Premier (PINC) 10-Q 6 Feb 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Dec. 31, 2023	Feb. 01, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Entity File Number	001-36092
Entity Registrant Name	Premier, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	35-2477140
Entity Address, Address Line One	13034 Ballantyne Corporate Place
Entity Address, City or Town	Charlotte,
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28277
City Area Code	704
Local Phone Number	357-0022
Title of 12(b) Security	Class A Common Stock, $0.01 Par Value
Trading Symbol	PINC
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		119,817,876
Entity Central Index Key	0001577916
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023
Assets
Cash and cash equivalents	$ 371,110	$ 89,793
Accounts receivable (net of $2,394 and $2,878 allowance for credit losses, respectively)	122,300	115,295
Contract assets (net of $1,137 and $885 allowance for credit losses, respectively)	331,727	299,219
Inventory	72,766	76,932
Prepaid expenses and other current assets	92,354	60,387
Total current assets	990,257	641,626
Property and equipment (net of $703,148 and $662,554 accumulated depreciation, respectively)	218,050	212,308
Intangible assets (net of $290,884 and $265,684 accumulated amortization, respectively)	404,830	430,030
Goodwill	1,012,355	1,012,355
Deferred income tax assets	808,562	653,629
Deferred compensation plan assets	48,792	50,346
Investments in unconsolidated affiliates	229,434	231,826
Operating lease right-of-use assets	24,439	29,252
Other assets	95,809	110,115
Total assets	3,832,528	3,371,487
Liabilities and stockholders' equity
Accounts payable	54,252	54,375
Accrued expenses	50,946	47,113
Revenue share obligations	279,855	262,288
Accrued compensation and benefits	53,798	60,591
Deferred revenue	20,692	24,311
Line of credit and current portion of long-term debt	1,008	216,546
Current portion of liability related to the sale of future revenues	35,800	0
Other current liabilities	96,750	50,574
Total current liabilities	693,695	815,463
Liability related to the sale of future revenues, less current portion	579,409	0
Deferred compensation plan obligations	48,792	50,346
Operating lease liabilities, less current portion	16,016	21,864
Other liabilities	53,413	47,202
Total liabilities	1,442,319	1,037,132
Commitments and contingencies (Note 14)
Stockholders' equity:
Treasury stock, at cost; 6,429,375 shares at both December 31, 2023 and June 30, 2023	(250,129)	(250,129)
Additional paid-in capital	2,186,115	2,178,134
Retained earnings	452,946	405,102
Accumulated other comprehensive income (loss)	15	(8)
Total stockholders' equity	2,390,209	2,334,355
Total liabilities and stockholders' equity	3,832,528	3,371,487
Related Party
Liabilities and stockholders' equity
Current portion of notes payable to former limited partners	100,594	99,665
Long-term debt, less current portion and Notes payable to former limited partners, less current portion	50,994	101,523
Nonrelated Party
Liabilities and stockholders' equity
Long-term debt, less current portion and Notes payable to former limited partners, less current portion	0	734
Class A Common Stock
Stockholders' equity:
Class A common stock, $0.01 par value, 500,000,000 shares authorized; 126,245,859 shares issued and 119,816,484 shares outstanding at December 31, 2023 and 125,587,858 shares issued and 119,158,483 shares outstanding at June 30, 2023	$ 1,262	$ 1,256

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023
Allowance for doubtful accounts	$ 2,394	$ 2,878
Allowance for credit losses	1,137	885
Accumulated depreciation	703,148	662,554
Accumulated amortization	$ 290,884	$ 265,684
Treasury stock, shares (in shares)	6,429,375	6,429,375
Class A Common Stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	126,245,859	125,587,858
Common stock outstanding (in shares)	119,816,484	119,158,483

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Net revenue:
Net revenue	$ 334,745	$ 359,626	$ 653,497	$ 673,499
Cost of revenue:
Cost of revenue	113,462	116,885	221,632	228,773
Gross profit	221,283	242,741	431,865	444,726
Operating expenses:
Selling, general and administrative	142,150	140,528	280,210	272,578
Research and development	928	1,000	1,791	1,975
Amortization of purchased intangible assets	12,512	13,047	25,200	23,499
Operating expenses	155,590	154,575	307,201	298,052
Operating income	65,693	88,166	124,664	146,674
Equity in net (loss) income of unconsolidated affiliates	(666)	1,674	(2,392)	9,917
Interest income (expense), net	2,438	(4,631)	2,633	(7,490)
Other income, net	4,679	2,930	3,587	766
Other income (expense), net	6,451	(27)	3,828	3,193
Income before income taxes	72,144	88,139	128,492	149,867
Income tax expense	19,278	23,765	33,216	42,534
Net income	52,866	64,374	95,276	107,333
Net loss (income) attributable to non-controlling interest	1,436	(328)	3,787	(571)
Net income attributable to stockholders	54,302	64,046	99,063	106,762
Comprehensive income:
Net income	52,866	64,374	95,276	107,333
Comprehensive loss (income) attributable to non-controlling interest	1,436	(328)	3,787	(571)
Foreign currency translation gain (loss)	26	1	23	(9)
Comprehensive income attributable to stockholders	$ 54,328	$ 64,047	$ 99,086	$ 106,753
Weighted average shares outstanding:
Basic (in shares)	119,702	118,787	119,523	118,569
Diluted (in shares)	120,057	119,652	120,095	119,842
Earnings per share attributable to stockholders:
Basic (in dollars per share)	$ 0.45	$ 0.54	$ 0.83	$ 0.90
Diluted (in dollars per share)	$ 0.45	$ 0.54	$ 0.82	$ 0.89
Services and software licenses
Net revenue:
Net revenue	$ 278,964	$ 292,633	$ 547,131	$ 547,645
Cost of revenue:
Cost of revenue	65,990	55,265	130,122	109,279
Net administrative fees
Net revenue:
Net revenue	149,563	154,423	298,590	304,429
Software licenses, other services and support
Net revenue:
Net revenue	129,401	138,210	248,541	243,216
Products
Net revenue:
Net revenue	55,781	66,993	106,366	125,854
Cost of revenue:
Cost of revenue	$ 47,472	$ 61,620	$ 91,510	$ 119,494

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Class A Common Stock	Common Stock Class A Common Stock	Treasury Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive (Loss) Income
Beginning balance (in shares) at Jun. 30, 2022			118,052,000
Beginning balance at Jun. 30, 2022	$ 2,248,850		$ 1,245	$ (250,129)	$ 2,166,047	$ 331,690	$ (3)
Treasury stock, beginning balance (in shares) at Jun. 30, 2022				6,429,000
Increase (Decrease) in Stockholders' Equity
Issuance of Class A common stock under equity incentive plan (in shares)			694,000
Issuance of Class A common stock under equity incentive plan	644		$ 7		637
Stock-based compensation expense	7,136				7,136
Repurchase of vested restricted units for employee tax-withholding	(13,089)				(13,089)
Net income	42,959					42,959
Net (loss) income attributable to non-controlling interest	0				243	(243)
Change in ownership of consolidated entity	26				26
Dividends	(25,097)					(25,097)
Foreign currency translation adjustment	(10)						(10)
Ending balance (in shares) at Sep. 30, 2022			118,746,000
Ending balance at Sep. 30, 2022	2,261,419		$ 1,252	$ (250,129)	2,161,000	349,309	(13)
Treasury stock, ending balance (in shares) at Sep. 30, 2022				6,429,000
Beginning balance (in shares) at Jun. 30, 2022			118,052,000
Beginning balance at Jun. 30, 2022	2,248,850		$ 1,245	$ (250,129)	2,166,047	331,690	(3)
Treasury stock, beginning balance (in shares) at Jun. 30, 2022				6,429,000
Increase (Decrease) in Stockholders' Equity
Net income	107,333
Ending balance (in shares) at Dec. 31, 2022			118,867,000
Ending balance at Dec. 31, 2022	2,306,073		$ 1,253	$ (250,129)	2,166,909	388,052	(12)
Treasury stock, ending balance (in shares) at Dec. 31, 2022				6,429,000
Beginning balance (in shares) at Sep. 30, 2022			118,746,000
Beginning balance at Sep. 30, 2022	2,261,419		$ 1,252	$ (250,129)	2,161,000	349,309	(13)
Treasury stock, beginning balance (in shares) at Sep. 30, 2022				6,429,000
Increase (Decrease) in Stockholders' Equity
Issuance of Class A common stock under equity incentive plan (in shares)			54,000
Issuance of Class A common stock under equity incentive plan	60		$ 0		60
Issuance of Class A common stock under employee stock purchase plan (in shares)			67,000
Issuance of Class A common stock under employee stock purchase plan	2,268		$ 1		2,267
Stock-based compensation expense	2,679				2,679
Repurchase of vested restricted units for employee tax-withholding	(41)				(41)
Net income	64,374					64,374
Net (loss) income attributable to non-controlling interest	0				328	(328)
Change in ownership of consolidated entity	26				26
Dividends	(25,303)					(25,303)
Foreign currency translation adjustment	1						1
Other	590				590
Ending balance (in shares) at Dec. 31, 2022			118,867,000
Ending balance at Dec. 31, 2022	2,306,073		$ 1,253	$ (250,129)	2,166,909	388,052	(12)
Treasury stock, ending balance (in shares) at Dec. 31, 2022				6,429,000
Beginning balance (in shares) at Jun. 30, 2023		119,158,483	119,158,000
Beginning balance at Jun. 30, 2023	$ 2,334,355		$ 1,256	$ (250,129)	2,178,134	405,102	(8)
Treasury stock, beginning balance (in shares) at Jun. 30, 2023	6,429,375			6,429,000
Increase (Decrease) in Stockholders' Equity
Issuance of Class A common stock under equity incentive plan (in shares)			514,000
Issuance of Class A common stock under equity incentive plan	$ 5		$ 5		0
Stock-based compensation expense	6,692				6,692
Repurchase of vested restricted units for employee tax-withholding	(5,178)				(5,178)
Net income	42,410					42,410
Net (loss) income attributable to non-controlling interest	0				(2,351)	2,351
Change in ownership of consolidated entity	27				27
Dividends	(25,603)					(25,603)
Foreign currency translation adjustment	(3)						(3)
Ending balance (in shares) at Sep. 30, 2023			119,672,000
Ending balance at Sep. 30, 2023	2,352,705		$ 1,261	$ (250,129)	2,177,324	424,260	(11)
Treasury stock, ending balance (in shares) at Sep. 30, 2023				6,429,000
Beginning balance (in shares) at Jun. 30, 2023		119,158,483	119,158,000
Beginning balance at Jun. 30, 2023	$ 2,334,355		$ 1,256	$ (250,129)	2,178,134	405,102	(8)
Treasury stock, beginning balance (in shares) at Jun. 30, 2023	6,429,375			6,429,000
Increase (Decrease) in Stockholders' Equity
Net income	$ 95,276
Ending balance (in shares) at Dec. 31, 2023		119,816,484	119,816,000
Ending balance at Dec. 31, 2023	$ 2,390,209		$ 1,262	$ (250,129)	2,186,115	452,946	15
Treasury stock, ending balance (in shares) at Dec. 31, 2023	6,429,375			6,429,000
Beginning balance (in shares) at Sep. 30, 2023			119,672,000
Beginning balance at Sep. 30, 2023	$ 2,352,705		$ 1,261	$ (250,129)	2,177,324	424,260	(11)
Treasury stock, beginning balance (in shares) at Sep. 30, 2023				6,429,000
Increase (Decrease) in Stockholders' Equity
Issuance of Class A common stock under equity incentive plan (in shares)			56,000
Issuance of Class A common stock under equity incentive plan	0				0
Issuance of Class A common stock under employee stock purchase plan (in shares)			88,000
Issuance of Class A common stock under employee stock purchase plan	1,976		$ 1		1,975
Stock-based compensation expense	8,378				8,378
Repurchase of vested restricted units for employee tax-withholding	(151)				(151)
Net income	52,866					52,866
Net (loss) income attributable to non-controlling interest	0				(1,436)	1,436
Change in ownership of consolidated entity	25				25
Dividends	(25,616)					(25,616)
Foreign currency translation adjustment	26						26
Ending balance (in shares) at Dec. 31, 2023		119,816,484	119,816,000
Ending balance at Dec. 31, 2023	$ 2,390,209		$ 1,262	$ (250,129)	$ 2,186,115	$ 452,946	$ 15
Treasury stock, ending balance (in shares) at Dec. 31, 2023	6,429,375			6,429,000

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended			6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2023
Statement of Stockholders' Equity [Abstract]
Dividends declared (in dollars per share)	$ 0.21	$ 0.21	$ 0.21	$ 0.21

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Operating activities
Net income	$ 95,276	$ 107,333
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	65,795	68,377
Equity in net loss (income) of unconsolidated affiliates	2,392	(9,917)
Deferred income taxes	(154,933)	1,959
Stock-based compensation	15,070	9,815
Other, net	2,966	10,167
Changes in operating assets and liabilities, net of the effects of acquisitions:
Accounts receivable	(7,005)	(5,145)
Contract assets	(33,178)	(26,458)
Inventory	4,166	3,231
Prepaid expenses and other assets	(10,624)	17,685
Accounts payable	2,608	16,707
Revenue share obligations	17,567	9,974
Accrued expenses, deferred revenue and other liabilities	35,280	(7,003)
Net cash provided by operating activities	35,380	196,725
Investing activities
Purchases of property and equipment	(49,068)	(38,416)
Acquisition of businesses and equity method investments, net of cash acquired	0	(187,750)
Other	0	(1,300)
Net cash used in investing activities	(49,068)	(227,466)
Financing activities
Payments on notes payable	(50,872)	(51,049)
Proceeds from credit facility	0	285,000
Payments on credit facility	(215,000)	(135,000)
Proceeds from sale of future revenues	629,820	0
Payments on liability related to the sale of future revenues	(14,611)	0
Cash dividends paid	(51,059)	(50,205)
Other, net	(3,296)	(9,516)
Net cash provided by financing activities	294,982	39,230
Effect of exchange rate changes on cash flows	23	(9)
Net increase in cash and cash equivalents	281,317	8,480
Cash and cash equivalents at beginning of period	89,793	86,143
Cash and cash equivalents at end of period	$ 371,110	$ 94,623

ORGANIZATION AND BASIS OF PRESE

ORGANIZATION AND BASIS OF PRESENTATION	6 Months Ended
	Dec. 31, 2023
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 located in the United States. The Company is a holding company with no material business operations of its own. The Company’s primary asset is its equity interest in its wholly owned subsidiary Premier Healthcare Solutions, Inc., a Delaware corporation (“PHSI”). The Company conducts substantially all of its business operations through PHSI and its other consolidated subsidiaries. The Company, together with its subsidiaries and affiliates, is a leading technology-driven healthcare improvement company that unites hospitals, health systems, physicians, employers, product suppliers, service providers, and other healthcare providers and organizations to improve and innovate in the clinical, financial and operational areas of their businesses to meet the demands of a rapidly evolving healthcare industry and continues to expand its capabilities to more fully address and coordinate care improvement and standardization in the employer, payer and life sciences markets. Additionally, the Company also provides some of the various products and services noted above to non-healthcare businesses, including through its direct sourcing activities as well as continued access to its group purchasing organization (“GPO”) programs for non-healthcare members whose contracts were sold to OMNIA Partners, LLC (“OMNIA”) (see Note 9 - Liability Related to the Sale of Future Revenues). The Company’s business model and solutions are designed to provide its members and other customers access to scale efficiencies, spread the cost of their development, provide actionable intelligence derived from anonymized data in the Company’s enterprise data warehouse, mitigate the risk of innovation and disseminate best practices to help the Company’s members and other customers 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 15 - Segments for further information related to the Company’s reportable business segments. The Company has no significant foreign operations or revenues. The Supply Chain Services segment includes one of the largest national healthcare GPO programs in the United States and provides supply chain co-management, purchased services and direct sourcing activities. The Performance Services segment consists of three sub-brands: PINC AI TM , the Company’s technology and services platform with offerings that help optimize performance in three main areas – clinical intelligence, margin improvement and value-based care – using advanced analytics to identify improvement opportunities, consulting and managed services for clinical and operational design, and workflow solutions to hardwire sustainable change in the provider, payer and life sciences markets; Contigo Health ® , the Company’s direct-to-employer business which provides third-party administrator services and management of health-benefit programs that enable healthcare providers that are also payers (e.g., payviders) and employers to contract directly with healthcare providers as well as partner with healthcare providers to provide employers access to a specialized care network through Contigo Health’s centers of excellence program and cost containment and wrap network; and Remitra ® , the Company’s digital invoicing and payables automation business which provides financial support services to healthcare suppliers and providers. Principles of Consolidation The accompanying condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the SEC and in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and include the assets, liabilities, revenues and expenses of all majority-owned subsidiaries over which the Company exercised control and when applicable, entities for which the Company had a controlling financial interest or was the primary beneficiary. All intercompany transactions have been eliminated upon consolidation. 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, consisting of normal recurring adjustments, unless otherwise disclosed. Certain amounts in prior periods have been reclassified to conform to the current period presentation. 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 2023 Annual Report. Supplementary Cash Flows Information The following table presents supplementary cash flows information for the six months ended December 31, 2023 and 2022 (in thousands): Six Months Ended December 31, 2023 2022 Supplemental schedule of non-cash investing and financing activities: Accrued dividend equivalents $ 956 $ 519 Non-cash additions to property and equipment — 84 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, but not limited to, estimates for net administrative fees revenue, software licenses, other services and support revenue, contract assets, deferred revenue, contract costs, allowances for credit losses, reserves for net realizable value of inventory, obsolete inventory, useful lives of property and equipment, stock-based compensation, deferred tax balances including valuation allowances on deferred tax assets, uncertain tax positions, values of investments not publicly traded, projected future cash flows used in the evaluation of asset impairments, values of call rights, values of earn-out liabilities 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.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Dec. 31, 2023
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 2023 Annual Report, except as described below. Liability Related to the Sale of Future Revenues

BUSINESS ACQUISITIONS

BUSINESS ACQUISITIONS	6 Months Ended
	Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]
BUSINESS ACQUISITIONS	(3) BUSINESS ACQUISITIONS Acquisition of TRPN Direct Pay, Inc. and Devon Health, Inc. Assets On October 13, 2022, the Company, through its consolidated subsidiary Contigo Health, LLC (“Contigo Health”), acquired certain assets (the “TRPN Transferred Assets”) of TRPN Direct Pay, Inc. and Devon Health, Inc. (collectively, “TRPN”), including contracts with more than 900,000 providers (collectively, the “Assumed Contracts”), and agreed to assume certain liabilities and obligations of TRPN with regard to the Assumed Contracts (referred to as the “TRPN acquisition”). The TRPN Transferred Assets relate to businesses of TRPN focused on improving access to quality healthcare and reducing the cost of medical claims through pre-negotiated discounts with network providers, including acute care hospitals, surgery centers, physicians and other continuum of care providers in the United States. Contigo Health also agreed to license proprietary cost containment technology of TRPN. The purchase price paid by the Company to complete the TRPN acquisition consisted of cash of $177.5 million, funded with borrowings under the Company’s Credit Facility (as defined in Note 8 - Debt and Notes Payable) and cash on hand, of which $17.8 million was placed in escrow to satisfy indemnification obligations of TRPN to Contigo Health and its affiliates and other parties related thereto under the purchase agreement governing the TRPN acquisition. The Company has accounted for the TRPN acquisition as a business combination whereby the purchase price was allocated to tangible and intangible assets acquired and liabilities assumed based on their fair values. The total fair value assigned to intangible assets acquired was $116.6 million, consisting primarily of the provider network. The TRPN acquisition resulted in the initial recognition of $60.9 million of goodwill attributable to the anticipated profitability of TRPN, based on the purchase price paid in the acquisition compared to the fair value of the net assets acquired. The TRPN acquisition was considered an asset acquisition for income tax purposes. Accordingly, the Company expects tax goodwill to be deductible for tax purposes. In fiscal year 2023, the Company recorded a pre-tax goodwill impairment charge of $54.4 million related to the Contigo Health reporting unit including goodwill recognized as a result of the TRPN acquisition. TRPN has been integrated within Premier under Contigo Health and is reported as part of the Performance Services Segment. Pro forma results of operations for the acquisition have not been presented because the effects on revenue and net income were not material to the Company’s historical consolidated financial statements.

INVESTMENTS

INVESTMENTS	6 Months Ended
	Dec. 31, 2023
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): Equity in Net (Loss) Income Three Months Ended Six Months Ended Carrying Value December 31, December 31, December 31, 2023 June 30, 2023 2023 2022 2023 2022 FFF $ 136,080 $ 136,080 $ — $ 518 $ — $ 7,705 Exela 30,855 32,905 (631) 632 (2,050) 770 Qventus 16,000 16,000 — — — — Prestige 15,465 15,503 (157) 291 (38) 471 Other investments 31,034 31,338 122 233 (304) 971 Total investments $ 229,434 $ 231,826 $ (666) $ 1,674 $ (2,392) $ 9,917 The Company, through its indirect, wholly owned subsidiary Premier Supply Chain Improvement, Inc. (“PSCI”), held a 49% interest in FFF Enterprises, Inc. (“FFF”) through its ownership of stock of FFF at December 31, 2023 and June 30, 2023. On March 3, 2023, the Company and the majority shareholder of FFF amended the FFF shareholders’ agreement and as of the date of the amendment, the Company accounts for its investment in FFF at cost less impairments, if any, plus or minus any observable changes in fair value (refer to the 2023 Annual Report for additional information and details regarding the March 2023 amendment). The Company accounts for its investment in FFF as part of the Supply Chain Services segment. The Company, through its consolidated subsidiary, ExPre Holdings, LLC (“ExPre”), held an approximate 6% interest in Exela Holdings, Inc. (“Exela”) through its ownership of Exela Class A common stock at December 31, 2023 and June 30, 2023. At December 31, 2023 and June 30, 2023, the Company owned approximately 15% of the membership interest of ExPre, with the remainder of the membership interests held by 11 member health systems or their affiliates. The Company, through its consolidated subsidiary, PRAM Holdings, LLC (“PRAM”), held an approximate 20% interest in Prestige Ameritech Ltd. (“Prestige”) through its ownership of Prestige limited partnership units at December 31, 2023 and June 30, 2023. At December 31, 2023 and June 30, 2023, the Company owned approximately 26% of the membership interest of PRAM, with the remainder of the membership interests held by 16 member health systems or their affiliates. The Company accounts for its investments in Exela and Prestige using the equity method of accounting and includes each investment as part of the Supply Chain Services segment. The Company, through PHSI, held an approximate 7% interest in Qventus, Inc. (“Qventus”) through its ownership of Qventus Series C preferred stock at December 31, 2023 and June 30, 2023. The Company accounts for its investment in Qventus at cost less impairments, if any, plus or minus any observable changes in fair value. The Company includes Qventus as part of the Performance Services segment.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Dec. 31, 2023
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): Fair Value of Financial Assets and Liabilities Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs December 31, 2023 Cash equivalents $ 147,592 $ 147,592 $ — $ — Deferred compensation plan assets 55,189 55,189 — — Total assets 202,781 202,781 — — Earn-out liabilities 27,876 — — 27,876 Total liabilities $ 27,876 $ — $ — $ 27,876 June 30, 2023 Cash equivalents $ 77 $ 77 $ — $ — Deferred compensation plan assets 55,566 55,566 — — Total assets 55,643 55,643 — — Earn-out liabilities 26,603 — — 26,603 Total liabilities $ 26,603 $ — $ — $ 26,603 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 ($6.4 million and $5.2 million at December 31, 2023 and June 30, 2023, respectively) was included in prepaid expenses and other current assets 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 have been established in connection with certain acquisitions, including the acquisition of substantially all of the assets and certain liabilities of Acurity, Inc. and Nexera, Inc. (the “Acurity and Nexera asset acquisition”) in February 2020. The earn-out liability related to the Acurity and Nexera asset acquisition was based upon the Company’s achievement of a range of member renewals on terms agreed to by the Company and Greater New York Hospital Association based on prevailing market conditions in December 2023. Earn-out liabilities are classified as Level 3 of the fair value hierarchy. Acurity and Nexera Earn-out (a) The earn-out liability arising from expected earn-out payments related to the Acurity and Nexera asset acquisition was measured on the acquisition date using a probability-weighted expected payment model and is remeasured periodically due to changes in management’s estimates of the number of transferred member renewals and market conditions. In determining the fair value of the contingent liabilities, management reviews the current results of the acquired business, along with projected results for the remaining earn-out period, to calculate the expected earn-out payment to be made based on the contractual terms set out in the acquisition agreement. The Acurity and Nexera earn-out liability utilized a credit spread of 1.1% at December 31, 2023 and 1.6% at June 30, 2023. At December 31, 2023, the most likely outcome was determined to be $30.0 million from an undiscounted range of outcomes between $0 and $30.0 million. The fair value of the Acurity and Nexera earn-out liability at December 31, 2023 and June 30, 2023 was $27.9 million and $23.1 million, respectively. Input assumptions As of December 31, 2023 As of June 30, 2023 Probability of transferred member renewal percentage < 50% — % 5.0 % Probability of transferred member renewal percentage between 50% and 65% — % 10.0 % Probability of transferred member renewal percentage between 65% and 80% — % 25.0 % Probability of transferred member renewal percentage > 80% 100.0 % 60.0 % Credit spread 1.1 % 1.6 % _________________________________ (a) The Acurity and Nexera earn-out liability was initially valued as of February 28, 2020. A reconciliation of the Company’s earn-out liabilities is as follows (in thousands): Beginning Balance Purchases (Settlements) (a) (Gain)/Loss (b) Ending Balance Three Months Ended December 31, 2023 Earn-out liabilities $ 29,861 $ (1,375) $ (610) $ 27,876 Total Level 3 liabilities $ 29,861 $ (1,375) $ (610) $ 27,876 Three Months Ended December 31, 2022 Earn-out liabilities $ 22,361 $ 1,460 $ 277 $ 24,098 Total Level 3 liabilities $ 22,361 $ 1,460 $ 277 $ 24,098 Six Months Ended December 31, 2023 Earn-out liabilities $ 26,603 $ (1,375) $ 2,648 $ 27,876 Total Level 3 liabilities $ 26,603 $ (1,375) $ 2,648 $ 27,876 Six Months Ended December 31, 2022 Earn-out liabilities $ 22,789 $ 1,460 $ (151) $ 24,098 Total Level 3 liabilities $ 22,789 $ 1,460 $ (151) $ 24,098 _________________________________ (a) Settlements for the three and six months ended December 31, 2023 represent payments on earn-out liabilities. Purchases for the three and six months ended December 31, 2022 includes an earn-out which had not been earned or paid as of December 31, 2022. (b) Gains on level 3 liability balances will decrease the liability ending balance, and losses on level 3 liability balances will increase the liability ending balance. Non-Recurring Fair Value Measurements As a result of the August 2020 Restructuring, the Company recorded non-interest bearing notes payable to former limited partners during the first quarter of fiscal year 2021. Although these notes are non-interest bearing, they include a Level 2 input associated with an implied fixed annual interest rate of 1.8% (see Note 8 - Debt and Notes Payable). As of December 31, 2023 and June 30, 2023, the notes payable to former limited partners were recorded net of discounts of $2.4 million and $4.2 million, respectively. During the six months ended December 31, 2023, no non-recurring fair value measurements were required relating to the measurement of goodwill and intangible assets for impairment. Financial Instruments For Which Fair Value Only is Disclosed The fair values of non-interest bearing notes payable, classified as Level 2, were equal to the carrying value at both December 31, 2023 and June 30, 2023 based on an assumed market interest rate of 1.6%. Other Financial Instruments The fair values of cash, accounts receivable, accounts payable, accrued liabilities and the Credit Facility (as defined in Note 8 - Debt and Notes Payable) approximated carrying value due to the short-term nature of these financial instruments.

CONTRACT BALANCES

CONTRACT BALANCES	6 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
CONTRACT BALANCES	(6) CONTRACT BALANCES Deferred Revenue Revenue recognized during the six months ended December 31, 2023 that was included in the opening balance of deferred revenue at June 30, 2023 was $18.9 million, which is a result of satisfying certain performance obligations. Performance Obligations A performance obligation is a contractual obligation to transfer a distinct good or service to a customer. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. Contracts may have a single performance obligation as the agreement to transfer individual goods or services is not separately identifiable from other contractual obligations and, therefore, not distinct, while other contracts may have multiple performance obligations, most commonly due to the contract covering multiple phases or deliverable arrangements (licensing fees, SaaS subscription fees, maintenance and support fees, and professional fees for consulting services). Refer to the Company’s significant accounting policies in the 2023 Annual Report for discussion of revenue recognition on contracts with customers. A reduction to net revenue of $0.8 million was recognized during the three months ended December 31, 2023 from performance obligations that were satisfied or partially satisfied in prior periods. The reduction was driven by a $1.3 million decrease in net administrative fees revenue related to over-forecasted cash receipts received in the current period partially offset by an increase of $0.5 million associated with revised forecasts from underlying contracts that include variable consideration components as well as additional fluctuations due to input method contracts which occur in the normal course of business. Net revenue of $3.2 million was recognized during the six months ended December 31, 2023 from performance obligations that were satisfied or partially satisfied in prior periods. The net revenue recognized was driven by an increase of $3.9 million associated with revised forecasts from underlying contracts that include variable consideration components as well as additional fluctuations due to input method contracts which occur in the normal course of business. This increase was partially offset by a reduction of $0.7 million in net administrative fees revenue related to over-forecasted cash receipts received in the current period. A reduction to net revenue of $0.4 million was recognized during the three months ended December 31, 2022 from performance obligations that were satisfied or partially satisfied in prior periods. The reduction was driven by a $0.8 million decrease associated with revised forecasts from underlying contracts that include variable consideration components as well as additional fluctuations due to input method contracts which occur in the normal course of business. This decrease was partially offset by an increase of $0.4 million in net administrative fees revenue related to under-forecasted cash receipts received in the current period. Net revenue of $2.5 million was recognized during the six months ended December 31, 2022 from performance obligations that were satisfied or partially satisfied in prior periods. The net revenue recognized was driven by an increase of $4.6 million in net administrative fees revenue related to under-forecasted cash receipts received in the current period partially offset by a reduction of $2.1 million associated with revised forecasts from underlying contracts that include variable consideration components as well as additional fluctuations due to input method contracts which occur in the normal course of business. Remaining performance obligations represent the portion of the transaction price that has not yet been satisfied or achieved. As of December 31, 2023, the aggregate amount of the transaction price allocated to remaining performance obligations was $771.6 million. The Company expects to recognize approximately 38% of the remaining performance obligations over the next twelve months and an additional 23% over the following twelve months, with the remainder recognized thereafter.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	6 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	(7) GOODWILL AND INTANGIBLE ASSETS Goodwill At December 31, 2023 and June 30, 2023, the Company had goodwill balances recorded at Supply Chain Services and Performance Services of $386.2 million and $626.1 million, respectively. At December 31, 2023 and June 30, 2023, the Company had accumulated impairment losses to goodwill at Supply Chain Services and Performance Services of $2.3 million and $54.4 million, respectively. Fiscal 2023 Goodwill Impairment During the year ended June 30, 2023, the Company recorded pre-tax goodwill impairment charges of $54.4 million and $2.3 million related to the Contigo Health and Direct Sourcing reporting units, respectively. Intangible Assets, Net Intangible assets, net consisted of the following (in thousands): December 31, 2023 June 30, 2023 Useful Life Gross Accumulated Amortization Net Gross Accumulated Amortization Net Member relationships 14.7 years $ 386,100 $ (149,831) $ 236,269 $ 386,100 $ (136,751) $ 249,349 Provider network 15.0 years 106,500 (8,579) 97,921 106,500 (5,029) 101,471 Technology 7.1 years 99,317 (70,721) 28,596 99,317 (67,581) 31,736 Customer relationships 9.4 years 57,930 (34,294) 23,636 57,930 (31,846) 26,084 Trade names 6.7 years 18,920 (13,029) 5,891 18,920 (11,983) 6,937 Non-compete agreements 5.2 years 17,715 (11,091) 6,624 17,715 (9,738) 7,977 Other (a) 9.3 years 9,232 (3,339) 5,893 9,232 (2,756) 6,476 Total $ 695,714 $ (290,884) $ 404,830 $ 695,714 $ (265,684) $ 430,030 _________________________________ (a) Includes a $1.0 million indefinite-lived asset. The net carrying value of intangible assets by segment was as follows (in thousands): December 31, 2023 June 30, 2023 Supply Chain Services $ 253,920 $ 269,710 Performance Services (a) 150,910 160,320 Total intangible assets, net $ 404,830 $ 430,030 _________________________________ (a) Includes a $1.0 million indefinite-lived asset. The estimated amortization expense for each of the next five fiscal years and thereafter is as follows (in thousands): 2024 (a) $ 24,562 2025 48,136 2026 46,892 2027 44,240 2028 39,197 Thereafter 200,803 Total amortization expense $ 403,830 (a) As of December 31, 2023, estimated amortization expense is for the period from January 1, 2024 to June 30, 2024.

DEBT AND NOTES PAYABLE

DEBT AND NOTES PAYABLE	6 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
DEBT AND NOTES PAYABLE	(8) DEBT AND NOTES PAYABLE Long-term debt and notes payable consisted of the following (in thousands): December 31, 2023 June 30, 2023 Credit Facility $ — $ 215,000 Notes payable to former limited partners, net of discount 151,588 201,188 Other notes payable 1,008 2,280 Total debt and notes payable 152,596 418,468 Less: current portion (101,602) (316,211) Total long-term debt and notes payable $ 50,994 $ 102,257 Credit Facility PHSI, along with its consolidated subsidiaries, Premier LP and PSCI (“Co-Borrowers”), and certain domestic subsidiaries of the Co-Borrowers, as guarantors, entered into a senior unsecured Amended and Restated Credit Agreement, dated as of December 12, 2022 (the “Credit Facility”). The Credit Facility has a maturity date of December 12, 2027, subject to up to two one-year extensions, and provides for borrowings of up to $1.0 billion with (i) a $50.0 million sub-facility for standby letters of credit and (ii) a $100.0 million sub-facility for swingline loans. The Credit Facility also provides that Co-Borrowers may from time to time (i) incur incremental term loans and (ii) request an increase in the revolving commitments under the Credit Facility, together up to an aggregate of $350.0 million, subject to the approval of the lenders providing such term loans or revolving commitment increase. The Credit Facility contains an unconditional and irrevocable guaranty of all obligations of Co-Borrowers under the Credit Facility by the current and future guarantors. Premier is not a guarantor under the Credit Facility. At December 31, 2023, the Company had no outstanding borrowings under the Credit Facility with $995.0 million of available borrowing capacity after reductions for outstanding letters of credit. At June 30, 2023, the Company had $215.0 million in outstanding borrowings under the Credit Facility with $785.0 million of available borrowing capacity after reductions for outstanding borrowings and outstanding letters of credit. For the six months ended December 31, 2023, the Company had no new borrowings and repaid $215.0 million of outstanding borrowings under the Credit Facility. At both December 31, 2023 and June 30, 2023, the annual commitment fee, based on the actual daily unused amount of commitments under the Credit Facility, was 0.125%. At June 30, 2023, the weighted average interest rate on outstanding borrowings under the Credit Facility was 6.470%. The Company was in compliance with all covenants at December 31, 2023 and June 30, 2023. Notes Payable Notes Payable to Former Limited Partners At December 31, 2023, the Company had $151.6 million of notes payable to former LPs, net of discounts on notes payable of $2.4 million, of which $100.6 million was recorded to current portion of notes payable to former limited partners in the accompanying Condensed Consolidated Balance Sheets. At June 30, 2023, the Company had $201.2 million of notes payable to former LPs, net of discounts on notes payable of $4.2 million, of which $99.7 million was recorded to current portion of notes payable to former limited partners in the accompanying Condensed Consolidated Balance Sheets. The notes payable to former LPs were issued in connection with the early termination of the TRA as part of the August 2020 Restructuring. Although the notes payable to former LPs are non-interest bearing, pursuant to GAAP requirements, they were recorded net of imputed interest at a fixed annual rate of 1.8%. Other At December 31, 2023 and June 30, 2023, the Company had $1.0 million and $2.3 million in other notes payable, respectively, of which $1.0 million and $1.5 million, respectively, were included in current portion of long-term debt in the accompanying Condensed Consolidated Balance Sheets. Other notes payable do not bear interest and generally have stated maturities of three

LIABILITY RELATED TO THE SALE O

LIABILITY RELATED TO THE SALE OF FUTURE REVENUES	6 Months Ended
	Dec. 31, 2023
Other Liabilities Disclosure [Abstract]
Liability Related To The Sale Of Future Revenues	(9) LIABILITY RELATED TO THE SALE OF FUTURE REVENUES Sale of Non-Healthcare GPO Member Contracts On July 25, 2023 (the “Closing Date”), the Company sold the equity interest in its wholly-owned subsidiary, Non-Healthcare Holdings, LLC, pursuant to an equity purchase agreement with OMNIA (“Equity Purchase Agreement”) for an initial base purchase price of $689.2 million. The initial base purchase price was subject to certain post-closing purchase price adjustments, and pursuant to the Equity Purchase Agreement at closing, OMNIA paid the company $523.2 million in cash and deposited $166.0 million in cash into escrow. The release of the escrow and determination of the final total purchase price is subject to certain members agreeing to certain consents and certain related business performance measurements. As of December 31, 2023, the Company has received cash of $629.8 million, including the closing payment and payments out of escrow based on post-closing adjustments through that date. The Company is estimating the final total purchase price to be up to $740.0 million through the continued release of funds from escrow and additional payments from OMNIA based on subsequent post-closing adjustments. The final total estimated purchase price has been reduced from previous estimates taking into account certain post-closing adjustments and remains subject to additional adjustments. See Note 13 - Income Taxes for further income tax considerations on cash proceeds received as of December 31, 2023. Pursuant to the terms of the Equity Purchase Agreement, OMNIA acquired Premier’s non-healthcare GPO member agreements which includes the associated net cash flows generated from administrative fees from purchasing on supplier contracts. In conjunction with the execution of the Equity Purchase Agreement, the Company and OMNIA entered into a 10 year channel partnership agreement (the “Channel Agreement”) pursuant to which OMNIA’s existing and newly acquired members will have access to Premier’s supplier portfolio in which 100% of the administrative fees generated will be remitted to OMNIA. Under the terms of the Channel Agreement, although the Company sold the rights to retain future net administrative fees from the non-healthcare GPO member agreements, the Company continues to maintain significant involvement in the generation of the gross administrative fees through its supplier portfolio. Additionally, the Company has the right to retain an “Access Fee” over the term of the Channel Agreement based on the continued growth of the non-healthcare GPO member agreements. Due to the Company’s continued involvement, the Company will continue to record net administrative fees from the non-healthcare agreements as revenue. The Company recorded the net proceeds from this transaction as a liability related to the sale of future revenues on the accompanying Condensed Consolidated Balance Sheets, which will be amortized using the effective interest method over the remaining contractual life of the Channel Agreement. The Company has no obligation to pay OMNIA any principal or interest balance on the sale of future revenues liability outside of the cash flows generated for administrative fees from the Channel Agreement. As payments for administrative fees are remitted to OMNIA, the balance of Premier’s obligation will effectively be repaid over the term of the Channel Agreement. To determine the amortization of the liability related to the sale of future revenues, the Company estimated the total future revenues expected to be remitted over the life of the Channel Agreement less any Access Fees retained by the Company. Future payments will result in the reduction of the liability related to the sale of future revenues less interest expense. The Company calculated the effective interest rate based on future expected revenue, which resulted in an effective annual interest rate of 2.5%. The Company will maintain a consistent interest rate throughout the life of the Channel Agreement. This estimate contains significant assumptions that impact both the amount of liability and interest expense recorded over the life of the Channel Agreement. The Company will assess the estimated future cash flows related to the sale of future revenues for material changes at each reporting period. There are several factors that could materially affect the amount and timing of payments to OMNIA, and correspondingly, the amount of interest expense recorded, most of which are outside the Company’s control. Such factors include, but are not limited to, retention by OMNIA of the non-healthcare GPO members, growing the existing portfolio of non-healthcare members and general competition of GPOs. Changes to any of these factors could result in an increase or decrease to expected future revenue and interest expense related to the sale of future revenues. To the extent the amount or timing of future payments varies materially from the original estimate, the Company will make a cumulative adjustment to the carrying amount of the liability, which will be recorded as a non-cash gain or loss in other income in the Condensed Consolidated Statements of Income and Comprehensive Income. For the three and six months ended December 31, 2023, the Company did not record cumulative adjustments to the carrying amount of the liability. At December 31, 2023, the Company had $615.2 million of debt related to the sale of non-healthcare GPO member contracts and associated future revenues, of which $35.8 million was recorded to current portion of the liability related to the sale of future revenues in the accompanying Condensed Consolidated Balance Sheets. For the three and six months ended December 31, 2023, the Company recorded $14.8 million and $26.5 million in revenue that was sold to OMNIA in net administrative fees and $3.9 million and $6.4 million in interest expense related to the sale of future revenues in interest expense, net in the Condensed Consolidated Statements of Income and Comprehensive Income. The following table shows the activity of the liability related to the sale of future revenues since the transaction inception through December 31, 2023 (in thousands): December 31, 2023 Proceeds from the sale of future revenues $ 523,198 Proceeds from the release of escrow funds 106,622 Imputed interest expense associated with the sale of future revenues 6,408 Payments against the liability related to the sale of future revenues (21,019) Liability related to the sale of future revenues $ 615,209

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	Dec. 31, 2023
Equity [Abstract]
STOCKHOLDERS' EQUITY	(10) STOCKHOLDERS' EQUITY As of December 31, 2023, there were 119,816,484 shares of the Company’s Class A common stock, par value $0.01 per share, outstanding. During the six months ended December 31, 2023, the Company paid cash dividends of $0.21 per share on outstanding shares of Class A common stock to stockholders on each of September 15, 2023 and December 15, 2023. On January 25, 2024, the Board of Directors declared a quarterly cash dividend of $0.21 per share, payable on March 15, 2024 to stockholders of record on March 1, 2024.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
EARNINGS PER SHARE	(11) EARNINGS PER SHARE Basic earnings per share is computed by dividing net income attributable to stockholders by the weighted average number of shares of common stock outstanding for the period. Except when the effect would be anti-dilutive, the diluted earnings per share calculation, which is calculated using the treasury stock method, includes the impact of all potentially issuable dilutive shares of Class A common stock. The following table provides a reconciliation of the numerator and denominator used for basic and diluted earnings per share (in thousands, except per share amounts): Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Numerator for basic and diluted earnings per share: Net income attributable to stockholders (a) $ 54,302 $ 64,046 $ 99,063 $ 106,762 Denominator for earnings per share: Basic weighted average shares outstanding 119,702 118,787 119,523 118,569 Effect of dilutive securities: (b) Stock options — 86 — 116 Restricted stock units 355 466 444 514 Performance share awards — 313 128 643 Diluted weighted average shares 120,057 119,652 120,095 119,842 Earnings per share attributable to stockholders: Basic $ 0.45 $ 0.54 $ 0.83 $ 0.90 Diluted $ 0.45 $ 0.54 $ 0.82 $ 0.89 _________________________________ (a) Net income attributable to stockholders was calculated as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Net income $ 52,866 $ 64,374 $ 95,276 $ 107,333 Net loss (income) attributable to non-controlling interest 1,436 (328) 3,787 (571) Net income attributable to stockholders $ 54,302 $ 64,046 $ 99,063 $ 106,762 (b) For both the three and six months ended December 31, 2023, 1.3 million stock options and restricted stock units were excluded from diluted weighted average shares outstanding as their effects were anti-dilutive. Additionally, for both the three and six months ended December 31, 2023, 0.1 million performance share awards were excluded from diluted weighted average shares outstanding as the awards had not satisfied the applicable performance criteria at the end of the period. For the three and six months ended December 31, 2022, the effect of 0.5 million and 0.7 million stock options and restricted stock units, respectively, was excluded from diluted weighted average shares outstanding as it had an anti-dilutive effect. Additionally, for the three and six months ended December 31, 2022, the effect of 0.2 million and 0.3 million performance share awards, respectively, was excluded from diluted weighted average shares outstanding as the awards had not satisfied the applicable performance criteria at the end of the period.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	6 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [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. The associated deferred tax benefit was calculated at a tax rate of 25% and 26% for the six months ended December 31, 2023 and 2022, respectively, which represents the expected effective income tax rate at the time of the compensation expense deduction and differs from the Company’s current effective income tax rate. See Note 13 - Income Taxes for further information related to income taxes. Stock-based compensation expense and the resulting deferred tax benefits were as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Pre-tax stock-based compensation expense $ 8,378 $ 2,679 $ 15,070 $ 9,815 Less: deferred tax benefit (a) 1,382 1,060 2,926 2,007 Total stock-based compensation expense, net of tax $ 6,996 $ 1,619 $ 12,144 $ 7,808 _________________________________ (a) For the three months ended December 31, 2023 and 2022, the deferred tax benefit was reduced by $0.8 million and increased by $0.4 million, respectively, attributable to stock-based compensation expense that is nondeductible for tax purposes pursuant to Section 162(m) as amended by the Tax Cuts and Jobs Act of 2017. For the six months ended December 31, 2023 and 2022, the deferred tax benefit was reduced by $0.9 million and $0.5 million, respectively, attributable to stock-based compensation expense that is nondeductible for tax purposes pursuant to Section 162(m) as amended by the Tax Cuts and Jobs Act of 2017. 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”) provided for grants of up to 14.8 million shares of Class A common stock, all of which were eligible to be issued as non-qualified stock options, incentive stock options, stock appreciation rights, restricted stock, restricted stock units or performance share awards. On September 24, 2023, the 2013 Equity Incentive Plan expired; no new grants will be issued under the plan. Premier 2023 Equity Incentive Plan The Premier 2023 Equity Incentive Plan (the “2023 Equity Incentive Plan”), which became effective December 1, 2023 upon approval of Premier’s stockholders, provides for grants of up to 6.0 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 shares, restricted stock units or performance share awards. As of December 31, 2023, there were approximately 5.9 million shares available for grant under the 2023 Equity Incentive Plan. The following table includes information related to restricted stock, performance share awards and stock options granted under either the 2013 Equity Incentive Plan or the 2023 Equity Incentive Plan for the six months ended December 31, 2023: 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, 2023 1,847,790 $ 33.11 1,470,824 $ 33.08 465,322 $ 33.15 Granted 1,095,834 21.61 684,026 18.70 — — Vested/exercised (356,070) 32.07 (458,905) 29.18 — — Forfeited (148,959) 29.83 (92,980) 31.32 (6,811) 32.22 Outstanding at December 31, 2023 2,438,595 $ 28.30 1,602,965 $ 28.16 458,511 $ 33.16 Stock options outstanding and exercisable at December 31, 2023 458,511 $ 33.16 Restricted stock units and restricted stock awards issued prior to June 1, 2023 generally vest over a three-year period for employees and a one-year period for directors. Beginning June 1, 2023, restricted stock units and restricted stock awards issued to employees generally vest annually over the service period. Performance share awards issued and outstanding generally vest at the end of a three-year period subject to whether and to what extent performance targets are met. Stock options generally vest in equal annual installments over three years. Stock options have a term of ten years from the date of grant. Vested stock options will generally expire twelve months after an employee’s termination with the Company; however, in certain termination circumstances, vested stock options will expire 90 days after an employee’s termination with the Company. Unrecognized stock-based compensation expense at December 31, 2023 was as follows (in thousands): Unrecognized Stock-Based Compensation Expense Weighted Average Amortization Period Restricted stock $ 42,883 2.2 years Performance share awards 20,721 2.1 years Total unrecognized stock-based compensation expense $ 63,604 2.2 years At December 31, 2023, there was no unrecognized stock-based compensation expense for outstanding stock options. There were no options exercised during the six months ended December 31, 2023, and the stock options outstanding and exercisable at December 31, 2023 had zero aggregate intrinsic value.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	(13) INCOME TAXES Income tax expense for the three months ended December 31, 2023 and 2022 was $19.3 million and $23.8 million, respectively, which reflects effective tax rates of 27% for both periods. Income tax expense for the six months ended December 31, 2023 and 2022 was $33.2 million and $42.5 million, respectively, which reflects effective tax rates of 26% and 28%, respectively. The change in the effective tax rate for the six months ended December 31, 2023 compared to the prior year period is primarily related to changes in stock-based compensation expense, state law repricing and statute of limitation release on uncertain tax positions. As of December 31, 2023, total tax liabilities included $46.9 million within other current liabilities in the accompanying Condensed Consolidated Balance Sheets. During the three and six months ended December 31, 2023, the Company recorded $10.1 million and $154.0 million cash tax obligations, respectively, associated with the sale of non-healthcare GPO member contracts and associated future revenues to OMNIA. As of December 31, 2023, the Company has made payments of $138.5 million for taxes related to the proceeds received from the sale of future revenues to OMNIA. The remaining $15.5 million will be paid during the remainder of fiscal year 2024. Additionally, during the three and six months ended December 31, 2023, the Company recorded offsetting deferred tax assets of $10.4 million and $154.7 million to be recorded to income tax expense as the Company recognizes revenue associated with non-healthcare GPO member contracts.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	(14) COMMITMENTS AND CONTINGENCIES Operating Leases Operating lease expense for the three months ended December 31, 2023 and 2022 was $2.4 million and $2.5 million, respectively. Operating lease expense for the six months ended December 31, 2023 and 2022 was $4.9 million and $5.0 million, respectively. As of December 31, 2023, the weighted average remaining lease term was 2.4 years, and the weighted average discount rate was 4%. Future minimum lease payments under noncancellable operating leases with initial lease terms in excess of one year were as follows (in thousands): December 31, 2023 June 30, 2023 2024 (a) $ 6,256 $ 12,381 2025 12,389 12,389 2026 9,005 9,005 2027 (b) 1,324 1,324 Total future minimum lease payments 28,974 35,099 Less: imputed interest 1,345 1,947 Total operating lease liabilities (c) $ 27,629 $ 33,152 _________________________________ (a) As of December 31, 2023, future minimum lease payments are for the period from January 1, 2024 to June 30, 2024. (b) There are no future lease payment obligations after 2027. (c) As of December 31, 2023, total operating lease liabilities included $11.6 million within other current liabilities in the Condensed Consolidated Balance Sheets. Other Matters The Company is not currently involved in any litigation it believes to be material. The Company is periodically involved in litigation, arising in the ordinary course of business or otherwise, which from time to time may include stockholder derivative or other similar litigation, claims relating to commercial, product liability, tort and personal injury, employment, antitrust, intellectual property, or other regulatory matters. If current or future government regulations, including but not limited to 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 regulatory inquiries or investigations, 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	6 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
SEGMENTS	(15) 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, supply chain co-management, purchased services and direct sourcing activities. The Performance Services segment consists of three sub-brands: PINC AI , the Company’s technology and services platform; Contigo Health , the Company’s direct-to-employer business; and Remitra , the Company’s digital invoicing and payables automation business. The following table presents disaggregated revenue by business segment and underlying source (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Net revenue: Supply Chain Services Net administrative fees $ 149,563 $ 154,423 $ 298,590 $ 304,429 Software licenses, other services and support 12,511 14,104 23,697 24,931 Services and software licenses 162,074 168,527 322,287 329,360 Products 55,781 66,993 106,366 125,854 Total Supply Chain Services (a) 217,855 235,520 428,653 455,214 Performance Services Software licenses, other services and support SaaS-based products subscriptions 43,565 49,664 88,905 97,412 Consulting services 21,921 18,514 45,689 35,876 Software licenses 20,868 30,804 35,809 36,797 Other (b) 30,609 25,133 54,566 48,219 Total Performance Services (a) 116,963 124,115 224,969 218,304 Total segment net revenue 334,818 359,635 653,622 673,518 Eliminations (a) (73) (9) (125) (19) Net revenue $ 334,745 $ 359,626 $ 653,497 $ 673,499 _________________________________ (a) Includes intersegment revenue that is eliminated in consolidation. Intersegment revenue is not separately identified in Segments as the amounts are not material. (b) Includes revenue from Contigo Health, Remitra and other PINC AI revenue. Additional segment information related to depreciation and amortization expense, capital expenditures and total assets was as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Depreciation and amortization expense (a) : Supply Chain Services $ 13,795 $ 13,610 $ 27,368 $ 27,860 Performance Services 16,927 18,802 34,269 36,218 Corporate 2,057 2,074 4,158 4,299 Total depreciation and amortization expense $ 32,779 $ 34,486 $ 65,795 $ 68,377 Capital expenditures: Supply Chain Services $ 15,251 $ 6,280 $ 26,165 $ 13,015 Performance Services 12,547 13,079 21,988 25,265 Corporate — 127 915 136 Total capital expenditures $ 27,798 $ 19,486 $ 49,068 $ 38,416 December 31, 2023 June 30, 2023 Total assets: Supply Chain Services $ 1,677,505 $ 1,317,076 Performance Services 1,241,943 1,209,353 Corporate 913,024 845,062 Total assets 3,832,472 3,371,491 Eliminations (b) 56 (4) Total assets, net $ 3,832,528 $ 3,371,487 _________________________________ (a) Includes amortization of purchased intangible assets. (b) Includes eliminations of intersegment transactions which occur during the ordinary course of business. 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 less cost of revenue and operating expenses directly attributable to the segment excluding depreciation and amortization, amortization of purchased intangible assets, merger and acquisition-related expense 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. General and administrative corporate expenses that are not specific to a particular segment are not included in the calculation of Segment Adjusted EBITDA. Segment Adjusted EBITDA also excludes any income and expense that has been classified as discontinued operations. The Company has revised the definition for Segment Adjusted EBITDA from the definition reported in the 2023 Annual Report to exclude the impact of equity earnings in unconsolidated affiliates. For comparability purposes, prior year non-GAAP measures are presented based on the current definition. 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 unaudited Segment Adjusted EBITDA, a Non-GAAP financial measure, is as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Income before income taxes $ 72,144 $ 88,139 $ 128,492 $ 149,867 Equity in net loss (income) of unconsolidated affiliates (a) 666 (1,674) 2,392 (9,917) Interest (income) expense, net (2,438) 4,631 (2,633) 7,490 Other income, net (4,679) (2,930) (3,587) (766) Operating income 65,693 88,166 124,664 146,674 Depreciation and amortization 20,267 21,439 40,595 44,878 Amortization of purchased intangible assets 12,512 13,047 25,200 23,499 Stock-based compensation (b) 8,495 2,801 15,388 10,150 Acquisition- and disposition-related expenses 1,198 3,138 7,403 5,298 Strategic initiative and financial restructuring-related expenses 1,284 7,527 3,030 9,046 Deferred compensation plan expense (c) 4,605 2,659 3,480 289 Other reconciling items, net 74 85 107 165 Non-GAAP Adjusted EBITDA (d) $ 114,128 $ 138,862 $ 219,867 $ 239,999 Segment Non-GAAP Adjusted EBITDA: Supply Chain Services (e) $ 114,491 $ 126,315 $ 229,465 $ 239,504 Performance Services (e) 30,955 43,205 52,729 62,336 Corporate (31,318) (30,658) (62,327) (61,841) Non-GAAP Adjusted EBITDA $ 114,128 $ 138,862 $ 219,867 $ 239,999 _________________________________ (a) Refer to Note 4 - Investments for more information. (b) Includes non-cash employee stock-based compensation expense and stock purchase plan expense of $0.1 million for both the three months ended December 31, 2023 and 2022 and $0.3 million for both the six months ended December 31, 2023 and 2022. (c) Represents changes in deferred compensation plan liabilities resulting from realized and unrealized gains and losses and dividend income on deferred compensation plan assets. (d) The definition for Non-GAAP Adjusted EBITDA was revised from the definition reported in the 2023 Annual Report to exclude the impact of equity earnings in unconsolidated affiliates. For comparability purposes, prior year non-GAAP financial measures are presented based on the current definition. (e) Includes intersegment revenue which is eliminated in consolidation.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	(16) SUBSEQUENT EVENTS On February 5, 2024, the Company entered into an accelerated share repurchase agreement (the “ASR Agreement”) with Bank of America, N.A. (“Bank of America”) to repurchase an aggregate of $400.0 million of shares of the Company’s Class A common stock (“common stock”). Under the terms of the ASR Agreement, the Company will make a payment of $400.0 million to Bank of America and, by February 9, 2024, will receive initial deliveries of approximately $320.0 million in common stock based on the closing price on February 7, 2024, with the final settlement expected to be completed in the first quarter of fiscal year 2025.

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The accompanying condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the SEC and in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and include the assets, liabilities, revenues and expenses of all majority-owned subsidiaries over which the Company exercised control and when applicable, entities for which the Company had a controlling financial interest or was the primary beneficiary. All intercompany transactions have been eliminated upon consolidation. 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, consisting of normal recurring adjustments, unless otherwise disclosed. Certain amounts in prior periods have been reclassified to conform to the current period presentation. 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 2023 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, but not limited to, estimates for net administrative fees revenue, software licenses, other services and support revenue, contract assets, deferred revenue, contract costs, allowances for credit losses, reserves for net realizable value of inventory, obsolete inventory, useful lives of property and equipment, stock-based compensation, deferred tax balances including valuation allowances on deferred tax assets, uncertain tax positions, values of investments not publicly traded, projected future cash flows used in the evaluation of asset impairments, values of call rights, values of earn-out liabilities 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.
Liability Related to the Sale of Future Revenues	Liability Related to the Sale of Future Revenues The Company accounts for the sale of future revenues as a liability, with both current and non-current portions. In order to determine the timing of the reduction in debt associated with the sale of future revenues, the Company estimates the total future revenues expected to be remitted to the purchaser. The Company recognizes interest expense based on an estimated effective annual interest rate. The Company determines the effective interest rate based on recognized and expected future revenue and maintains a consistent interest rate throughout the life of the agreement. This estimate contains significant assumptions that impact both the amount of debt and the interest expense recorded over the life of the agreement. To the extent the amount or timing of future payments varies materially from the original estimate, the Company will make a cumulative adjustment to the carrying amount of the debt, which will be recorded as a non-cash gain or loss in other income in the Condensed Consolidated Statements of Income and Comprehensive Income.

ORGANIZATION AND BASIS OF PRE_2

ORGANIZATION AND BASIS OF PRESENTATION (Tables)	6 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Supplemental Cash Flow Information	The following table presents supplementary cash flows information for the six months ended December 31, 2023 and 2022 (in thousands): Six Months Ended December 31, 2023 2022 Supplemental schedule of non-cash investing and financing activities: Accrued dividend equivalents $ 956 $ 519 Non-cash additions to property and equipment — 84

INVESTMENTS (Tables)

INVESTMENTS (Tables)	6 Months Ended
	Dec. 31, 2023
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): Equity in Net (Loss) Income Three Months Ended Six Months Ended Carrying Value December 31, December 31, December 31, 2023 June 30, 2023 2023 2022 2023 2022 FFF $ 136,080 $ 136,080 $ — $ 518 $ — $ 7,705 Exela 30,855 32,905 (631) 632 (2,050) 770 Qventus 16,000 16,000 — — — — Prestige 15,465 15,503 (157) 291 (38) 471 Other investments 31,034 31,338 122 233 (304) 971 Total investments $ 229,434 $ 231,826 $ (666) $ 1,674 $ (2,392) $ 9,917

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Dec. 31, 2023
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): Fair Value of Financial Assets and Liabilities Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs December 31, 2023 Cash equivalents $ 147,592 $ 147,592 $ — $ — Deferred compensation plan assets 55,189 55,189 — — Total assets 202,781 202,781 — — Earn-out liabilities 27,876 — — 27,876 Total liabilities $ 27,876 $ — $ — $ 27,876 June 30, 2023 Cash equivalents $ 77 $ 77 $ — $ — Deferred compensation plan assets 55,566 55,566 — — Total assets 55,643 55,643 — — Earn-out liabilities 26,603 — — 26,603 Total liabilities $ 26,603 $ — $ — $ 26,603
Schedule of Fair Value Measurement Inputs and Valuation Assumptions	Input assumptions As of December 31, 2023 As of June 30, 2023 Probability of transferred member renewal percentage < 50% — % 5.0 % Probability of transferred member renewal percentage between 50% and 65% — % 10.0 % Probability of transferred member renewal percentage between 65% and 80% — % 25.0 % Probability of transferred member renewal percentage > 80% 100.0 % 60.0 % Credit spread 1.1 % 1.6 % _________________________________ (a) The Acurity and Nexera earn-out liability was initially valued as of February 28, 2020.
Schedule of Reconciliation of Earn-out Liabilities	A reconciliation of the Company’s earn-out liabilities is as follows (in thousands): Beginning Balance Purchases (Settlements) (a) (Gain)/Loss (b) Ending Balance Three Months Ended December 31, 2023 Earn-out liabilities $ 29,861 $ (1,375) $ (610) $ 27,876 Total Level 3 liabilities $ 29,861 $ (1,375) $ (610) $ 27,876 Three Months Ended December 31, 2022 Earn-out liabilities $ 22,361 $ 1,460 $ 277 $ 24,098 Total Level 3 liabilities $ 22,361 $ 1,460 $ 277 $ 24,098 Six Months Ended December 31, 2023 Earn-out liabilities $ 26,603 $ (1,375) $ 2,648 $ 27,876 Total Level 3 liabilities $ 26,603 $ (1,375) $ 2,648 $ 27,876 Six Months Ended December 31, 2022 Earn-out liabilities $ 22,789 $ 1,460 $ (151) $ 24,098 Total Level 3 liabilities $ 22,789 $ 1,460 $ (151) $ 24,098 _________________________________ (a) Settlements for the three and six months ended December 31, 2023 represent payments on earn-out liabilities. Purchases for the three and six months ended December 31, 2022 includes an earn-out which had not been earned or paid as of December 31, 2022. (b) Gains on level 3 liability balances will decrease the liability ending balance, and losses on level 3 liability balances will increase the liability ending balance.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	6 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	Intangible assets, net consisted of the following (in thousands): December 31, 2023 June 30, 2023 Useful Life Gross Accumulated Amortization Net Gross Accumulated Amortization Net Member relationships 14.7 years $ 386,100 $ (149,831) $ 236,269 $ 386,100 $ (136,751) $ 249,349 Provider network 15.0 years 106,500 (8,579) 97,921 106,500 (5,029) 101,471 Technology 7.1 years 99,317 (70,721) 28,596 99,317 (67,581) 31,736 Customer relationships 9.4 years 57,930 (34,294) 23,636 57,930 (31,846) 26,084 Trade names 6.7 years 18,920 (13,029) 5,891 18,920 (11,983) 6,937 Non-compete agreements 5.2 years 17,715 (11,091) 6,624 17,715 (9,738) 7,977 Other (a) 9.3 years 9,232 (3,339) 5,893 9,232 (2,756) 6,476 Total $ 695,714 $ (290,884) $ 404,830 $ 695,714 $ (265,684) $ 430,030 _________________________________ (a) Includes a $1.0 million indefinite-lived asset. The net carrying value of intangible assets by segment was as follows (in thousands): December 31, 2023 June 30, 2023 Supply Chain Services $ 253,920 $ 269,710 Performance Services (a) 150,910 160,320 Total intangible assets, net $ 404,830 $ 430,030 _________________________________ (a) Includes a $1.0 million indefinite-lived asset.
Schedule of Indefinite-Lived Intangible Assets	Intangible assets, net consisted of the following (in thousands): December 31, 2023 June 30, 2023 Useful Life Gross Accumulated Amortization Net Gross Accumulated Amortization Net Member relationships 14.7 years $ 386,100 $ (149,831) $ 236,269 $ 386,100 $ (136,751) $ 249,349 Provider network 15.0 years 106,500 (8,579) 97,921 106,500 (5,029) 101,471 Technology 7.1 years 99,317 (70,721) 28,596 99,317 (67,581) 31,736 Customer relationships 9.4 years 57,930 (34,294) 23,636 57,930 (31,846) 26,084 Trade names 6.7 years 18,920 (13,029) 5,891 18,920 (11,983) 6,937 Non-compete agreements 5.2 years 17,715 (11,091) 6,624 17,715 (9,738) 7,977 Other (a) 9.3 years 9,232 (3,339) 5,893 9,232 (2,756) 6,476 Total $ 695,714 $ (290,884) $ 404,830 $ 695,714 $ (265,684) $ 430,030 _________________________________ (a) Includes a $1.0 million indefinite-lived asset. The net carrying value of intangible assets by segment was as follows (in thousands): December 31, 2023 June 30, 2023 Supply Chain Services $ 253,920 $ 269,710 Performance Services (a) 150,910 160,320 Total intangible assets, net $ 404,830 $ 430,030 _________________________________ (a) Includes a $1.0 million indefinite-lived asset.
Schedule of Estimated Aggregate Amortization Expense	The estimated amortization expense for each of the next five fiscal years and thereafter is as follows (in thousands): 2024 (a) $ 24,562 2025 48,136 2026 46,892 2027 44,240 2028 39,197 Thereafter 200,803 Total amortization expense $ 403,830 (a) As of December 31, 2023, estimated amortization expense is for the period from January 1, 2024 to June 30, 2024.

DEBT AND NOTES PAYABLE (Tables)

DEBT AND NOTES PAYABLE (Tables)	6 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of Long-Term Debt and Notes Payable	Long-term debt and notes payable consisted of the following (in thousands): December 31, 2023 June 30, 2023 Credit Facility $ — $ 215,000 Notes payable to former limited partners, net of discount 151,588 201,188 Other notes payable 1,008 2,280 Total debt and notes payable 152,596 418,468 Less: current portion (101,602) (316,211) Total long-term debt and notes payable $ 50,994 $ 102,257

LIABILITY RELATED TO THE SALE_2

LIABILITY RELATED TO THE SALE OF FUTURE REVENUES (Tables)	6 Months Ended
	Dec. 31, 2023
Other Liabilities Disclosure [Abstract]
Schedule of Activity of Liability Related to the Sale of Future Revenues	The following table shows the activity of the liability related to the sale of future revenues since the transaction inception through December 31, 2023 (in thousands): December 31, 2023 Proceeds from the sale of future revenues $ 523,198 Proceeds from the release of escrow funds 106,622 Imputed interest expense associated with the sale of future revenues 6,408 Payments against the liability related to the sale of future revenues (21,019) Liability related to the sale of future revenues $ 615,209

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Schedule of Reconciliation of Common Shares Used for Earnings Per Share	The following table provides a reconciliation of the numerator and denominator used for basic and diluted earnings per share (in thousands, except per share amounts): Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Numerator for basic and diluted earnings per share: Net income attributable to stockholders (a) $ 54,302 $ 64,046 $ 99,063 $ 106,762 Denominator for earnings per share: Basic weighted average shares outstanding 119,702 118,787 119,523 118,569 Effect of dilutive securities: (b) Stock options — 86 — 116 Restricted stock units 355 466 444 514 Performance share awards — 313 128 643 Diluted weighted average shares 120,057 119,652 120,095 119,842 Earnings per share attributable to stockholders: Basic $ 0.45 $ 0.54 $ 0.83 $ 0.90 Diluted $ 0.45 $ 0.54 $ 0.82 $ 0.89 _________________________________ (a) Net income attributable to stockholders was calculated as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Net income $ 52,866 $ 64,374 $ 95,276 $ 107,333 Net loss (income) attributable to non-controlling interest 1,436 (328) 3,787 (571) Net income attributable to stockholders $ 54,302 $ 64,046 $ 99,063 $ 106,762 (b) For both the three and six months ended December 31, 2023, 1.3 million stock options and restricted stock units were excluded from diluted weighted average shares outstanding as their effects were anti-dilutive. Additionally, for both the three and six months ended December 31, 2023, 0.1 million performance share awards were excluded from diluted weighted average shares outstanding as the awards had not satisfied the applicable performance criteria at the end of the period. For the three and six months ended December 31, 2022, the effect of 0.5 million and 0.7 million stock options and restricted stock units, respectively, was excluded from diluted weighted average shares outstanding as it had an anti-dilutive effect. Additionally, for the three and six months ended December 31, 2022, the effect of 0.2 million and 0.3 million performance share awards, respectively, was excluded from diluted weighted average shares outstanding as the awards had not satisfied the applicable performance criteria at the end of the period.

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	6 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Stock-Based Compensation Expense and Resulting Tax Benefits	Stock-based compensation expense and the resulting deferred tax benefits were as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Pre-tax stock-based compensation expense $ 8,378 $ 2,679 $ 15,070 $ 9,815 Less: deferred tax benefit (a) 1,382 1,060 2,926 2,007 Total stock-based compensation expense, net of tax $ 6,996 $ 1,619 $ 12,144 $ 7,808 _________________________________ (a) For the three months ended December 31, 2023 and 2022, the deferred tax benefit was reduced by $0.8 million and increased by $0.4 million, respectively, attributable to stock-based compensation expense that is nondeductible for tax purposes pursuant to Section 162(m) as amended by the Tax Cuts and Jobs Act of 2017. For the six months ended December 31, 2023 and 2022, the deferred tax benefit was reduced by $0.9 million and $0.5 million, respectively, attributable to stock-based compensation expense that is nondeductible for tax purposes pursuant to Section 162(m) as amended by the Tax Cuts and Jobs Act of 2017.
Schedule of Information Related to Restricted Stock	The following table includes information related to restricted stock, performance share awards and stock options granted under either the 2013 Equity Incentive Plan or the 2023 Equity Incentive Plan for the six months ended December 31, 2023: 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, 2023 1,847,790 $ 33.11 1,470,824 $ 33.08 465,322 $ 33.15 Granted 1,095,834 21.61 684,026 18.70 — — Vested/exercised (356,070) 32.07 (458,905) 29.18 — — Forfeited (148,959) 29.83 (92,980) 31.32 (6,811) 32.22 Outstanding at December 31, 2023 2,438,595 $ 28.30 1,602,965 $ 28.16 458,511 $ 33.16 Stock options outstanding and exercisable at December 31, 2023 458,511 $ 33.16
Schedule of Information Related to Performance Share Awards	The following table includes information related to restricted stock, performance share awards and stock options granted under either the 2013 Equity Incentive Plan or the 2023 Equity Incentive Plan for the six months ended December 31, 2023: 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, 2023 1,847,790 $ 33.11 1,470,824 $ 33.08 465,322 $ 33.15 Granted 1,095,834 21.61 684,026 18.70 — — Vested/exercised (356,070) 32.07 (458,905) 29.18 — — Forfeited (148,959) 29.83 (92,980) 31.32 (6,811) 32.22 Outstanding at December 31, 2023 2,438,595 $ 28.30 1,602,965 $ 28.16 458,511 $ 33.16 Stock options outstanding and exercisable at December 31, 2023 458,511 $ 33.16
Schedule of Information Related to Stock Options	The following table includes information related to restricted stock, performance share awards and stock options granted under either the 2013 Equity Incentive Plan or the 2023 Equity Incentive Plan for the six months ended December 31, 2023: 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, 2023 1,847,790 $ 33.11 1,470,824 $ 33.08 465,322 $ 33.15 Granted 1,095,834 21.61 684,026 18.70 — — Vested/exercised (356,070) 32.07 (458,905) 29.18 — — Forfeited (148,959) 29.83 (92,980) 31.32 (6,811) 32.22 Outstanding at December 31, 2023 2,438,595 $ 28.30 1,602,965 $ 28.16 458,511 $ 33.16 Stock options outstanding and exercisable at December 31, 2023 458,511 $ 33.16
Schedule of Unrecognized Stock-Based Compensation Expense	Unrecognized stock-based compensation expense at December 31, 2023 was as follows (in thousands): Unrecognized Stock-Based Compensation Expense Weighted Average Amortization Period Restricted stock $ 42,883 2.2 years Performance share awards 20,721 2.1 years Total unrecognized stock-based compensation expense $ 63,604 2.2 years

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	6 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases	Future minimum lease payments under noncancellable operating leases with initial lease terms in excess of one year were as follows (in thousands): December 31, 2023 June 30, 2023 2024 (a) $ 6,256 $ 12,381 2025 12,389 12,389 2026 9,005 9,005 2027 (b) 1,324 1,324 Total future minimum lease payments 28,974 35,099 Less: imputed interest 1,345 1,947 Total operating lease liabilities (c) $ 27,629 $ 33,152 _________________________________ (a) As of December 31, 2023, future minimum lease payments are for the period from January 1, 2024 to June 30, 2024. (b) There are no future lease payment obligations after 2027. (c) As of December 31, 2023, total operating lease liabilities included $11.6 million within other current liabilities in the Condensed Consolidated Balance Sheets.

SEGMENTS (Tables)

SEGMENTS (Tables)	6 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Schedule of Segment Information	The following table presents disaggregated revenue by business segment and underlying source (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Net revenue: Supply Chain Services Net administrative fees $ 149,563 $ 154,423 $ 298,590 $ 304,429 Software licenses, other services and support 12,511 14,104 23,697 24,931 Services and software licenses 162,074 168,527 322,287 329,360 Products 55,781 66,993 106,366 125,854 Total Supply Chain Services (a) 217,855 235,520 428,653 455,214 Performance Services Software licenses, other services and support SaaS-based products subscriptions 43,565 49,664 88,905 97,412 Consulting services 21,921 18,514 45,689 35,876 Software licenses 20,868 30,804 35,809 36,797 Other (b) 30,609 25,133 54,566 48,219 Total Performance Services (a) 116,963 124,115 224,969 218,304 Total segment net revenue 334,818 359,635 653,622 673,518 Eliminations (a) (73) (9) (125) (19) Net revenue $ 334,745 $ 359,626 $ 653,497 $ 673,499 _________________________________ (a) Includes intersegment revenue that is eliminated in consolidation. Intersegment revenue is not separately identified in Segments as the amounts are not material. (b) Includes revenue from Contigo Health, Remitra and other PINC AI revenue. Additional segment information related to depreciation and amortization expense, capital expenditures and total assets was as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Depreciation and amortization expense (a) : Supply Chain Services $ 13,795 $ 13,610 $ 27,368 $ 27,860 Performance Services 16,927 18,802 34,269 36,218 Corporate 2,057 2,074 4,158 4,299 Total depreciation and amortization expense $ 32,779 $ 34,486 $ 65,795 $ 68,377 Capital expenditures: Supply Chain Services $ 15,251 $ 6,280 $ 26,165 $ 13,015 Performance Services 12,547 13,079 21,988 25,265 Corporate — 127 915 136 Total capital expenditures $ 27,798 $ 19,486 $ 49,068 $ 38,416 December 31, 2023 June 30, 2023 Total assets: Supply Chain Services $ 1,677,505 $ 1,317,076 Performance Services 1,241,943 1,209,353 Corporate 913,024 845,062 Total assets 3,832,472 3,371,491 Eliminations (b) 56 (4) Total assets, net $ 3,832,528 $ 3,371,487 _________________________________ (a) Includes amortization of purchased intangible assets. (b) Includes eliminations of intersegment transactions which occur during the ordinary course of business.
Schedule of Reconciliation of Income Before Income Taxes to Segment Adjusted EBITDA	A reconciliation of income before income taxes to unaudited Segment Adjusted EBITDA, a Non-GAAP financial measure, is as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Income before income taxes $ 72,144 $ 88,139 $ 128,492 $ 149,867 Equity in net loss (income) of unconsolidated affiliates (a) 666 (1,674) 2,392 (9,917) Interest (income) expense, net (2,438) 4,631 (2,633) 7,490 Other income, net (4,679) (2,930) (3,587) (766) Operating income 65,693 88,166 124,664 146,674 Depreciation and amortization 20,267 21,439 40,595 44,878 Amortization of purchased intangible assets 12,512 13,047 25,200 23,499 Stock-based compensation (b) 8,495 2,801 15,388 10,150 Acquisition- and disposition-related expenses 1,198 3,138 7,403 5,298 Strategic initiative and financial restructuring-related expenses 1,284 7,527 3,030 9,046 Deferred compensation plan expense (c) 4,605 2,659 3,480 289 Other reconciling items, net 74 85 107 165 Non-GAAP Adjusted EBITDA (d) $ 114,128 $ 138,862 $ 219,867 $ 239,999 Segment Non-GAAP Adjusted EBITDA: Supply Chain Services (e) $ 114,491 $ 126,315 $ 229,465 $ 239,504 Performance Services (e) 30,955 43,205 52,729 62,336 Corporate (31,318) (30,658) (62,327) (61,841) Non-GAAP Adjusted EBITDA $ 114,128 $ 138,862 $ 219,867 $ 239,999 _________________________________ (a) Refer to Note 4 - Investments for more information. (b) Includes non-cash employee stock-based compensation expense and stock purchase plan expense of $0.1 million for both the three months ended December 31, 2023 and 2022 and $0.3 million for both the six months ended December 31, 2023 and 2022. (c) Represents changes in deferred compensation plan liabilities resulting from realized and unrealized gains and losses and dividend income on deferred compensation plan assets. (d) The definition for Non-GAAP Adjusted EBITDA was revised from the definition reported in the 2023 Annual Report to exclude the impact of equity earnings in unconsolidated affiliates. For comparability purposes, prior year non-GAAP financial measures are presented based on the current definition. (e) Includes intersegment revenue which is eliminated in consolidation.

ORGANIZATION AND BASIS OF PRE_3

ORGANIZATION AND BASIS OF PRESENTATION - Narrative (Details)	6 Months Ended
	Dec. 31, 2023 segment brand
Segment Reporting Information [Line Items]
Number of business segments | segment	2
Performance Services
Segment Reporting Information [Line Items]
Number of sub-brands | brand	3

ORGANIZATION AND BASIS OF PRE_4

ORGANIZATION AND BASIS OF PRESENTATION - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Supplemental schedule of non-cash investing and financing activities:
Accrued dividend equivalents	$ 956	$ 519
Non-cash additions to property and equipment	$ 0	$ 84

BUSINESS ACQUISITIONS (Details)

BUSINESS ACQUISITIONS (Details) $ in Thousands	Oct. 13, 2022 USD ($) provider	Dec. 31, 2023 USD ($)	Jun. 30, 2023 USD ($)
Asset Acquisition, Contingent Consideration [Line Items]
Goodwill		$ 1,012,355	$ 1,012,355
TRPN Transferred Assets
Asset Acquisition, Contingent Consideration [Line Items]
Number of TRPN contracts | provider	900,000
Transferring cash	$ 177,500
Escrow account satisfy indemnification obligations	17,800
Fair value of intangible assets acquired	116,600
Goodwill	$ 60,900

INVESTMENTS - Schedule of Inves

INVESTMENTS - Schedule of Investments in Unconsolidated Affiliates (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2023
Schedule of Equity Method Investments [Line Items]
Carrying Value	$ 229,434		$ 229,434		$ 231,826
Equity in Net (Loss) Income	(666)	$ 1,674	(2,392)	$ 9,917
FFF
Schedule of Equity Method Investments [Line Items]
Carrying Value	136,080		136,080		136,080
Equity in Net (Loss) Income	0	518	0	7,705
Exela
Schedule of Equity Method Investments [Line Items]
Carrying Value	30,855		30,855		32,905
Equity in Net (Loss) Income	(631)	632	(2,050)	770
Qventus
Schedule of Equity Method Investments [Line Items]
Carrying Value	16,000		16,000		16,000
Equity in Net (Loss) Income	0	0	0	0
Prestige
Schedule of Equity Method Investments [Line Items]
Carrying Value	15,465		15,465		15,503
Equity in Net (Loss) Income	(157)	291	(38)	471
Other investments
Schedule of Equity Method Investments [Line Items]
Carrying Value	31,034		31,034		$ 31,338
Equity in Net (Loss) Income	$ 122	$ 233	$ (304)	$ 971

INVESTMENTS - Narrative (Detail

INVESTMENTS - Narrative (Details) - health_system	Dec. 31, 2023	Jun. 30, 2023
FFF
Schedule of Equity Method Investments [Line Items]
Ownership interest through subsidiary (as a percent)	49%	49%
Exela | ExPre Holdings, LLC
Schedule of Equity Method Investments [Line Items]
Ownership interest through subsidiary (as a percent)	6%	6%
ExPre Holdings, LLC
Schedule of Equity Method Investments [Line Items]
Ownership interest through subsidiary (as a percent)	15%	15%
Number of member health systems	11	11
Prestige | PRAM Holdings, LLC
Schedule of Equity Method Investments [Line Items]
Ownership interest through subsidiary (as a percent)	20%	20%
PRAM Holdings, LLC
Schedule of Equity Method Investments [Line Items]
Ownership interest through subsidiary (as a percent)	26%	26%
Number of member health systems	16	16
Qventus
Schedule of Equity Method Investments [Line Items]
Ownership interest through subsidiary (as a percent)	7%	7%

FAIR VALUE MEASUREMENTS - Sched

FAIR VALUE MEASUREMENTS - Schedule of Financial Assets and Liabilities (Details) - Recurring - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 147,592	$ 77
Deferred compensation plan assets	55,189	55,566
Total assets	202,781	55,643
Earn-out liabilities	27,876	26,603
Total liabilities	27,876	26,603
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	147,592	77
Deferred compensation plan assets	55,189	55,566
Total assets	202,781	55,643
Earn-out liabilities	0	0
Total liabilities	0	0
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Deferred compensation plan assets	0	0
Total assets	0	0
Earn-out liabilities	0	0
Total liabilities	0	0
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Deferred compensation plan assets	0	0
Total assets	0	0
Earn-out liabilities	27,876	26,603
Total liabilities	$ 27,876	$ 26,603

FAIR VALUE MEASUREMENTS - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details) $ in Thousands	Dec. 31, 2023 USD ($)	Jun. 30, 2023 USD ($)	Aug. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assumed market interest rate (percent)	1.60%	1.60%
Notes payable to former limited partners, net of discount | Notes Payable, Other Payables
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Imputed interest (percent)			1.80%
Discount	$ 2,400	$ 4,200
Acurity, Inc. (“Acurity”) and Nexera, Inc. (“Nexera”)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earn-out liabilities	27,900	$ 23,100
Acurity, Inc. (“Acurity”) and Nexera, Inc. (“Nexera”) | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earn-out liability, low range of outcome	0
Acurity, Inc. (“Acurity”) and Nexera, Inc. (“Nexera”) | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earn-out liability, upper range of outcome	$ 30,000
Acurity, Inc. (“Acurity”) and Nexera, Inc. (“Nexera”) | Credit spread | Valuation Technique, Estimated Future Earnings
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earn-out input assumptions (percent)	0.011	0.016
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earn-out liabilities	$ 27,876	$ 26,603
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earn-out liabilities	0	0
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Imputed interest (percent)			1.80%
Significant Other Observable Inputs (Level 2) | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earn-out liabilities	0	0
Prepaid Expenses and Other Current Assets | Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current portion of deferred compensation plan assets	$ 6,400	$ 5,200

FAIR VALUE MEASUREMENTS - Fair

FAIR VALUE MEASUREMENTS - Fair Value Measurement Input Assumptions (Details) - Valuation Technique, Estimated Future Earnings - Acurity, Inc. (“Acurity”) and Nexera, Inc. (“Nexera”)	Dec. 31, 2023	Jun. 30, 2023
Probability of transferred member renewal percentage less than 50%
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out input assumptions (percent)	0	0.050
Probability of transferred member renewal percentage between 50% and 65%
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out input assumptions (percent)	0	0.100
Probability of transferred member renewal percentage between 65% and 80%
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out input assumptions (percent)	0	0.250
Probability of transferred member renewal percentage greater than 80%
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out input assumptions (percent)	1	0.600
Credit spread
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out input assumptions (percent)	0.011	0.016

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		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Beginning Balance	$ 29,861	$ 22,361	$ 26,603	$ 22,789
Purchases (Settlements)	(1,375)	1,460	(1,375)	1,460
(Gain)/Loss	(610)	277	2,648	(151)
Ending Balance	$ 27,876	$ 24,098	$ 27,876	$ 24,098
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Nonoperating Income (Expense)	Nonoperating Income (Expense)	Nonoperating Income (Expense)	Nonoperating Income (Expense)
Earn-out liabilities
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Beginning Balance	$ 29,861	$ 22,361	$ 26,603	$ 22,789
Purchases (Settlements)	(1,375)	1,460	(1,375)	1,460
(Gain)/Loss	(610)	277	2,648	(151)
Ending Balance	$ 27,876	$ 24,098	$ 27,876	$ 24,098

CONTRACT BALANCES - Contract As

CONTRACT BALANCES - Contract Assets, Deferred Revenue and Capitalized Contract Costs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue recognized			$ 18.9
Revenue recognized from performance obligations satisfied in previous periods	$ (0.8)	$ (0.4)	3.2	$ 2.5
Revenue recognized associated with revised forecasts underlying contracts with variable consideration components	0.5	(0.8)	3.9	(2.1)
Administrative Fees
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue recognized associated with a change in net administration fee revenue	$ (1.3)	$ 0.4	$ (0.7)	$ 4.6

CONTRACT BALANCES - Remaining P

CONTRACT BALANCES - Remaining Performance Obligation (Details) $ in Millions	Dec. 31, 2023 USD ($)
Revenue from Contract with Customer [Abstract]
Transaction price allocated to remaining performance obligation	$ 771.6
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation to be satisfied (percent)	38%
Remaining performance obligation satisfaction period (in months)	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation to be satisfied (percent)	23%
Remaining performance obligation satisfaction period (in months)	12 months

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2023
Goodwill [Line Items]
Goodwill	$ 1,012,355	$ 1,012,355
Contigo Health Reporting Unit
Goodwill [Line Items]
Goodwill impairment	54,400
Direct Sourcing Reporting Unit
Goodwill [Line Items]
Goodwill impairment	2,300
Supply Chain Services
Goodwill [Line Items]
Goodwill	386,200	386,200
Accumulated impairment loss	(2,300)	(2,300)
Performance Services
Goodwill [Line Items]
Goodwill	626,100	626,100
Accumulated impairment loss	$ (54,400)	$ (54,400)

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Gross	$ 695,714	$ 695,714
Accumulated Amortization	(290,884)	(265,684)
Net	$ 404,830	430,030
Member relationships
Finite-Lived Intangible Assets [Line Items]
Useful Life	14 years 8 months 12 days
Gross	$ 386,100	386,100
Accumulated Amortization	(149,831)	(136,751)
Net	$ 236,269	249,349
Provider network
Finite-Lived Intangible Assets [Line Items]
Useful Life	15 years
Gross	$ 106,500	106,500
Accumulated Amortization	(8,579)	(5,029)
Net	$ 97,921	101,471
Technology
Finite-Lived Intangible Assets [Line Items]
Useful Life	7 years 1 month 6 days
Gross	$ 99,317	99,317
Accumulated Amortization	(70,721)	(67,581)
Net	$ 28,596	31,736
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Useful Life	9 years 4 months 24 days
Gross	$ 57,930	57,930
Accumulated Amortization	(34,294)	(31,846)
Net	$ 23,636	26,084
Trade names
Finite-Lived Intangible Assets [Line Items]
Useful Life	6 years 8 months 12 days
Gross	$ 18,920	18,920
Accumulated Amortization	(13,029)	(11,983)
Net	$ 5,891	6,937
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Useful Life	5 years 2 months 12 days
Gross	$ 17,715	17,715
Accumulated Amortization	(11,091)	(9,738)
Net	$ 6,624	7,977
Other
Finite-Lived Intangible Assets [Line Items]
Useful Life	9 years 3 months 18 days
Gross	$ 9,232	9,232
Accumulated Amortization	(3,339)	(2,756)
Net	5,893	6,476
Other
Finite-Lived Intangible Assets [Line Items]
Gross	1,000	1,000
Performance Services
Finite-Lived Intangible Assets [Line Items]
Net	150,910	160,320
Gross	$ 1,000	$ 1,000

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Intangible Assets by Segment (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, net	$ 404,830	$ 430,030
Supply Chain Services
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, net	253,920	269,710
Performance Services
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, net	150,910	160,320
Gross	$ 1,000	$ 1,000

GOODWILL AND INTANGIBLE ASSET_5

GOODWILL AND INTANGIBLE ASSETS - Schedule of Estimated Aggregate Amortization Expense (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 24,562
2025	48,136
2026	46,892
2027	44,240
2028	39,197
Thereafter	200,803
Net	$ 403,830

DEBT AND NOTES PAYABLE - Schedu

DEBT AND NOTES PAYABLE - Schedule of Long-Term Debt and Notes Payable (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023
Debt Instrument [Line Items]
Total debt and notes payable	$ 152,596	$ 418,468
Less: current portion	(101,602)	(316,211)
Total long-term debt and notes payable	50,994	102,257
Credit Facility
Debt Instrument [Line Items]
Total debt and notes payable	0	215,000
Notes Payable | Notes payable to former limited partners, net of discount
Debt Instrument [Line Items]
Total debt and notes payable	151,588	201,188
Notes Payable | Other notes payable
Debt Instrument [Line Items]
Total debt and notes payable	$ 1,008	$ 2,280

DEBT AND NOTES PAYABLE - Credit

DEBT AND NOTES PAYABLE - Credit Facility (Narrative) (Details)		6 Months Ended		7 Months Ended	13 Months Ended
	Dec. 12, 2022 USD ($) extension	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Line of Credit Facility [Line Items]
Outstanding borrowings		$ 152,596,000		$ 418,468,000	$ 152,596,000
Proceeds from credit facility		0	$ 285,000,000
Payments on credit facility		215,000,000	$ 135,000,000
Credit Facility
Line of Credit Facility [Line Items]
Number of available extensions | extension	2
Duration of each available extension	1 year
Maximum borrowing capacity	$ 1,000,000,000
Additional borrowing capacity	350,000,000
Outstanding borrowings		0		215,000,000	0
Available borrowing capacity		995,000,000		$ 785,000,000	$ 995,000,000
Proceeds from credit facility		0
Payments on credit facility		$ 215,000,000
Credit facility, unused capacity commitment fee (percent)				0.125%	0.125%
Weighted average interest rate				6.47%
Letters of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	50,000,000
Swing Line Loan
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 100,000,000

DEBT AND NOTES PAYABLE - Notes

DEBT AND NOTES PAYABLE - Notes Payable (Narrative) (Details) - Notes Payable - USD ($) $ in Millions	6 Months Ended
	Dec. 31, 2023	Jun. 30, 2023	Aug. 31, 2020
Minimum
Debt Instrument [Line Items]
Notes payable, stated maturity period	3 years
Maximum
Debt Instrument [Line Items]
Notes payable, stated maturity period	5 years
Notes payable to former limited partners, net of discount
Debt Instrument [Line Items]
Notes payable	$ 151.6	$ 201.2
Debt discount	2.4	4.2
Notes payable included in current portion of long-term debt	100.6	99.7
Imputed interest (percent)			1.80%
Other notes payable
Debt Instrument [Line Items]
Notes payable	1	2.3
Notes payable included in current portion of long-term debt	$ 1	$ 1.5

LIABILITY RELATED TO THE SALE_3

LIABILITY RELATED TO THE SALE OF FUTURE REVENUES - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended	5 Months Ended	6 Months Ended
	Jul. 25, 2023	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2023	Jun. 30, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Current portion of liability related to the sale of future revenues		$ 35,800	$ 35,800	$ 35,800	$ 0
Non-Healthcare Holdings, LLC
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Estimated purchase price (up to)	$ 689,200	740,000	740,000	740,000
Aggregate consideration	523,200			629,800
Escrow deposit	$ 166,000
Partnership agreement term	10 years
Administrative fees to be remitted (percent)	100%
Liability related to the sale of future revenues		615,209	615,209	615,209
Current portion of liability related to the sale of future revenues		35,800	35,800	35,800
Revenue		14,800		26,500
Imputed interest expense associated with the sale of future revenues		$ 3,900	$ 6,408	$ 6,400
Non-Healthcare Holdings, LLC | Liability Related To The Sale Of Future Revenues
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Interest rate (percent)	2.50%

LIABILITY RELATED TO THE SALE_4

LIABILITY RELATED TO THE SALE OF FUTURE REVENUES (Details) - Non-Healthcare Holdings, LLC $ in Thousands	3 Months Ended	5 Months Ended	6 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from the sale of future revenues		$ 523,198
Proceeds from the release of escrow funds		106,622
Imputed interest expense associated with the sale of future revenues	$ 3,900	6,408	$ 6,400
Payments against the liability related to the sale of future revenues		(21,019)
Liability related to the sale of future revenues	$ 615,209	$ 615,209	$ 615,209

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - $ / shares		3 Months Ended			6 Months Ended
	Jan. 25, 2024	Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2023	Jun. 30, 2023
Class of Stock [Line Items]
Dividends declared (in dollars per share)		$ 0.21	$ 0.21	$ 0.21	$ 0.21
Subsequent Event
Class of Stock [Line Items]
Dividends declared (in dollars per share)	$ 0.21
Class A Common Stock
Class of Stock [Line Items]
Common stock outstanding (in shares)		119,816,484			119,816,484	119,158,483
Common stock, par value (in dollars per share)		$ 0.01			$ 0.01	$ 0.01
Per share amount of dividends (in dollars per share)					$ 0.21

EARNINGS PER SHARE - Reconcilia

EARNINGS 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				6 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2023	Dec. 31, 2022
Numerator for basic and diluted earnings per share:
Net income attributable to stockholders	$ 54,302		$ 64,046		$ 99,063	$ 106,762
Denominator for earnings per share:
Basic weighted average shares outstanding (in shares)	119,702		118,787		119,523	118,569
Effect of dilutive securities:
Diluted weighted average shares (in shares)	120,057		119,652		120,095	119,842
Earnings per share attributable to stockholders:
Basic (in dollars per share)	$ 0.45		$ 0.54		$ 0.83	$ 0.90
Diluted (in dollars per share)	$ 0.45		$ 0.54		$ 0.82	$ 0.89
Net income	$ 52,866	$ 42,410	$ 64,374	$ 42,959	$ 95,276	$ 107,333
Net loss (income) attributable to non-controlling interest	1,436		(328)		3,787	(571)
Net income attributable to stockholders	$ 54,302		$ 64,046		$ 99,063	$ 106,762
Stock options
Effect of dilutive securities:
Effect of dilutive securities (in shares)	0		86		0	116
Restricted stock units
Effect of dilutive securities:
Effect of dilutive securities (in shares)	355		466		444	514
Performance share awards
Effect of dilutive securities:
Effect of dilutive securities (in shares)	0		313		128	643
Earnings per share attributable to stockholders:
Antidilutive securities excluded from computation of earnings per share (in shares)	100		200		100	300
Options and Restricted Stock Units
Earnings per share attributable to stockholders:
Antidilutive securities excluded from computation of earnings per share (in shares)	1,300		500		1,300	700

STOCK-BASED COMPENSATION - Narr

STOCK-BASED COMPENSATION - Narrative (Details) - USD ($) $ in Thousands, shares in Millions		6 Months Ended
	May 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected effective income tax rate (percent)		25%	26%
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)		14.8
Number of shares available for grant (in shares)		0
Unrecognized stock-based compensation expense		$ 63,604
Options exercised in the period (in shares)		0
Intrinsic value of options outstanding and exercisable		$ 0
2023 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of awards authorized for grant (up to) (in shares)		6
Number of shares available for grant (in shares)		5.9
Restricted Stock | 2013 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense		$ 42,883
Performance share awards | 2013 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)		3 years
Unrecognized stock-based compensation expense		$ 20,721
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense		$ 0
Stock options | 2013 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)		3 years
Stock options, expiration period		10 years
Stock options | 2013 Equity Incentive Plan | Share-Based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options, expiration period		12 months
Stock options | 2013 Equity Incentive Plan | Share-Based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options, expiration period		90 days
Employee | Restricted Stock | 2013 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	3 years
Director | Restricted Stock | 2013 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	1 year

STOCK-BASED COMPENSATION - Sche

STOCK-BASED COMPENSATION - Schedule of Stock-based Compensation Expense and Resulting Tax Benefits (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Pre-tax stock-based compensation expense	$ 8,378	$ 2,679	$ 15,070	$ 9,815
Less: deferred tax benefit	1,382	1,060	2,926	2,007
Total stock-based compensation expense, net of tax	6,996	1,619	12,144	7,808
Reduction (increase) in deferred tax benefit	$ 800	$ (400)	$ 900	$ 500

STOCK-BASED COMPENSATION - Sc_2

STOCK-BASED COMPENSATION - Schedule of Information Related to Restricted Stock, Performance Share Awards and Stock Options (Details)	6 Months Ended
	Dec. 31, 2023 $ / shares shares
Restricted Stock
Number of Awards
Outstanding, beginning balance (in shares) | shares	1,847,790
Granted (in shares) | shares	1,095,834
Vested/exercised (in shares) | shares	(356,070)
Forfeited (in shares) | shares	(148,959)
Outstanding, ending balance (in shares) | shares	2,438,595
Weighted Average Fair Value at Grant Date
Outstanding, beginning balance (in dollars per share) | $ / shares	$ 33.11
Granted (in dollars per share) | $ / shares	21.61
Vested/exercised (in dollars per share) | $ / shares	32.07
Forfeited (in dollars per share) | $ / shares	29.83
Outstanding, ending balance (in dollars per share) | $ / shares	$ 28.30
Performance Share Awards
Number of Awards
Outstanding, beginning balance (in shares) | shares	1,470,824
Granted (in shares) | shares	684,026
Vested/exercised (in shares) | shares	(458,905)
Forfeited (in shares) | shares	(92,980)
Outstanding, ending balance (in shares) | shares	1,602,965
Weighted Average Fair Value at Grant Date
Outstanding, beginning balance (in dollars per share) | $ / shares	$ 33.08
Granted (in dollars per share) | $ / shares	18.70
Vested/exercised (in dollars per share) | $ / shares	29.18
Forfeited (in dollars per share) | $ / shares	31.32
Outstanding, ending balance (in dollars per share) | $ / shares	$ 28.16
Stock options
Number of Options
Outstanding, beginning balance (in shares) | shares	465,322
Granted (in shares) | shares	0
Vested/exercised (in shares) | shares	0
Forfeited (in shares) | shares	(6,811)
Outstanding, ending balance (in shares) | shares	458,511
Stock options outstanding and exercisable (in shares) | shares	458,511
Weighted Average Exercise Price
Outstanding, beginning balance (in dollars per share) | $ / shares	$ 33.15
Granted (in dollars per share) | $ / shares	0
Vested/exercised (in dollars per share) | $ / shares	0
Forfeited (in dollars per share) | $ / shares	32.22
Outstanding, ending balance (in dollars per share) | $ / shares	33.16
Stock options outstanding and exercisable (in dollars per share) | $ / shares	$ 33.16

STOCK-BASED COMPENSATION - Sc_3

STOCK-BASED COMPENSATION - Schedule of Unrecognized Stock-Based Compensation Expense (Details) - 2013 Equity Incentive Plan $ in Thousands	6 Months Ended
	Dec. 31, 2023 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Stock-Based Compensation Expense	$ 63,604
Weighted Average Amortization Period	2 years 2 months 12 days
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Stock-Based Compensation Expense	$ 42,883
Weighted Average Amortization Period	2 years 2 months 12 days
Performance share awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Stock-Based Compensation Expense	$ 20,721
Weighted Average Amortization Period	2 years 1 month 6 days

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Contingency [Line Items]
Income tax expense	$ 19,278	$ 23,765		$ 33,216	$ 42,534
Effective tax rate (percent)	27%			26%	28%
Tax liabilities included within other current liabilities	$ 46,900			$ 46,900
Non-Healthcare Holdings, LLC
Income Tax Contingency [Line Items]
Cash tax obligations recorded	10,100			154,000
Tax payments made related to revenues received				138,500
Deferred taxes released to income tax expense	$ 10,400			$ 154,700
Non-Healthcare Holdings, LLC | Forecast
Income Tax Contingency [Line Items]
Tax payments made related to revenues received			$ 15,500

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Operating lease expense	$ 2,400	$ 2,500	$ 4,900	$ 5,000
Weighted average remaining lease term (in years)	2 years 4 months 24 days		2 years 4 months 24 days
Weighted average discount rate (percent)	4%		4%
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Remainder of the year	$ 6,256		$ 6,256
Year one	12,389		12,389		$ 12,381
Year two	9,005		9,005		12,389
Year three	1,324		1,324		9,005
Year four					1,324
Total future minimum lease payments	28,974		28,974		35,099
Less: imputed interest	1,345		1,345		1,947
Total operating lease liabilities	$ 27,629		$ 27,629		$ 33,152
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other current liabilities		Other current liabilities		Other current liabilities
Operating lease liability included in other liabilities, current	$ 11,600		$ 11,600

SEGMENTS - Narrative (Details)

SEGMENTS - Narrative (Details)	6 Months Ended
	Dec. 31, 2023 segment brand
Segment Reporting Information [Line Items]
Number of reportable business segments | segment	2
Performance Services
Segment Reporting Information [Line Items]
Number of sub-brands | brand	3

SEGMENTS - Schedule of Segment

SEGMENTS - Schedule of Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2023
Segment Reporting Information [Line Items]
Net revenue	$ 334,745	$ 359,626	$ 653,497	$ 673,499
Total depreciation and amortization expense	32,779	34,486	65,795	68,377
Total capital expenditures	27,798	19,486	49,068	38,416
Total assets	3,832,528		3,832,528		$ 3,371,487
Net administrative fees
Segment Reporting Information [Line Items]
Net revenue	149,563	154,423	298,590	304,429
Software licenses, other services and support
Segment Reporting Information [Line Items]
Net revenue	129,401	138,210	248,541	243,216
Services and software licenses
Segment Reporting Information [Line Items]
Net revenue	278,964	292,633	547,131	547,645
Products
Segment Reporting Information [Line Items]
Net revenue	55,781	66,993	106,366	125,854
Operating Segments
Segment Reporting Information [Line Items]
Net revenue	334,818	359,635	653,622	673,518
Operating Segments | Supply Chain Services
Segment Reporting Information [Line Items]
Net revenue	217,855	235,520	428,653	455,214
Total depreciation and amortization expense	13,795	13,610	27,368	27,860
Total capital expenditures	15,251	6,280	26,165	13,015
Total assets	1,677,505		1,677,505		1,317,076
Operating Segments | Performance Services
Segment Reporting Information [Line Items]
Net revenue	116,963	124,115	224,969	218,304
Total depreciation and amortization expense	16,927	18,802	34,269	36,218
Total capital expenditures	12,547	13,079	21,988	25,265
Total assets	1,241,943		1,241,943		1,209,353
Operating Segments | Operating Segments and Corporate Non-segment
Segment Reporting Information [Line Items]
Total assets	3,832,472		3,832,472		3,371,491
Operating Segments | Net administrative fees | Supply Chain Services
Segment Reporting Information [Line Items]
Net revenue	149,563	154,423	298,590	304,429
Operating Segments | Software licenses, other services and support | Supply Chain Services
Segment Reporting Information [Line Items]
Net revenue	12,511	14,104	23,697	24,931
Operating Segments | Services and software licenses | Supply Chain Services
Segment Reporting Information [Line Items]
Net revenue	162,074	168,527	322,287	329,360
Operating Segments | Products | Supply Chain Services
Segment Reporting Information [Line Items]
Net revenue	55,781	66,993	106,366	125,854
Operating Segments | SaaS-based products subscriptions | Performance Services
Segment Reporting Information [Line Items]
Net revenue	43,565	49,664	88,905	97,412
Operating Segments | Consulting services | Performance Services
Segment Reporting Information [Line Items]
Net revenue	21,921	18,514	45,689	35,876
Operating Segments | Software licenses | Performance Services
Segment Reporting Information [Line Items]
Net revenue	20,868	30,804	35,809	36,797
Operating Segments | Other | Performance Services
Segment Reporting Information [Line Items]
Net revenue	30,609	25,133	54,566	48,219
Corporate
Segment Reporting Information [Line Items]
Total depreciation and amortization expense	2,057	2,074	4,158	4,299
Total capital expenditures	0	127	915	136
Total assets	913,024		913,024		845,062
Eliminations
Segment Reporting Information [Line Items]
Net revenue	(73)	$ (9)	(125)	$ (19)
Eliminations
Segment Reporting Information [Line Items]
Total assets	$ 56		$ 56		$ (4)

SEGMENTS - Reconciliation of In

SEGMENTS - Reconciliation of Income Before Income Taxes to Segment Adjusted EBITDA (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Income before income taxes	$ 72,144	$ 88,139	$ 128,492	$ 149,867
Equity in net loss (income) of unconsolidated affiliates	666	(1,674)	2,392	(9,917)
Interest (income) expense, net	(2,438)	4,631	(2,633)	7,490
Other income, net	(4,679)	(2,930)	(3,587)	(766)
Operating income	65,693	88,166	124,664	146,674
Depreciation and amortization	20,267	21,439	40,595	44,878
Amortization of purchased intangible assets	12,512	13,047	25,200	23,499
Stock-based compensation	8,495	2,801	15,388	10,150
Acquisition- and disposition-related expenses	1,198	3,138	7,403	5,298
Strategic initiative and financial restructuring-related expenses	1,284	7,527	3,030	9,046
Deferred compensation plan expense	4,605	2,659	3,480	289
Other reconciling items, net	74	85	107	165
Non-GAAP Adjusted EBITDA	114,128	138,862	219,867	239,999
Employee Stock Purchase Plan (ESPP)
Segment Reporting Information [Line Items]
Stock-based compensation	100	100	300	300
Operating Segments | Supply Chain Services
Segment Reporting Information [Line Items]
Non-GAAP Adjusted EBITDA	114,491	126,315	229,465	239,504
Operating Segments | Performance Services
Segment Reporting Information [Line Items]
Non-GAAP Adjusted EBITDA	30,955	43,205	52,729	62,336
Corporate
Segment Reporting Information [Line Items]
Non-GAAP Adjusted EBITDA	$ (31,318)	$ (30,658)	$ (62,327)	$ (61,841)

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - Subsequent Event - Class A Common Stock - ASR Agreement - USD ($) $ in Millions	Feb. 09, 2024	Feb. 05, 2024
Subsequent Event [Line Items]
Aggregate number of shares to be repurchased		$ 400
Payments for repurchase of common stock	$ 400
Initial deliveries of shares repurchased	$ 320