 Equity Incentive Plan | Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Stock-Based Compensation Expense	$ 10,815
Weighted Average Amortization Period	1 year 10 months
2013 Equity Incentive Plan | Performance share awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Stock-Based Compensation Expense	$ 19,535
Weighted Average Amortization Period	1 year 10 months 28 days
2013 Equity Incentive Plan | Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Stock-Based Compensation Expense	$ 9,737
Weighted Average Amortization Period	1 year 10 months

STOCK-BASED COMPENSATION - Sc68

STOCK-BASED COMPENSATION - Schedule of Aggregate Intrinsic Value of Stock Options (Details) - 2013 Equity Incentive Plan $ in Thousands	Mar. 31, 2017USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding and exercisable	$ 8,556
Expected to vest	170
Total outstanding	8,726
Exercised during the nine months ended March 31, 2017	$ 621

STOCK-BASED COMPENSATION - Assu

STOCK-BASED COMPENSATION - Assumptions Used for Determining the Fair Value of Stock Options Granted (Details) - 2013 Equity Incentive Plan - Stock options - USD ($)	9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life	6 years	6 years
Expected dividend (in dollars per share)	$ 0	$ 0
Expected dividend rate	0.00%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility (as a percent)	32.01%	32.70%
Risk-free interest rate	1.31%	1.37%
Weighted average option grant date fair value (in dollars per share)	$ 10.48	$ 11.19
Constant Maturity Treasury rate (term)	5 years
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility (as a percent)	33.00%	33.50%
Risk-free interest rate	2.13%	1.82%
Weighted average option grant date fair value (in dollars per share)	$ 11.28	$ 12.40
Constant Maturity Treasury rate (term)	7 years

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Dec. 02, 2016	Dec. 01, 2016	Jun. 30, 2016
Income Tax Contingency [Line Items]
Income tax expense	$ 7,315	$ 9,543	$ 68,080	$ 41,257
Effective tax rate	9.00%	12.00%	15.00%	18.00%
Net deferred tax assets	$ 422,600		$ 422,600				$ 422,800
Current deferred tax assets at Premier, Inc.	468,760		468,760				422,849
Deferred tax liabilities	46,137		46,137				0
Deferred tax liability associated with the one-time gain recognized	(27,400)		(27,400)
Deferred tax assets recorded in connection with the exchanges			94,600
TRA liabilities	$ 347,400		$ 347,400				$ 279,700
Tax savings payable to limited partners (as a percent)	85.00%		85.00%				85.00%
Increase in TRA liabilities			$ 67,700
Liabilities incurred in connection with quarterly member owner exchanges			70,800
Premier Healthcare Solutions, Inc.
Income Tax Contingency [Line Items]
Valuation allowance recorded against deferred tax assets			$ 18,800
Innovatix
Income Tax Contingency [Line Items]
Equity method investment (as a percent)						50.00%
Innovatix
Income Tax Contingency [Line Items]
Deferred tax liability					$ 42,900

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($)	Jul. 26, 2016	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Dec. 02, 2016	Dec. 01, 2016	Jun. 30, 2016
Related Party Transaction [Line Items]
Revenue share obligations		$ 70,396,000		$ 70,396,000				$ 63,603,000
Limited partners' distribution payable		23,071,000		23,071,000				22,493,000
Due from related parties		5,388,000		5,388,000				3,123,000
Share of Innovatix's net income		83,000	$ 6,627,000	14,789,000	$ 16,002,000
Net administrative fees revenue recorded from purchases under agreements		143,915,000	131,270,000	398,962,000	369,952,000
Innovatix
Related Party Transaction [Line Items]
Share of Innovatix's net income		0	6,735,000	10,743,000	15,992,000
FFF Enterprises, Inc.
Related Party Transaction [Line Items]
Share of Innovatix's net income		217,000	0	4,394,000	0
GYNHA
Related Party Transaction [Line Items]
Revenue share obligations		7,200,000		7,200,000				7,600,000
Limited partners' distribution payable		2,400,000		2,400,000				2,900,000
GYNHA | Administrative Fee Revenue
Related Party Transaction [Line Items]
Revenue share obligations								200,000
Innovatix
Related Party Transaction [Line Items]
Revenue share obligations								4,200,000
Essensa | Administrative Fee Revenue
Related Party Transaction [Line Items]
Net administrative fees revenue			700,000	1,200,000	2,000,000
AEIX
Related Party Transaction [Line Items]
Maximum annual incentive management fee		500,000		500,000
AEIX | Administrative Fee Revenue
Related Party Transaction [Line Items]
Net administrative fees revenue				200,000	100,000
Due from related parties		800,000		800,000				500,000
AEIX | Cost Reimbursement
Related Party Transaction [Line Items]
Net administrative fees revenue		$ 1,300,000	1,100,000	$ 3,500,000	3,200,000
Premier LP | GYNHA
Related Party Transaction [Line Items]
Ownership of outstanding partnership interests (as a percent)		9.00%		9.00%
Premier LP | GYNHA | Administrative Fee Revenue
Related Party Transaction [Line Items]
Net administrative fees revenue		$ 16,900,000	17,000,000	$ 51,800,000	49,200,000
Due from related parties		4,200,000		4,200,000				$ 2,600,000
Premier LP | GYNHA | Services and Support Revenue
Related Party Transaction [Line Items]
Net administrative fees revenue		3,900,000	3,600,000	11,000,000	10,000,000
Premier LP | GYNHA | Product Revenue
Related Party Transaction [Line Items]
Net administrative fees revenue		4,300,000	4,400,000	$ 12,300,000	15,200,000
Premier LP | Member Owners
Related Party Transaction [Line Items]
Revenue share of gross administrative fees (as a percent)				30.00%
Premier Supply Chain Improvement, Inc | Innovatix
Related Party Transaction [Line Items]
Share of Innovatix's net income			6,700,000	$ 10,700,000	16,000,000
Premier Supply Chain Improvement, Inc | FFF Enterprises, Inc.
Related Party Transaction [Line Items]
Share of Innovatix's net income		200,000		4,400,000
Ownership share of net income of FFF (as a percent)	49.00%
Net administrative fees revenue recorded from purchases under agreements		$ 1,400,000		3,000,000
Premier Healthcare Solutions, Inc. | Innovatix
Related Party Transaction [Line Items]
Net administrative fees revenue			$ 12,100,000	$ 19,900,000	$ 31,800,000
Innovatix
Related Party Transaction [Line Items]
Membership interest prior to acquisition (as a percent)							50.00%
Remaining membership interest acquired (as a percent)						50.00%
Essensa
Related Party Transaction [Line Items]
Remaining membership interest acquired (as a percent)						100.00%

SEGMENTS - Narrative (Details)

SEGMENTS - Narrative (Details)	9 Months Ended
	Mar. 31, 2017segment
Segment Reporting [Abstract]
Number of reportable business segments	2
Threshold to classify expenses as non-recurring (period)	2 years
Threshold to classify expenses as non-recurring, not expected to occur within (period)	2 years

SEGMENTS - Schedule of Segment

SEGMENTS - Schedule of Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Jun. 30, 2016
Segment Reporting Information [Line Items]
Net administrative fees	$ 143,915	$ 131,270	$ 398,962	$ 369,952
Other services and support	97,756	87,389	265,974	252,114
Services	241,671	218,659	664,936	622,066
Products	138,132	80,010	386,639	239,107
Net revenue	379,803	298,669	1,051,575	861,173
Depreciation and amortization expense	29,182	21,850	77,758	61,232
Capital expenditures	17,567	15,802	51,892	54,684
Total assets	2,598,684		2,598,684		$ 1,855,383
Corporate
Segment Reporting Information [Line Items]
Depreciation and amortization expense	1,974	1,572	5,771	4,478
Capital expenditures	1,061	1,371	2,466	8,817
Total assets	578,737		578,737		575,576
Supply Chain Services
Segment Reporting Information [Line Items]
Net administrative fees	143,915	131,270	398,962	369,952
Other services and support	3,116	1,104	5,962	2,963
Services	147,031	132,374	404,924	372,915
Products	138,132	80,010	386,639	239,107
Net revenue	285,163	212,384	791,563	612,022
Supply Chain Services | Operating Segments
Segment Reporting Information [Line Items]
Depreciation and amortization expense	5,717	262	8,637	1,138
Capital expenditures	198	63	2,347	1,031
Total assets	1,118,587		1,118,587		345,219
Performance Services
Segment Reporting Information [Line Items]
Net revenue	94,640	86,285	260,012	249,151
Performance Services | Operating Segments
Segment Reporting Information [Line Items]
Depreciation and amortization expense	21,491	20,016	63,350	55,616
Capital expenditures	16,308	$ 14,368	47,079	$ 44,836
Total assets	$ 901,360		$ 901,360		$ 934,588

SEGMENTS - Reconciliation of In

SEGMENTS - Reconciliation of Income Before Income Taxes to Segment Adjusted EBITDA (Details) - USD ($) $ in Thousands	Dec. 02, 2016	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Dec. 01, 2016
Segment Reporting [Abstract]
Income before income taxes		$ 78,653	$ 81,100			$ 443,697	$ 226,062
Remeasurement gain attributable to acquisition of Innovatix, LLC		0	0			(204,833)	0
Equity in net income of unconsolidated affiliates		(83)	(6,627)			(14,789)	(16,002)
Interest and investment loss, net		2,017	285			3,026	981
Loss on disposal of long-lived assets		725	0			2,243	0
Other expense (income), net		(2,260)	0			(3,135)	2,081
Operating income		79,052	74,758			226,209	213,122
Depreciation and amortization		15,102	13,110			43,318	37,174
Amortization of purchased intangible assets		14,080	8,740			34,440	24,058
Stock-based compensation		7,157	11,839			19,476	37,093
Acquisition related expenses		4,330	2,583			11,483	11,699
Strategic and financial restructuring expenses		0	33			0	268
Adjustment to tax receivable agreement liability		2,768	0			(2,954)	(4,818)
ERP implementation expenses		215	1,162			1,741	3,240
Acquisition related adjustment - revenue		11,765	1,077			17,729	5,216
Equity in net income of unconsolidated affiliates		83	6,627			14,789	16,002
Deferred compensation plan income (expense)		1,675	0			2,778	(2,073)
Other income		497	0			497	0
Segment Reporting Information [Line Items]
Adjusted EBITDA		136,724	119,929			369,506	340,981
Business Acquisition [Line Items]
Stock purchase plan expense		100	100			400	300
Purchase accounting adjustments to Adjusted EBITDA		11,765	1,077			$ 17,729	5,216
Support contracts, term						1 year
Innovatix
Segment Reporting [Abstract]
Remeasurement gain attributable to acquisition of Innovatix, LLC	$ (204,800)				$ (204,800)
Business Acquisition [Line Items]
Ownership interest prior to acquisition (as a percent)								50.00%
Ownership interest acquired (as a percent)	50.00%
Innovatix and Essensa
Segment Reporting [Abstract]
Acquisition related expenses		400				$ 5,100
Acquisition related adjustment - revenue		11,600				17,200
Business Acquisition [Line Items]
Purchase accounting adjustments to Adjusted EBITDA		11,600				17,200
Estimated purchase accounting adjustment of accounts receivable				$ 22,100
Estimated purchase accounting adjustment for related revenue share obligation				$ 4,000
Non-cash adjustments to deferred revenue of acquired entities		100	1,100			500	5,200
FFF
Segment Reporting [Abstract]
Equity in net income of unconsolidated affiliates		$ (217)	0			$ (4,394)	0
Business Acquisition [Line Items]
Ownership interest in FFF (as a percent)		49.00%		49.00%		49.00%
Operating Segments | Supply Chain Services
Segment Reporting Information [Line Items]
Adjusted EBITDA		$ 127,898	118,704			$ 364,224	329,642
Operating Segments | Performance Services
Segment Reporting Information [Line Items]
Adjusted EBITDA		36,535	30,771			87,449	90,158
Corporate
Segment Reporting Information [Line Items]
Adjusted EBITDA		$ (27,709)	$ (29,546)			$ (82,167)	$ (78,819)