Premier (PINC) 10-Q7 May 242024 Q3 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	9 Months Ended
Cover - shares	Mar. 31, 2024	May 02, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
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		104,820,281
Entity Central Index Key	0001577916
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Assets
Cash and cash equivalents	$ 61,856	$ 89,793
Accounts receivable (net of $2,027 and $2,878 allowance for credit losses, respectively)	121,159	115,295
Contract assets (net of $1,217 and $885 allowance for credit losses, respectively)	334,256	299,219
Inventory	77,795	76,932
Prepaid expenses and other current assets	79,633	60,387
Total current assets	674,699	641,626
Property and equipment (net of $721,427 and $662,554 accumulated depreciation, respectively)	206,363	212,308
Intangible assets (net of $286,161 and $265,684 accumulated amortization, respectively)	279,053	430,030
Goodwill	995,852	1,012,355
Deferred income tax assets	805,741	653,629
Deferred compensation plan assets	52,754	50,346
Investments in unconsolidated affiliates	228,511	231,826
Operating lease right-of-use assets	21,700	29,252
Other assets	99,057	110,115
Total assets	3,363,730	3,371,487
Liabilities and stockholders' equity
Accounts payable	67,341	54,375
Accrued expenses	69,492	47,113
Revenue share obligations	291,762	262,288
Accrued compensation and benefits	77,780	60,591
Deferred revenue	20,502	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	36,615	0
Other current liabilities	60,120	50,574
Total current liabilities	725,679	815,463
Liability related to the sale of future revenues, less current portion	569,042	0
Deferred compensation plan obligations	52,754	50,346
Operating lease liabilities, less current portion	13,074	21,864
Other liabilities	54,328	47,202
Total liabilities	1,440,432	1,037,132
Commitments and contingencies (Note 14)
Stockholders' equity:
Treasury stock, at cost; 6,429,375 shares at both March 31, 2024 and June 30, 2023	(250,129)	(250,129)
Additional paid-in capital	2,104,916	2,178,134
Retained earnings	67,400	405,102
Accumulated other comprehensive loss	(1)	(8)
Total stockholders' equity	1,923,298	2,334,355
Total liabilities and stockholders' equity	3,363,730	3,371,487
Related Party
Liabilities and stockholders' equity
Current portion of notes payable to former limited partners	101,059	99,665
Long-term debt, less current portion and notes payable to former limited partners, less current portion	25,555	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; 111,249,656 shares issued and 104,820,281 shares outstanding at March 31, 2024 and 125,587,858 shares issued and 119,158,483 shares outstanding at June 30, 2023	$ 1,112	$ 1,256

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Allowance for doubtful accounts	$ 2,027	$ 2,878
Allowance for credit losses	1,217	885
Accumulated depreciation	721,427	662,554
Accumulated amortization	$ 286,161	$ 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)	111,249,656	125,587,858
Common stock outstanding (in shares)	104,820,281	119,158,483

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Net revenue:
Net revenue	$ 342,596	$ 322,232	$ 996,093	$ 995,731
Cost of revenue:
Cost of revenue	122,263	103,162	343,895	331,935
Gross profit	220,333	219,070	652,198	663,796
Operating expenses:
Selling, general and administrative	286,121	143,587	566,331	416,165
Research and development	661	1,001	2,452	2,976
Amortization of purchased intangible assets	12,280	11,916	37,480	35,415
Operating expenses	299,062	156,504	606,263	454,556
Operating (loss) income	(78,729)	62,566	45,935	209,240
Equity in net income (loss) of unconsolidated affiliates	753	4,630	(1,639)	14,547
Interest (expense) income, net	(1,763)	(4,269)	870	(11,759)
Other income, net	14,913	2,954	18,500	3,720
Other income, net	13,903	3,315	17,731	6,508
(Loss) income before income taxes	(64,826)	65,881	63,666	215,748
Income tax (benefit) expense	(15,664)	17,232	17,552	59,766
Net (loss) income	(49,162)	48,649	46,114	155,982
Net loss (income) attributable to non-controlling interest	8,967	(1,848)	12,754	(2,419)
Net (loss) income attributable to stockholders	(40,195)	46,801	58,868	153,563
Comprehensive (loss) income:
Net (loss) income	(49,162)	48,649	46,114	155,982
Comprehensive loss (income) attributable to non-controlling interest	8,967	(1,848)	12,754	(2,419)
Foreign currency translation (loss) gain	(16)	1	7	(8)
Comprehensive (loss) income attributable to stockholders	$ (40,211)	$ 46,802	$ 58,875	$ 153,555
Weighted average shares outstanding:
Basic (in shares)	111,156	118,872	116,754	118,668
Diluted (in shares)	111,156	119,816	117,323	119,832
(Loss) earnings per share attributable to stockholders:
Basic (in dollars per share)	$ (0.36)	$ 0.39	$ 0.50	$ 1.29
Diluted (in dollars per share)	$ (0.36)	$ 0.39	$ 0.50	$ 1.28
Services and software licenses
Net revenue:
Net revenue	$ 286,006	$ 265,020	$ 833,137	$ 812,665
Cost of revenue:
Cost of revenue	70,336	54,149	200,458	163,428
Net administrative fees
Net revenue:
Net revenue	156,819	148,441	455,409	452,870
Software licenses, other services and support
Net revenue:
Net revenue	129,187	116,579	377,728	359,795
Products
Net revenue:
Net revenue	56,590	57,212	162,956	183,066
Cost of revenue:
Cost of revenue	$ 51,927	$ 49,013	$ 143,437	$ 168,507

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 (loss) 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 (loss) income	155,982
Ending balance (in shares) at Mar. 31, 2023			118,880,000
Ending balance at Mar. 31, 2023	2,335,791		$ 1,253	$ (250,129)	2,175,048	409,630	(11)
Treasury stock, ending balance (in shares) at Mar. 31, 2023				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				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 (loss) 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
Increase (Decrease) in Stockholders' Equity
Issuance of Class A common stock under equity incentive plan (in shares)			13,000
Issuance of Class A common stock under equity incentive plan	0
Stock-based compensation expense	6,560				6,560
Repurchase of vested restricted units for employee tax-withholding	(297)				(297)
Net (loss) income	48,649					48,649
Net (loss) income attributable to non-controlling interest	0				1,848	(1,848)
Change in ownership of consolidated entity	28				28
Dividends	(25,223)					(25,223)
Foreign currency translation adjustment	1						1
Ending balance (in shares) at Mar. 31, 2023			118,880,000
Ending balance at Mar. 31, 2023	2,335,791		$ 1,253	$ (250,129)	2,175,048	409,630	(11)
Treasury stock, ending balance (in shares) at Mar. 31, 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
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 (loss) 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 (loss) income	$ 46,114
Ending balance (in shares) at Mar. 31, 2024		104,820,281	104,820,000
Ending balance at Mar. 31, 2024	$ 1,923,298		$ 1,112	$ (250,129)	2,104,916	67,400	(1)
Treasury stock, ending balance (in shares) at Mar. 31, 2024	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 (loss) 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			119,816,000
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				6,429,000
Increase (Decrease) in Stockholders' Equity
Issuance of Class A common stock under equity incentive plan (in shares)			35,000
Issuance of Class A common stock under equity incentive plan	0				0
Treasury stock (in shares)			(15,031,000)	15,031,000
Treasury stock	(402,992)			$ (322,992)	(80,000)
Retirement of Class A common stock (in shares)				(15,031,000)
Retirement of Class A common stock	0		$ (150)	$ 322,992		(322,842)
Stock-based compensation expense	8,145				8,145
Repurchase of vested restricted units for employee tax-withholding	(403)				(403)
Net (loss) income	(49,162)					(49,162)
Net (loss) income attributable to non-controlling interest	0				(8,967)	8,967
Change in ownership of consolidated entity	26				26
Dividends	(22,509)					(22,509)
Foreign currency translation adjustment	(16)						(16)
Ending balance (in shares) at Mar. 31, 2024		104,820,281	104,820,000
Ending balance at Mar. 31, 2024	$ 1,923,298		$ 1,112	$ (250,129)	$ 2,104,916	$ 67,400	$ (1)
Treasury stock, ending balance (in shares) at Mar. 31, 2024	6,429,375			6,429,000

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares		3 Months Ended
	Jan. 25, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022
Statement of Stockholders' Equity [Abstract]
Dividends declared (in dollars per share)	$ 0.21	$ 0.21	$ 0.21	$ 0.21	$ 0.21	$ 0.21	$ 0.21

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Operating activities
Net (loss) income	$ 46,114	$ 155,982
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	98,572	100,568
Equity in net loss (income) of unconsolidated affiliates	1,639	(14,547)
Deferred income taxes	(152,112)	2,083
Stock-based compensation	23,215	16,375
Impairment of assets	140,053	0
Other, net	(7,653)	3,066
Changes in operating assets and liabilities, net of the effects of acquisitions:
Accounts receivable	(5,864)	483
Contract assets	(37,693)	(31,975)
Inventory	(863)	25,221
Prepaid expenses and other assets	(668)	21,685
Accounts payable	15,673	8,641
Revenue share obligations	29,474	12,717
Accrued expenses, deferred revenue and other liabilities	40,383	30,879
Net cash provided by operating activities	190,270	331,178
Investing activities
Purchases of property and equipment	(67,626)	(58,464)
Sale of investment in unconsolidated affiliates	12,753	0
Acquisition of businesses and equity method investments, net of cash acquired	0	(187,750)
Other	(30)	(3,570)
Net cash used in investing activities	(54,903)	(249,784)
Financing activities
Payments on notes payable	(75,846)	(76,024)
Proceeds from credit facility	0	350,000
Payments on credit facility	(215,000)	(265,000)
Proceeds from sale of future revenues	629,820	0
Payments on liability related to the sale of future revenues	(24,163)	0
Cash dividends paid	(73,074)	(75,227)
Repurchase of Class A common stock	(400,000)	0
Other, net	(5,048)	(9,785)
Net cash used in financing activities	(163,311)	(76,036)
Effect of exchange rate changes on cash flows	7	(8)
Net (decrease) increase in cash and cash equivalents	(27,937)	5,350
Cash and cash equivalents at beginning of period	89,793	86,143
Cash and cash equivalents at end of period	$ 61,856	$ 91,493

ORGANIZATION AND BASIS OF PRESE

ORGANIZATION AND BASIS OF PRESENTATION	9 Months Ended
ORGANIZATION AND BASIS OF PRESENTATION	Mar. 31, 2024
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, serving acute and continuum of care sites and providing 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 nine months ended March 31, 2024 and 2023 (in thousands): Nine Months Ended March 31, 2024 2023 Supplemental schedule of non-cash investing and financing activities: Non-cash additions to property and equipment $ 24 $ 5 Accrued dividend equivalents 1,459 778 Accrued excise taxes related to repurchase of Class A common stock 2,992 — Non-cash investment in unconsolidated affiliates — 7,800 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	9 Months Ended
SIGNIFICANT ACCOUNTING POLICIES	Mar. 31, 2024
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 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. Treasury Stock and Share Retirement Treasury stock purchases are recorded at cost. As the Company retires treasury shares acquired through share repurchases, the Company returns those shares to the status of authorized but unissued. When treasury shares are retired, the Company’s policy is to allocate the excess of the repurchase price over the par value of shares acquired to retained earnings.

BUSINESS ACQUISITIONS

BUSINESS ACQUISITIONS	9 Months Ended
BUSINESS ACQUISITIONS	Mar. 31, 2024
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 initially 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. As of March 31, 2024, the intangible assets and goodwill recognized as a result of the TRPN acquisition were fully impaired (see Note 7 - Goodwill and Intangible Assets). 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	9 Months Ended
INVESTMENTS	Mar. 31, 2024
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 Income (Loss) Three Months Ended Nine Months Ended Carrying Value March 31, March 31, March 31, 2024 June 30, 2023 2024 2023 2024 2023 FFF $ 136,080 $ 136,080 $ — $ 1,370 $ — $ 9,075 Exela 31,724 32,905 869 2,865 (1,181) 3,635 Qventus 16,000 16,000 — — — — Prestige 15,749 15,503 284 139 246 610 Other investments 28,958 31,338 (400) 256 (704) 1,227 Total investments $ 228,511 $ 231,826 $ 753 $ 4,630 $ (1,639) $ 14,547 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 March 31, 2024 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 ExPre’s ownership of Exela Class A common stock at March 31, 2024 and June 30, 2023. At March 31, 2024 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 accounts for its investment in Exela using the equity method of accounting and includes the investment as part of the Supply Chain Services segment. The Company, through PHSI, held an approximate 7% interest in Qventus, Inc. (“Qventus”) through PHSI’s ownership of Qventus Series C preferred stock at March 31, 2024 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. The Company, through its consolidated subsidiary, PRAM Holdings, LLC (“PRAM”), held an approximate 20% interest in Prestige Ameritech Ltd. (“Prestige”) through PRAM’s ownership of Prestige limited partnership units at March 31, 2024 and June 30, 2023. At March 31, 2024 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 investment in Prestige using the equity method of accounting and includes the investment as part of the Supply Chain Services segment.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
FAIR VALUE MEASUREMENTS	Mar. 31, 2024
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 March 31, 2024 Deferred compensation plan assets $ 59,435 $ 59,435 $ — $ — Total assets 59,435 59,435 — — Earn-out liabilities 28,167 — — 28,167 Total liabilities $ 28,167 $ — $ — $ 28,167 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 ($6.7 million and $5.2 million at March 31, 2024 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 1.0% at March 31, 2024 and 1.6% at June 30, 2023. At March 31, 2024, 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 March 31, 2024 and June 30, 2023 was $28.2 million and $23.1 million, respectively. Input assumptions As of March 31, 2024 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 1.0 % 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 March 31, 2024 Earn-out liabilities $ 27,876 $ — $ 291 $ 28,167 Total Level 3 liabilities $ 27,876 $ — $ 291 $ 28,167 Three Months Ended March 31, 2023 Earn-out liabilities $ 24,098 $ — $ 3,076 $ 27,174 Total Level 3 liabilities $ 24,098 $ — $ 3,076 $ 27,174 Nine Months Ended March 31, 2024 Earn-out liabilities $ 26,603 $ (1,375) $ 2,939 $ 28,167 Total Level 3 liabilities $ 26,603 $ (1,375) $ 2,939 $ 28,167 Nine Months Ended March 31, 2023 Earn-out liabilities $ 22,789 $ 1,460 $ 2,925 $ 27,174 Total Level 3 liabilities $ 22,789 $ 1,460 $ 2,925 $ 27,174 _________________________________ (a) Settlements for the nine months ended March 31, 2024 represent payments on earn-out liabilities. Purchases for the nine months ended March 31, 2023 includes an earn-out which had not been earned or paid as of March 31, 2023. (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 March 31, 2024 and June 30, 2023, the notes payable to former limited partners were recorded net of discounts of $1.7 million and $4.2 million, respectively. During the three months ended March 31, 2024, in conjunction with the Company’s assessment to determine whether it was more likely than not that the fair values of any of its reporting units were below their carrying amounts, the Company recorded pre-tax impairment charges in selling, general and administrative expense in the accompanying Condensed Consolidated Statements of Income and Comprehensive Income of $9.8 million for property and equipment and $0.3 million for operating lease right-of-use assets related to the Contigo Health reporting unit. Goodwill and intangible assets related to the Contigo Health reporting unit were also impaired as a result of this analysis (see Note 7 - Goodwill and Intangible Assets). 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 March 31, 2024 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	9 Months Ended
CONTRACT BALANCES	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
CONTRACT BALANCES	(6) CONTRACT BALANCES Deferred Revenue Revenue recognized during the nine months ended March 31, 2024 that was included in the opening balance of deferred revenue at June 30, 2023 was $20.7 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, software-as-a-service (“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. Net revenue of $7.3 million and $7.9 million was recognized during the three and nine months ended March 31, 2024, respectively, from performance obligations that were satisfied or partially satisfied in prior periods. The net revenue recognized was driven by increases of $6.2 million and $3.3 million, respectively, in net administrative fees revenue related to under-forecasted cash receipts received in the current period and increases of $1.1 million and $4.6 million, respectively, 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 $5.4 million and $3.9 million was recognized during the three and nine months ended March 31, 2023, respectively, from performance obligations that were satisfied or partially satisfied in prior periods. The net revenue recognized was driven by an increase of $6.1 million and $6.6 million, respectively, in net administrative fees revenue related to under-forecasted cash receipts received in the current period. These increases were partially offset by a reduction of $0.7 million and $2.7 million, respectively, 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 March 31, 2024, the aggregate amount of the transaction price allocated to remaining performance obligations was $757.3 million. The Company expects to recognize approximately 37% of the remaining performance obligations over the next twelve months and an additional 22% over the following twelve months, with the remainder recognized thereafter.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	9 Months Ended
GOODWILL AND INTANGIBLE ASSETS	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	(7) GOODWILL AND INTANGIBLE ASSETS Fiscal 2024 Impairment In connection with the preparation of its quarterly financial statements during the third quarter of fiscal 2024, the Company assessed changes in circumstances that occurred during the quarter to determine whether it was more likely than not that the fair values of any of its reporting units were below their carrying amounts. While there was no single determinative event or factor, potential triggering events during the third quarter of fiscal 2024 led the Company to conclude that when considering the events and factors in totality, it was more likely than not that the fair value of the Contigo Health reporting unit was below its carrying value at March 31, 2024. The fair value of the reporting unit was computed using a discounted cash flow analysis. The discounted cash flow model uses thirteen-year forecasted cash flows plus a terminal value based on capitalizing the last period’s cash flows using a perpetual growth rate. The Company’s significant assumptions in the discounted cash flow model include, but are not limited to, a discount rate utilizing a weighted average cost of capital, revenue growth rates (including perpetual growth rate), EBITDA margin percentages and debt-free net cash flows of the reporting unit’s business. These assumptions were developed in consideration of current market conditions and future expectations, which include, but were not limited to, new product offerings, market demand and impacts from competition. As a result, during the three and nine months ended March 31, 2024, the Company recorded an impairment charge related to the Contigo Health reporting unit recorded in selling, general and administrative expense in the accompanying Condensed Consolidated Statements of Income and Comprehensive Income. The pre-tax impairment charges comprised of $16.5 million for goodwill, $96.1 million for the provider network, $11.9 million for customer relationships, $0.6 million for technology, $0.3 million for non-compete agreements and $4.6 million for other intangible assets. Fiscal 2023 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. At March 31, 2024, the Contigo Health reporting unit’s goodwill and intangible assets were fully impaired. Goodwill A reconciliation of goodwill by segment is as follows (in thousands): Supply Chain Services Performance Services Total June 30, 2023 $ 386,206 $ 626,149 $ 1,012,355 Impairment — (16,503) (16,503) March 31, 2024 $ 386,206 $ 609,646 $ 995,852 At March 31, 2024, the Company had accumulated impairment losses to goodwill at Supply Chain Services and Performance Services of $2.3 million and $70.9 million, respectively. At 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. Intangible Assets, Net Intangible assets, net consisted of the following (in thousands): March 31, 2024 June 30, 2023 Useful Life Gross Accumulated Amortization Net Gross Accumulated Amortization Net Member relationships 14.7 years $ 386,100 $ (156,370) $ 229,730 $ 386,100 $ (136,751) $ 249,349 Provider network 15.0 years — — — 106,500 (5,029) 101,471 Technology 7.1 years 98,517 (71,984) 26,533 99,317 (67,581) 31,736 Customer relationships 9.3 years 41,430 (30,959) 10,471 57,930 (31,846) 26,084 Trade names 6.8 years 18,420 (13,052) 5,368 18,920 (11,983) 6,937 Non-compete agreements 5.2 years 17,315 (11,528) 5,787 17,715 (9,738) 7,977 Other (a) 4.1 years 3,432 (2,268) 1,164 9,232 (2,756) 6,476 Total $ 565,214 $ (286,161) $ 279,053 $ 695,714 $ (265,684) $ 430,030 _________________________________ (a) Includes a $1.0 million indefinite-lived asset as of June 30, 2023. The net carrying value of intangible assets by segment was as follows (in thousands): March 31, 2024 June 30, 2023 Supply Chain Services $ 246,271 $ 269,710 Performance Services (a) 32,782 160,320 Total intangible assets, net $ 279,053 $ 430,030 _________________________________ (a) Includes a $1.0 million indefinite-lived asset as of June 30, 2023. The estimated amortization expense for each of the next five fiscal years and thereafter is as follows (in thousands): 2024 (a) $ 9,794 2025 38,189 2026 36,945 2027 34,294 2028 30,681 Thereafter 129,150 Total amortization expense $ 279,053 (a) As of March 31, 2024, estimated amortization expense is for the period from April 1, 2024 to June 30, 2024.

DEBT AND NOTES PAYABLE

DEBT AND NOTES PAYABLE	9 Months Ended
DEBT AND NOTES PAYABLE	Mar. 31, 2024
Debt Disclosure [Abstract]
DEBT AND NOTES PAYABLE	(8) DEBT AND NOTES PAYABLE Long-term debt and notes payable consisted of the following (in thousands): March 31, 2024 June 30, 2023 Credit Facility $ — $ 215,000 Notes payable to former limited partners, net of discount 126,614 201,188 Other notes payable 1,008 2,280 Total debt and notes payable 127,622 418,468 Less: current portion (102,067) (316,211) Total long-term debt and notes payable $ 25,555 $ 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 March 31, 2024, 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 nine months ended March 31, 2024, the Company had no new borrowings and repaid $215.0 million of outstanding borrowings under the Credit Facility. At both March 31, 2024 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 March 31, 2024 and June 30, 2023. Notes Payable Notes Payable to Former Limited Partners At March 31, 2024, the Company had $126.6 million of notes payable to former limited partners (“LP”), net of discounts on notes payable of $1.7 million, of which $101.1 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 March 31, 2024 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	9 Months Ended
LIABILITY RELATED TO THE SALE OF FUTURE REVENUES	Mar. 31, 2024
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 March 31, 2024, 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 $738.0 million 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 March 31, 2024. 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 nine months ended March 31, 2024, the Company did not record cumulative adjustments to the carrying amount of the liability. At March 31, 2024, the Company had $605.7 million of debt related to the sale of non-healthcare GPO member contracts and associated future revenues, of which $36.6 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 nine months ended March 31, 2024, the Company recorded $13.2 million and $39.7 million in revenue that was sold to OMNIA in net administrative fees and $3.9 million and $10.3 million, respectively, 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 March 31, 2024 (in thousands): March 31, 2024 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 10,306 Payments against the liability related to the sale of future revenues (34,469) Liability related to the sale of future revenues $ 605,657

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	9 Months Ended
STOCKHOLDERS' EQUITY	Mar. 31, 2024
Equity [Abstract]
STOCKHOLDERS' EQUITY	(10) STOCKHOLDERS' EQUITY As of March 31, 2024, there were 104,820,281 shares of the Company’s Class A common stock (“common stock”), par value $0.01 per share, outstanding. 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 common stock, excluding fees and expenses. Under the terms of the ASR Agreement, the Company made a payment of $400.0 million to Bank of America and, on February 8 and 9, 2024, received initial deliveries of an aggregate of 15.0 million shares of the Company’s common stock, or $320.0 million, based on the closing price on February 7, 2024 of $21.29 per share. The final number of shares to be repurchased will be based on the volume-weighted average stock price of the Company’s common stock during the term of the ASR Agreement, less a customary discount. Final settlement of the ASR Agreement is expected to occur in the first quarter of fiscal year 2025. The default settlement provision within the ASR Agreement is a net share settlement, however, the Company, in its sole discretion, in the event Bank of America delivered excess initial shares, has the ability to settle the contract either by issuing shares of the Company’s common stock or in cash.

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE	9 Months Ended
EARNINGS (LOSS) PER SHARE	Mar. 31, 2024
Earnings Per Share [Abstract]
EARNINGS (LOSS) PER SHARE	(11) EARNINGS (LOSS) PER SHARE Basic earnings per share is computed by dividing net income attributable to stockholders by the weighted average number of shares of the Company’s 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 the Company’s common stock. The following table provides a reconciliation of the numerator and denominator used for basic and diluted (loss) earnings per share (in thousands, except per share amounts): Three Months Ended March 31, Nine Months Ended March 31, 2024 2023 2024 2023 Numerator for basic and diluted (loss) earnings per share: Net (loss) income attributable to stockholders (a) $ (40,195) $ 46,801 $ 58,868 $ 153,563 Denominator for (loss) earnings per share: Basic weighted average shares outstanding 111,156 118,872 116,754 118,668 Effect of dilutive securities: (b) Stock options — 76 — 103 Restricted stock units — 528 484 519 Performance share awards — 340 85 542 Diluted weighted average shares 111,156 119,816 117,323 119,832 (Loss) earnings per share attributable to stockholders: Basic $ (0.36) $ 0.39 $ 0.50 $ 1.29 Diluted $ (0.36) $ 0.39 $ 0.50 $ 1.28 _________________________________ (a) Net (loss) income attributable to stockholders was calculated as follows (in thousands): Three Months Ended March 31, Nine Months Ended March 31, 2024 2023 2024 2023 Net (loss) income $ (49,162) $ 48,649 $ 46,114 $ 155,982 Net loss (income) attributable to non-controlling interest 8,967 (1,848) 12,754 (2,419) Net (loss) income attributable to stockholders $ (40,195) $ 46,801 $ 58,868 $ 153,563 (b) Stock options and restricted stock units excluded from diluted weighted average shares outstanding as their effects were anti-dilutive totaled 1.0 million and 1.2 million for the three and nine months ended March 31, 2024, respectively. Additionally, performance share awards excluded from diluted weighted average shares outstanding as the awards had not satisfied the applicable performance criteria at the end of the period were 0.3 million and 0.2 million for the three and nine months ended March 31, 2024, respectively. For both the three and nine months ended March 31, 2023, the effect of 0.3 million stock options and restricted stock units were excluded from diluted weighted average shares outstanding as their effects were anti-dilutive. Additionally, for the three and nine months ended March 31, 2023, the effect of 0.4 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	9 Months Ended
STOCK-BASED COMPENSATION	Mar. 31, 2024
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 nine months ended March 31, 2024 and 2023, 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 March 31, Nine Months Ended March 31, 2024 2023 2024 2023 Pre-tax stock-based compensation expense $ 8,145 $ 6,560 $ 23,215 $ 16,375 Less: deferred tax benefit (a) 1,340 2,400 4,266 4,407 Total stock-based compensation expense, net of tax $ 6,805 $ 4,160 $ 18,949 $ 11,968 _________________________________ (a) For both the three months ended March 31, 2024 and 2023, the deferred tax benefit was reduced by $0.7 million 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 nine months ended March 31, 2024 and 2023, the deferred tax benefit was reduced by $1.6 million and $0.2 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 the Company’s 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 the Company’s 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 March 31, 2024, 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 nine months ended March 31, 2024: 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 1,108,353 21.61 684,026 18.70 — — Vested/exercised (409,632) 32.16 (458,905) 29.18 — — Forfeited (174,454) 29.48 (110,792) 31.01 (13,061) 32.30 Outstanding at March 31, 2024 2,372,057 $ 28.17 1,585,153 $ 28.15 452,261 $ 33.18 Stock options outstanding and exercisable at March 31, 2024 452,261 $ 33.18 Restricted stock units and restricted stock awards issued prior to June 1, 2023 generally vest in full at the end of 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 in equal annual installments over a three-year 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 a three-year period. Stock options have a term of ten years from the date of grant. Vested stock options will generally expire on the earlier of the scheduled expiration date and twelve months after an employee’s termination with the Company; however, in certain termination circumstances, vested stock options will expire on the earlier of the scheduled expiration date and 90 days after an employee’s termination with the Company. Unrecognized stock-based compensation expense at March 31, 2024 was as follows (in thousands): Unrecognized Stock-Based Compensation Expense Weighted Average Amortization Period Restricted stock $ 36,787 2.0 years Performance share awards 17,864 1.9 years Total unrecognized stock-based compensation expense $ 54,651 2.0 years At March 31, 2024, there was no unrecognized stock-based compensation expense for outstanding stock options. There were no options exercised during the nine months ended March 31, 2024, and the stock options outstanding and exercisable at March 31, 2024 had zero aggregate intrinsic value.

INCOME TAXES

INCOME TAXES	9 Months Ended
INCOME TAXES	Mar. 31, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	(13) INCOME TAXES Income tax benefit for the three months ended March 31, 2024 was $15.7 million, which reflects an effective tax rate of 24% compared to income tax expense of $17.2 million for the three months ended March 31, 2023, which reflects an effective tax rate of 26%. The change in the effective tax rate is primarily attributable to the current year impairment of assets. Excluding the impairment of assets, the effective tax rate would have been 26% for the three months ended March 31, 2024. Income tax expense for the nine months ended March 31, 2024 and 2023 was $17.6 million and $59.8 million, respectively, which reflects effective tax rates of 28% for both periods. During the nine months ended March 31, 2024, the Company recorded a $151.6 million cash tax obligation associated with the sale of non-healthcare GPO member contracts and associated future revenues to OMNIA. As of March 31, 2024, the Company has made payments of $148.6 million for taxes related to the proceeds received from the sale of future revenues to OMNIA. The remaining $3.0 million will be paid during the remainder of fiscal year 2024. Additionally, during the nine months ended March 31, 2024, the Company recorded an offsetting deferred tax asset of $152.3 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	9 Months Ended
COMMITMENTS AND CONTINGENCIES	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	(14) COMMITMENTS AND CONTINGENCIES Operating Leases Operating lease expense for the three months ended March 31, 2024 and 2023 was $2.4 million and $2.5 million, respectively. Operating lease expense for the nine months ended March 31, 2024 and 2023 was $7.3 million and $7.5 million, respectively. As of March 31, 2024, the weighted average remaining lease term was 2.1 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): March 31, 2024 June 30, 2023 2024 (a) $ 3,150 $ 12,381 2025 12,389 12,389 2026 9,005 9,005 2027 (b) 1,324 1,324 Total future minimum lease payments 25,868 35,099 Less: imputed interest 1,085 1,947 Total operating lease liabilities (c) $ 24,783 $ 33,152 _________________________________ (a) As of March 31, 2024, future minimum lease payments are for the period from April 1, 2024 to June 30, 2024. (b) There are no future lease payment obligations after 2027. (c) As of March 31, 2024, the Company had $11.7 million of operating lease liabilities within other current liabilities in the accompanying 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	9 Months Ended
SEGMENTS	Mar. 31, 2024
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 March 31, Nine Months Ended March 31, 2024 2023 2024 2023 Net revenue: Supply Chain Services Net administrative fees $ 156,819 $ 148,441 $ 455,409 $ 452,870 Software licenses, other services and support 14,257 11,032 37,954 35,963 Services and software licenses 171,076 159,473 493,363 488,833 Products 56,590 57,212 162,956 183,066 Total Supply Chain Services (a) 227,666 216,685 656,319 671,899 Performance Services Software licenses, other services and support SaaS-based products subscriptions 43,627 44,685 132,532 142,097 Consulting services 21,561 22,087 67,250 57,963 Software licenses 26,533 14,400 62,342 51,197 Other (b) 23,282 24,384 77,848 72,603 Total Performance Services (a) 115,003 105,556 339,972 323,860 Total segment net revenue 342,669 322,241 996,291 995,759 Eliminations (a) (73) (9) (198) (28) Net revenue $ 342,596 $ 322,232 $ 996,093 $ 995,731 _________________________________ (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 and certain revenue from Remitra and PINC AI. Additional segment information related to depreciation and amortization expense, capital expenditures and total assets was as follows (in thousands): Three Months Ended March 31, Nine Months Ended March 31, 2024 2023 2024 2023 Depreciation and amortization expense (a) : Supply Chain Services $ 13,739 $ 13,002 $ 41,107 $ 40,862 Performance Services 17,143 17,189 51,412 53,407 Corporate 1,895 2,000 6,053 6,299 Total depreciation and amortization expense $ 32,777 $ 32,191 $ 98,572 $ 100,568 Capital expenditures: Supply Chain Services $ 5,871 $ 6,571 $ 32,036 $ 19,586 Performance Services 12,240 13,311 34,228 38,576 Corporate 447 166 1,362 302 Total capital expenditures $ 18,558 $ 20,048 $ 67,626 $ 58,464 March 31, 2024 June 30, 2023 Total assets: Supply Chain Services $ 1,463,502 $ 1,317,076 Performance Services 1,099,323 1,209,353 Corporate 800,886 845,062 Total assets before eliminations 3,363,711 3,371,491 Eliminations (b) 19 (4) Total assets $ 3,363,730 $ 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 (loss) income before income taxes to unaudited Segment Adjusted EBITDA, a Non-GAAP financial measure, is as follows (in thousands): Three Months Ended March 31, Nine Months Ended March 31, 2024 2023 2024 2023 (Loss) income before income taxes $ (64,826) $ 65,881 $ 63,666 $ 215,748 Equity in net (income) loss of unconsolidated affiliates (a) (753) (4,630) 1,639 (14,547) Interest expense (income), net 1,763 4,269 (870) 11,759 Other income, net (14,913) (2,954) (18,500) (3,720) Operating (loss) income (78,729) 62,566 45,935 209,240 Depreciation and amortization 20,497 20,275 61,092 65,153 Amortization of purchased intangible assets 12,280 11,916 37,480 35,415 Stock-based compensation (b) 8,283 6,709 23,671 16,859 Acquisition- and disposition-related expenses 1,092 6,294 8,495 11,592 Strategic initiative and financial restructuring-related expenses (61) 1,942 2,969 10,988 Deferred compensation plan expense (c) 3,889 2,859 7,369 3,148 Impairment of assets 140,053 — 140,053 — Other reconciling items, net (22) 95 85 260 Total Non-GAAP Adjusted EBITDA (d) $ 107,282 $ 112,656 $ 327,149 $ 352,655 Non-GAAP Adjusted EBITDA (d) : Supply Chain Services (e) $ 114,021 $ 117,474 $ 343,486 $ 356,978 Performance Services (e) 27,039 24,954 79,768 87,290 Segment Adjusted EBITDA 141,060 142,428 423,254 444,268 Corporate (33,778) (29,772) (96,105) (91,613) Total Non-GAAP Adjusted EBITDA $ 107,282 $ 112,656 $ 327,149 $ 352,655 _________________________________ (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 March 31, 2024 and 2023 and $0.5 million for both the nine months ended March 31, 2024 and 2023. (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.

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	9 Months Ended
Insider Trading Arrangements	Mar. 31, 2024 shares	Mar. 31, 2024 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		The table below sets forth SEC Rule 10b5-1 trading plans adopted by certain directors and executive officers (as defined in SEC Rule 16a-(f)) during the quarter ended March 31, 2024. All of these plans were adopted during the quarterly trading window under our Insider Trading Policy. Other than as set forth in the table, during the three months ended March 31, 2024, none of our directors or executive officers adopted or terminated any contract, instruction or written plan for the purchase or sale of securities that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any “non-Rule 10b5-1 trading arrangement” (as defined in Item 408(c) of Regulation S-K). Trading Arrangement Name and Title Action Date Rule 10b5-1 (a) Non-Rule 10b5-1 (b) Total Shares to be Sold (c) Scheduled Expiration Date (f) Michael J. Alkire, President, CEO and Director Adopt 02/23/2024 X 263,951 (d) 02/14/2025 Leigh T. Anderson, Chief Operating Officer Adopt 02/21/2024 X 236,355 (d) 10/31/2025 Andrew F. Brailo, Chief Customer Officer Adopt 02/08/2024 X 29,107 02/11/2025 David L. Klatsky, General Counsel Adopt 03/07/2024 X 59,074 (d)(e) 05/30/2025 Craig S. McKasson, Chief Administrative and Financial Officer Adopt 02/08/2024 X 50,000 10/31/2024 John T. Bigalke, Director Adopt 02/27/2024 X 4,547 12/31/2025 Helen M. Boudreau, Director Adopt 02/08/2024 X 9,129 05/16/2025 _________________________________ (a) Insider trading plan intended to satisfy the affirmative defense of SEC Rule 10b5-1(c). (b) “Non-Rule 10b5-1 trading arrangement” as defined in Item 408(c) of Regulation S-K. (c) The numbers in this column represent the maximum number of shares of our common stock that may be sold pursuant to each trading plan. The actual number of shares sold pursuant to each trading plan will depend on the satisfaction of certain conditions set forth therein prior to expiration or termination of the plan. (d) This number includes shares of our common stock issuable pursuant to unvested restricted stock units (“RSU”) that are scheduled to vest during the term of the 10b5-1 plan, subject to time-based vesting conditions set forth in the applicable RSU award agreement. This number also includes shares of our common stock issuable pursuant to performance share awards (“PSA”) that may vest during the term of the 10b5-1 plan, subject to the achievement of certain performance conditions as set forth in the applicable PSA agreement. The actual number of PSAs that vest following the end of the applicable performance period, if any, and therefore the resulting shares of our common stock available for sale under the plan will depend on the attainment of the performance metrics. Also, shares of our common stock issuable pursuant to vested RSUs and PSAs will be subject to tax withholding obligations that may reduce the net shares actually issued and therefore available for sale under the applicable plan; however, the maximum aggregate gross number of shares of our common stock included in the applicable plan is reported in this table without reduction for such future tax obligations. (e) A portion of the shares of our common stock included in Mr. Klatsky's trading plan are shares that may be issued from RSUs and PSAs held by Mr. Klatsky, subject to vesting conditions as described above in note (d), but that were awarded to his former spouse pursuant to a domestic relations order. Mr. Klatsky disclaims beneficial ownership of securities still held by him but awarded to his former spouse. (f) Each trading plan terminates on the earlier to occur of: (i) the expiration date listed in the table above; (ii) the first date on which all trades set forth in the plan have been executed; or (iii) such date the plan otherwise terminates according to its terms.
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Directors and Executive Officers' Trading Arrangements [Member] \| Michael J. Alkire [Member]
Trading Arrangements, by Individual
Name	Michael J. Alkire
Title	President, CEO and Director
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	02/23/2024
Arrangement Duration	357 days
Aggregate Available	263,951	263,951
Directors and Executive Officers' Trading Arrangements [Member] \| Leigh T. Anderson [Member]
Trading Arrangements, by Individual
Name	Leigh T. Anderson
Title	Chief Operating Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	02/21/2024
Arrangement Duration	618 days
Aggregate Available	236,355	236,355
Directors and Executive Officers' Trading Arrangements [Member] \| Andrew F. Brailo [Member]
Trading Arrangements, by Individual
Name	Andrew F. Brailo
Title	Chief Customer Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	02/08/2024
Arrangement Duration	369 days
Aggregate Available	29,107	29,107
Directors and Executive Officers' Trading Arrangements [Member] \| David L. Klatsky [Member]
Trading Arrangements, by Individual
Name	David L. Klatsky
Title	General Counsel
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	03/07/2024
Arrangement Duration	449 days
Aggregate Available	59,074	59,074
Directors and Executive Officers' Trading Arrangements [Member] \| Craig S. McKasson [Member]
Trading Arrangements, by Individual
Name	Craig S. McKasson
Title	Chief Administrative and Financial Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	02/08/2024
Arrangement Duration	266 days
Aggregate Available	50,000	50,000
Directors and Executive Officers' Trading Arrangements [Member] \| John T. Bigalke [Member]
Trading Arrangements, by Individual
Name	John T. Bigalke
Title	Director
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	02/27/2024
Arrangement Duration	673 days
Aggregate Available	4,547	4,547
Directors and Executive Officers' Trading Arrangements [Member] \| Helen M. Boudreau [Member]
Trading Arrangements, by Individual
Name	Helen M. Boudreau
Title	Director
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	02/08/2024
Arrangement Duration	463 days
Aggregate Available	9,129	9,129

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
SIGNIFICANT ACCOUNTING POLICIES (Policies)	Mar. 31, 2024
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.
Treasury Stock and Share Retirement	Treasury Stock and Share Retirement Treasury stock purchases are recorded at cost. As the Company retires treasury shares acquired through share repurchases, the Company returns those shares to the status of authorized but unissued. When treasury shares are retired, the Company’s policy is to allocate the excess of the repurchase price over the par value of shares acquired to retained earnings.
Goodwill Impairment	In connection with the preparation of its quarterly financial statements during the third quarter of fiscal 2024, the Company assessed changes in circumstances that occurred during the quarter to determine whether it was more likely than not that the fair values of any of its reporting units were below their carrying amounts. While there was no single determinative event or factor, potential triggering events during the third quarter of fiscal 2024 led the Company to conclude that when considering the events and factors in totality, it was more likely than not that the fair value of the Contigo Health reporting unit was below its carrying value at March 31, 2024. The fair value of the reporting unit was computed using a discounted cash flow analysis. The discounted cash flow model uses thirteen-year forecasted cash flows plus a terminal value based on capitalizing the last period’s cash flows using a perpetual growth rate. The Company’s significant assumptions in the discounted cash flow model include, but are not limited to, a discount rate utilizing a weighted average cost of capital, revenue growth rates (including perpetual growth rate), EBITDA margin percentages and debt-free net cash flows of the reporting unit’s business. These assumptions were developed in consideration of current market conditions and future expectations, which include, but were not limited to, new product offerings, market demand and impacts from competition. As a result, during the three and nine months ended March 31, 2024, the Company recorded an impairment charge related to the Contigo Health reporting unit recorded in selling, general and administrative expense in the accompanying Condensed Consolidated Statements of Income and Comprehensive

ORGANIZATION AND BASIS OF PRE_2

ORGANIZATION AND BASIS OF PRESENTATION (Tables)	9 Months Ended
ORGANIZATION AND BASIS OF PRESENTATION (Tables)	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Supplemental Cash Flow Information	The following table presents supplementary cash flows information for the nine months ended March 31, 2024 and 2023 (in thousands): Nine Months Ended March 31, 2024 2023 Supplemental schedule of non-cash investing and financing activities: Non-cash additions to property and equipment $ 24 $ 5 Accrued dividend equivalents 1,459 778 Accrued excise taxes related to repurchase of Class A common stock 2,992 — Non-cash investment in unconsolidated affiliates — 7,800

INVESTMENTS (Tables)

INVESTMENTS (Tables)	9 Months Ended
INVESTMENTS (Tables)	Mar. 31, 2024
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 Income (Loss) Three Months Ended Nine Months Ended Carrying Value March 31, March 31, March 31, 2024 June 30, 2023 2024 2023 2024 2023 FFF $ 136,080 $ 136,080 $ — $ 1,370 $ — $ 9,075 Exela 31,724 32,905 869 2,865 (1,181) 3,635 Qventus 16,000 16,000 — — — — Prestige 15,749 15,503 284 139 246 610 Other investments 28,958 31,338 (400) 256 (704) 1,227 Total investments $ 228,511 $ 231,826 $ 753 $ 4,630 $ (1,639) $ 14,547

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
FAIR VALUE MEASUREMENTS (Tables)	Mar. 31, 2024
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 March 31, 2024 Deferred compensation plan assets $ 59,435 $ 59,435 $ — $ — Total assets 59,435 59,435 — — Earn-out liabilities 28,167 — — 28,167 Total liabilities $ 28,167 $ — $ — $ 28,167 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 March 31, 2024 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 1.0 % 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 March 31, 2024 Earn-out liabilities $ 27,876 $ — $ 291 $ 28,167 Total Level 3 liabilities $ 27,876 $ — $ 291 $ 28,167 Three Months Ended March 31, 2023 Earn-out liabilities $ 24,098 $ — $ 3,076 $ 27,174 Total Level 3 liabilities $ 24,098 $ — $ 3,076 $ 27,174 Nine Months Ended March 31, 2024 Earn-out liabilities $ 26,603 $ (1,375) $ 2,939 $ 28,167 Total Level 3 liabilities $ 26,603 $ (1,375) $ 2,939 $ 28,167 Nine Months Ended March 31, 2023 Earn-out liabilities $ 22,789 $ 1,460 $ 2,925 $ 27,174 Total Level 3 liabilities $ 22,789 $ 1,460 $ 2,925 $ 27,174 _________________________________ (a) Settlements for the nine months ended March 31, 2024 represent payments on earn-out liabilities. Purchases for the nine months ended March 31, 2023 includes an earn-out which had not been earned or paid as of March 31, 2023. (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)	9 Months Ended
GOODWILL AND INTANGIBLE ASSETS (Tables)	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	A reconciliation of goodwill by segment is as follows (in thousands): Supply Chain Services Performance Services Total June 30, 2023 $ 386,206 $ 626,149 $ 1,012,355 Impairment — (16,503) (16,503) March 31, 2024 $ 386,206 $ 609,646 $ 995,852
Schedule of Finite-Lived Intangible Assets	Intangible assets, net consisted of the following (in thousands): March 31, 2024 June 30, 2023 Useful Life Gross Accumulated Amortization Net Gross Accumulated Amortization Net Member relationships 14.7 years $ 386,100 $ (156,370) $ 229,730 $ 386,100 $ (136,751) $ 249,349 Provider network 15.0 years — — — 106,500 (5,029) 101,471 Technology 7.1 years 98,517 (71,984) 26,533 99,317 (67,581) 31,736 Customer relationships 9.3 years 41,430 (30,959) 10,471 57,930 (31,846) 26,084 Trade names 6.8 years 18,420 (13,052) 5,368 18,920 (11,983) 6,937 Non-compete agreements 5.2 years 17,315 (11,528) 5,787 17,715 (9,738) 7,977 Other (a) 4.1 years 3,432 (2,268) 1,164 9,232 (2,756) 6,476 Total $ 565,214 $ (286,161) $ 279,053 $ 695,714 $ (265,684) $ 430,030 _________________________________ (a) Includes a $1.0 million indefinite-lived asset as of June 30, 2023. The net carrying value of intangible assets by segment was as follows (in thousands): March 31, 2024 June 30, 2023 Supply Chain Services $ 246,271 $ 269,710 Performance Services (a) 32,782 160,320 Total intangible assets, net $ 279,053 $ 430,030 _________________________________ (a) Includes a $1.0 million indefinite-lived asset as of June 30, 2023.
Schedule of Indefinite-Lived Intangible Assets	Intangible assets, net consisted of the following (in thousands): March 31, 2024 June 30, 2023 Useful Life Gross Accumulated Amortization Net Gross Accumulated Amortization Net Member relationships 14.7 years $ 386,100 $ (156,370) $ 229,730 $ 386,100 $ (136,751) $ 249,349 Provider network 15.0 years — — — 106,500 (5,029) 101,471 Technology 7.1 years 98,517 (71,984) 26,533 99,317 (67,581) 31,736 Customer relationships 9.3 years 41,430 (30,959) 10,471 57,930 (31,846) 26,084 Trade names 6.8 years 18,420 (13,052) 5,368 18,920 (11,983) 6,937 Non-compete agreements 5.2 years 17,315 (11,528) 5,787 17,715 (9,738) 7,977 Other (a) 4.1 years 3,432 (2,268) 1,164 9,232 (2,756) 6,476 Total $ 565,214 $ (286,161) $ 279,053 $ 695,714 $ (265,684) $ 430,030 _________________________________ (a) Includes a $1.0 million indefinite-lived asset as of June 30, 2023. The net carrying value of intangible assets by segment was as follows (in thousands): March 31, 2024 June 30, 2023 Supply Chain Services $ 246,271 $ 269,710 Performance Services (a) 32,782 160,320 Total intangible assets, net $ 279,053 $ 430,030 _________________________________ (a) Includes a $1.0 million indefinite-lived asset as of June 30, 2023.
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) $ 9,794 2025 38,189 2026 36,945 2027 34,294 2028 30,681 Thereafter 129,150 Total amortization expense $ 279,053 (a) As of March 31, 2024, estimated amortization expense is for the period from April 1, 2024 to June 30, 2024.

DEBT AND NOTES PAYABLE (Tables)

DEBT AND NOTES PAYABLE (Tables)	9 Months Ended
DEBT AND NOTES PAYABLE (Tables)	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Long-Term Debt and Notes Payable	Long-term debt and notes payable consisted of the following (in thousands): March 31, 2024 June 30, 2023 Credit Facility $ — $ 215,000 Notes payable to former limited partners, net of discount 126,614 201,188 Other notes payable 1,008 2,280 Total debt and notes payable 127,622 418,468 Less: current portion (102,067) (316,211) Total long-term debt and notes payable $ 25,555 $ 102,257

LIABILITY RELATED TO THE SALE_2

LIABILITY RELATED TO THE SALE OF FUTURE REVENUES (Tables)	9 Months Ended
LIABILITY RELATED TO THE SALE OF FUTURE REVENUES (Tables)	Mar. 31, 2024
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 March 31, 2024 (in thousands): March 31, 2024 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 10,306 Payments against the liability related to the sale of future revenues (34,469) Liability related to the sale of future revenues $ 605,657

EARNINGS (LOSS) PER SHARE (Tabl

EARNINGS (LOSS) PER SHARE (Tables)	9 Months Ended
EARNINGS (LOSS) PER SHARE (Tables)	Mar. 31, 2024
Earnings Per Share [Abstract]
Schedule of Reconciliation of Common Shares Used for Earnings (Loss) Per Share	The following table provides a reconciliation of the numerator and denominator used for basic and diluted (loss) earnings per share (in thousands, except per share amounts): Three Months Ended March 31, Nine Months Ended March 31, 2024 2023 2024 2023 Numerator for basic and diluted (loss) earnings per share: Net (loss) income attributable to stockholders (a) $ (40,195) $ 46,801 $ 58,868 $ 153,563 Denominator for (loss) earnings per share: Basic weighted average shares outstanding 111,156 118,872 116,754 118,668 Effect of dilutive securities: (b) Stock options — 76 — 103 Restricted stock units — 528 484 519 Performance share awards — 340 85 542 Diluted weighted average shares 111,156 119,816 117,323 119,832 (Loss) earnings per share attributable to stockholders: Basic $ (0.36) $ 0.39 $ 0.50 $ 1.29 Diluted $ (0.36) $ 0.39 $ 0.50 $ 1.28 _________________________________ (a) Net (loss) income attributable to stockholders was calculated as follows (in thousands): Three Months Ended March 31, Nine Months Ended March 31, 2024 2023 2024 2023 Net (loss) income $ (49,162) $ 48,649 $ 46,114 $ 155,982 Net loss (income) attributable to non-controlling interest 8,967 (1,848) 12,754 (2,419) Net (loss) income attributable to stockholders $ (40,195) $ 46,801 $ 58,868 $ 153,563 (b) Stock options and restricted stock units excluded from diluted weighted average shares outstanding as their effects were anti-dilutive totaled 1.0 million and 1.2 million for the three and nine months ended March 31, 2024, respectively. Additionally, performance share awards excluded from diluted weighted average shares outstanding as the awards had not satisfied the applicable performance criteria at the end of the period were 0.3 million and 0.2 million for the three and nine months ended March 31, 2024, respectively. For both the three and nine months ended March 31, 2023, the effect of 0.3 million stock options and restricted stock units were excluded from diluted weighted average shares outstanding as their effects were anti-dilutive. Additionally, for the three and nine months ended March 31, 2023, the effect of 0.4 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)	9 Months Ended
STOCK-BASED COMPENSATION (Tables)	Mar. 31, 2024
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 March 31, Nine Months Ended March 31, 2024 2023 2024 2023 Pre-tax stock-based compensation expense $ 8,145 $ 6,560 $ 23,215 $ 16,375 Less: deferred tax benefit (a) 1,340 2,400 4,266 4,407 Total stock-based compensation expense, net of tax $ 6,805 $ 4,160 $ 18,949 $ 11,968 _________________________________ (a) For both the three months ended March 31, 2024 and 2023, the deferred tax benefit was reduced by $0.7 million 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 nine months ended March 31, 2024 and 2023, the deferred tax benefit was reduced by $1.6 million and $0.2 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 nine months ended March 31, 2024: 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 1,108,353 21.61 684,026 18.70 — — Vested/exercised (409,632) 32.16 (458,905) 29.18 — — Forfeited (174,454) 29.48 (110,792) 31.01 (13,061) 32.30 Outstanding at March 31, 2024 2,372,057 $ 28.17 1,585,153 $ 28.15 452,261 $ 33.18 Stock options outstanding and exercisable at March 31, 2024 452,261 $ 33.18
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 nine months ended March 31, 2024: 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 1,108,353 21.61 684,026 18.70 — — Vested/exercised (409,632) 32.16 (458,905) 29.18 — — Forfeited (174,454) 29.48 (110,792) 31.01 (13,061) 32.30 Outstanding at March 31, 2024 2,372,057 $ 28.17 1,585,153 $ 28.15 452,261 $ 33.18 Stock options outstanding and exercisable at March 31, 2024 452,261 $ 33.18
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 nine months ended March 31, 2024: 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 1,108,353 21.61 684,026 18.70 — — Vested/exercised (409,632) 32.16 (458,905) 29.18 — — Forfeited (174,454) 29.48 (110,792) 31.01 (13,061) 32.30 Outstanding at March 31, 2024 2,372,057 $ 28.17 1,585,153 $ 28.15 452,261 $ 33.18 Stock options outstanding and exercisable at March 31, 2024 452,261 $ 33.18
Schedule of Unrecognized Stock-Based Compensation Expense	Unrecognized stock-based compensation expense at March 31, 2024 was as follows (in thousands): Unrecognized Stock-Based Compensation Expense Weighted Average Amortization Period Restricted stock $ 36,787 2.0 years Performance share awards 17,864 1.9 years Total unrecognized stock-based compensation expense $ 54,651 2.0 years

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	9 Months Ended
COMMITMENTS AND CONTINGENCIES (Tables)	Mar. 31, 2024
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): March 31, 2024 June 30, 2023 2024 (a) $ 3,150 $ 12,381 2025 12,389 12,389 2026 9,005 9,005 2027 (b) 1,324 1,324 Total future minimum lease payments 25,868 35,099 Less: imputed interest 1,085 1,947 Total operating lease liabilities (c) $ 24,783 $ 33,152 _________________________________ (a) As of March 31, 2024, future minimum lease payments are for the period from April 1, 2024 to June 30, 2024. (b) There are no future lease payment obligations after 2027. (c) As of March 31, 2024, the Company had $11.7 million of operating lease liabilities within other current liabilities in the accompanying Condensed Consolidated Balance Sheets.

SEGMENTS (Tables)

SEGMENTS (Tables)	9 Months Ended
SEGMENTS (Tables)	Mar. 31, 2024
Segment Reporting [Abstract]
Schedule of Segment Information	The following table presents disaggregated revenue by business segment and underlying source (in thousands): Three Months Ended March 31, Nine Months Ended March 31, 2024 2023 2024 2023 Net revenue: Supply Chain Services Net administrative fees $ 156,819 $ 148,441 $ 455,409 $ 452,870 Software licenses, other services and support 14,257 11,032 37,954 35,963 Services and software licenses 171,076 159,473 493,363 488,833 Products 56,590 57,212 162,956 183,066 Total Supply Chain Services (a) 227,666 216,685 656,319 671,899 Performance Services Software licenses, other services and support SaaS-based products subscriptions 43,627 44,685 132,532 142,097 Consulting services 21,561 22,087 67,250 57,963 Software licenses 26,533 14,400 62,342 51,197 Other (b) 23,282 24,384 77,848 72,603 Total Performance Services (a) 115,003 105,556 339,972 323,860 Total segment net revenue 342,669 322,241 996,291 995,759 Eliminations (a) (73) (9) (198) (28) Net revenue $ 342,596 $ 322,232 $ 996,093 $ 995,731 _________________________________ (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 and certain revenue from Remitra and PINC AI. Additional segment information related to depreciation and amortization expense, capital expenditures and total assets was as follows (in thousands): Three Months Ended March 31, Nine Months Ended March 31, 2024 2023 2024 2023 Depreciation and amortization expense (a) : Supply Chain Services $ 13,739 $ 13,002 $ 41,107 $ 40,862 Performance Services 17,143 17,189 51,412 53,407 Corporate 1,895 2,000 6,053 6,299 Total depreciation and amortization expense $ 32,777 $ 32,191 $ 98,572 $ 100,568 Capital expenditures: Supply Chain Services $ 5,871 $ 6,571 $ 32,036 $ 19,586 Performance Services 12,240 13,311 34,228 38,576 Corporate 447 166 1,362 302 Total capital expenditures $ 18,558 $ 20,048 $ 67,626 $ 58,464 March 31, 2024 June 30, 2023 Total assets: Supply Chain Services $ 1,463,502 $ 1,317,076 Performance Services 1,099,323 1,209,353 Corporate 800,886 845,062 Total assets before eliminations 3,363,711 3,371,491 Eliminations (b) 19 (4) Total assets $ 3,363,730 $ 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 (loss) Income Before Income Taxes to Segment Adjusted EBITDA	A reconciliation of (loss) income before income taxes to unaudited Segment Adjusted EBITDA, a Non-GAAP financial measure, is as follows (in thousands): Three Months Ended March 31, Nine Months Ended March 31, 2024 2023 2024 2023 (Loss) income before income taxes $ (64,826) $ 65,881 $ 63,666 $ 215,748 Equity in net (income) loss of unconsolidated affiliates (a) (753) (4,630) 1,639 (14,547) Interest expense (income), net 1,763 4,269 (870) 11,759 Other income, net (14,913) (2,954) (18,500) (3,720) Operating (loss) income (78,729) 62,566 45,935 209,240 Depreciation and amortization 20,497 20,275 61,092 65,153 Amortization of purchased intangible assets 12,280 11,916 37,480 35,415 Stock-based compensation (b) 8,283 6,709 23,671 16,859 Acquisition- and disposition-related expenses 1,092 6,294 8,495 11,592 Strategic initiative and financial restructuring-related expenses (61) 1,942 2,969 10,988 Deferred compensation plan expense (c) 3,889 2,859 7,369 3,148 Impairment of assets 140,053 — 140,053 — Other reconciling items, net (22) 95 85 260 Total Non-GAAP Adjusted EBITDA (d) $ 107,282 $ 112,656 $ 327,149 $ 352,655 Non-GAAP Adjusted EBITDA (d) : Supply Chain Services (e) $ 114,021 $ 117,474 $ 343,486 $ 356,978 Performance Services (e) 27,039 24,954 79,768 87,290 Segment Adjusted EBITDA 141,060 142,428 423,254 444,268 Corporate (33,778) (29,772) (96,105) (91,613) Total Non-GAAP Adjusted EBITDA $ 107,282 $ 112,656 $ 327,149 $ 352,655 _________________________________ (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 March 31, 2024 and 2023 and $0.5 million for both the nine months ended March 31, 2024 and 2023. (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)	9 Months Ended
	Mar. 31, 2024 segment brand
Segment Reporting Information [Line Items]
Number of business segments \| segment	2
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	9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Supplemental schedule of non-cash investing and financing activities:
Non-cash additions to property and equipment	$ 24	$ 5
Accrued dividend equivalents	1,459	778
Accrued excise taxes related to repurchase of Class A common stock	2,992	0
Non-cash investment in unconsolidated affiliates	$ 0	$ 7,800

BUSINESS ACQUISITIONS (Details)

BUSINESS ACQUISITIONS (Details) $ in Thousands		9 Months Ended
BUSINESS ACQUISITIONS (Details) $ in Thousands	Oct. 13, 2022 USD ($) provider	Mar. 31, 2024 USD ($)	Jun. 30, 2023 USD ($)
Asset Acquisition, Contingent Consideration [Line Items]
Goodwill		$ 995,852	$ 1,012,355
Goodwill impairment		$ 16,503
TRPN Transferred Assets
Asset Acquisition, Contingent Consideration [Line Items]
Number of TRPN contracts \| provider	900,000,000,000
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		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Jun. 30, 2023
Schedule of Equity Method Investments [Line Items]
Carrying Value	$ 228,511		$ 228,511		$ 231,826
Equity in Net Income (Loss)	753	$ 4,630	(1,639)	$ 14,547
FFF
Schedule of Equity Method Investments [Line Items]
Carrying Value	136,080		136,080		136,080
Equity in Net Income (Loss)	0	1,370	0	9,075
Exela
Schedule of Equity Method Investments [Line Items]
Carrying Value	31,724		31,724		32,905
Equity in Net Income (Loss)	869	2,865	(1,181)	3,635
Qventus
Schedule of Equity Method Investments [Line Items]
Carrying Value	16,000		16,000		16,000
Equity in Net Income (Loss)	0	0	0	0
Prestige
Schedule of Equity Method Investments [Line Items]
Carrying Value	15,749		15,749		15,503
Equity in Net Income (Loss)	284	139	246	610
Other investments
Schedule of Equity Method Investments [Line Items]
Carrying Value	28,958		28,958		$ 31,338
Equity in Net Income (Loss)	$ (400)	$ 256	$ (704)	$ 1,227

INVESTMENTS - Narrative (Detail

INVESTMENTS - Narrative (Details) - health_system	Mar. 31, 2024	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	Mar. 31, 2024	Jun. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan assets	$ 59,435	$ 55,566
Cash equivalents		77
Total assets	59,435	55,643
Earn-out liabilities	28,167	26,603
Total liabilities	28,167	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]
Deferred compensation plan assets	59,435	55,566
Cash equivalents		77
Total assets	59,435	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]
Deferred compensation plan assets	0	0
Cash equivalents		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]
Deferred compensation plan assets	0	0
Cash equivalents		0
Total assets	0	0
Earn-out liabilities	28,167	26,603
Total liabilities	$ 28,167	$ 26,603

FAIR VALUE MEASUREMENTS - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 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%
Contigo Health Reporting Unit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of property, plant and equipment	$ 9,800
Impairment of operating lease right-of-use assets	300
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	1,700	$ 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	28,200	$ 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)	0.010	0.016
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earn-out liabilities	$ 28,167	$ 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	$ 6,700	$ 5,200

FAIR VALUE MEASUREMENTS - Sch_2

FAIR VALUE MEASUREMENTS - Schedule of Fair Value Measurement Input Assumptions (Details) - Valuation Technique, Estimated Future Earnings - Acurity, Inc. (“Acurity”) and Nexera, Inc. (“Nexera”)	Mar. 31, 2024	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 > 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)	0.010	0.016

FAIR VALUE MEASUREMENTS - Sch_3

FAIR VALUE MEASUREMENTS - Schedule of Reconciliation of Earn-Out Liabilities and FFF Put and Call Rights (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Beginning Balance	$ 27,876	$ 24,098	$ 26,603	$ 22,789
Purchases (Settlements)	0	0	(1,375)	1,460
(Gain)/Loss	291	3,076	2,939	2,925
Ending Balance	$ 28,167	$ 27,174	$ 28,167	$ 27,174
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	$ 27,876	$ 24,098	$ 26,603	$ 22,789
Purchases (Settlements)	0	0	(1,375)	1,460
(Gain)/Loss	291	3,076	2,939	2,925
Ending Balance	$ 28,167	$ 27,174	$ 28,167	$ 27,174

CONTRACT BALANCES - Contract As

CONTRACT BALANCES - Contract Assets, Deferred Revenue and Capitalized Contract Costs (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue recognized			$ 20.7
Revenue recognized from performance obligations satisfied in previous periods	$ 7.3	$ 5.4	7.9	$ 3.9
Revenue recognized associated with revised forecasts underlying contracts with variable consideration components	1.1	(0.7)	4.6	(2.7)
Administrative Fees
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue recognized associated with a change in net administration fee revenue	$ 6.2	$ 6.1	$ 3.3	$ 6.6

CONTRACT BALANCES - Remaining P

CONTRACT BALANCES - Remaining Performance Obligation (Details) $ in Millions	Mar. 31, 2024 USD ($)
Revenue from Contract with Customer [Abstract]
Transaction price allocated to remaining performance obligation	$ 757.3
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation to be satisfied (percent)	37%
Remaining performance obligation satisfaction period (in months)	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation to be satisfied (percent)	22%
Remaining performance obligation satisfaction period (in months)	12 months

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Schedule of Goodwill (Details) $ in Thousands	9 Months Ended
	Mar. 31, 2024 USD ($)
Goodwill [Roll Forward]
Goodwill beginning balance	$ 1,012,355
Impairment	(16,503)
Goodwill ending balance	995,852
Supply Chain Services
Goodwill [Roll Forward]
Goodwill beginning balance	386,206
Impairment	0
Goodwill ending balance	386,206
Performance Services
Goodwill [Roll Forward]
Goodwill beginning balance	626,149
Impairment	(16,503)
Goodwill ending balance	$ 609,646

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2024	Jun. 30, 2023
Goodwill [Line Items]
Goodwill impairment		$ 16,503
Contigo Health Reporting Unit
Goodwill [Line Items]
Goodwill impairment	$ 16,500	16,500	$ 54,400
Contigo Health Reporting Unit \| Provider network
Goodwill [Line Items]
Impairment of intangible assets	96,100
Contigo Health Reporting Unit \| Customer relationships
Goodwill [Line Items]
Impairment of intangible assets	11,900
Contigo Health Reporting Unit \| Technology
Goodwill [Line Items]
Impairment of intangible assets	600
Contigo Health Reporting Unit \| Non-compete agreements
Goodwill [Line Items]
Impairment of intangible assets	300
Contigo Health Reporting Unit \| Other
Goodwill [Line Items]
Impairment of intangible assets	4,600
Direct Sourcing Reporting Unit
Goodwill [Line Items]
Goodwill impairment			2,300
Supply Chain Services
Goodwill [Line Items]
Goodwill impairment		0
Accumulated impairment loss	2,300	2,300	2,300
Performance Services
Goodwill [Line Items]
Goodwill impairment		16,503
Accumulated impairment loss	$ 70,900	$ 70,900	$ 54,400

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Gross	$ 565,214	$ 695,714
Accumulated Amortization	(286,161)	(265,684)
Net	$ 279,053	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	(156,370)	(136,751)
Net	$ 229,730	249,349
Provider network
Finite-Lived Intangible Assets [Line Items]
Useful Life	15 years
Gross	$ 0	106,500
Accumulated Amortization	0	(5,029)
Net	$ 0	101,471
Technology
Finite-Lived Intangible Assets [Line Items]
Useful Life	7 years 1 month 6 days
Gross	$ 98,517	99,317
Accumulated Amortization	(71,984)	(67,581)
Net	$ 26,533	31,736
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Useful Life	9 years 3 months 18 days
Gross	$ 41,430	57,930
Accumulated Amortization	(30,959)	(31,846)
Net	$ 10,471	26,084
Trade names
Finite-Lived Intangible Assets [Line Items]
Useful Life	6 years 9 months 18 days
Gross	$ 18,420	18,920
Accumulated Amortization	(13,052)	(11,983)
Net	$ 5,368	6,937
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Useful Life	5 years 2 months 12 days
Gross	$ 17,315	17,715
Accumulated Amortization	(11,528)	(9,738)
Net	$ 5,787	7,977
Other
Finite-Lived Intangible Assets [Line Items]
Useful Life	4 years 1 month 6 days
Gross	$ 3,432	9,232
Accumulated Amortization	(2,268)	(2,756)
Net	1,164	6,476
Other
Finite-Lived Intangible Assets [Line Items]
Gross	1,000	1,000
Performance Services
Finite-Lived Intangible Assets [Line Items]
Net	32,782	160,320
Gross	$ 1,000	$ 1,000

GOODWILL AND INTANGIBLE ASSET_5

GOODWILL AND INTANGIBLE ASSETS - Schedule of Intangible Assets by Segment (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, net	$ 279,053	$ 430,030
Supply Chain Services
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, net	246,271	269,710
Performance Services
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, net	32,782	160,320
Gross	$ 1,000	$ 1,000

GOODWILL AND INTANGIBLE ASSET_6

GOODWILL AND INTANGIBLE ASSETS - Schedule of Estimated Aggregate Amortization Expense (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 9,794
2025	38,189
2026	36,945
2027	34,294
2028	30,681
Thereafter	129,150
Net	$ 279,053

DEBT AND NOTES PAYABLE - Schedu

DEBT AND NOTES PAYABLE - Schedule of Long-Term Debt and Notes Payable (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Debt Instrument [Line Items]
Total debt and notes payable	$ 127,622	$ 418,468
Less: current portion	(102,067)	(316,211)
Total long-term debt and notes payable	25,555	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	126,614	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)				9 Months Ended
	Mar. 31, 2024 USD ($)	Jun. 30, 2023 USD ($)	Dec. 12, 2022 USD ($) extension	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)
Line of Credit Facility [Line Items]
Outstanding borrowings	$ 127,622,000	$ 418,468,000		$ 127,622,000
Proceeds from credit facility				0	$ 350,000,000
Payments on credit facility				215,000,000	$ 265,000,000
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	9 Months Ended
	Mar. 31, 2024	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	$ 126.6	$ 201.2
Debt discount	1.7	4.2
Notes payable included in current portion of long-term debt	101.1	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	9 Months Ended
	Jul. 25, 2023	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2024	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		$ 36,615		$ 36,615	$ 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	738,000		738,000
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		605,657		605,657
Current portion of liability related to the sale of future revenues		36,600		36,600
Revenue		13,200		39,700
Imputed interest expense associated with the sale of future revenues		$ 3,900	$ 10,306	$ 10,300
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 - Schedule of Activity of Liability Related to the Sale of Future Revenues (Details) - Non-Healthcare Holdings, LLC - USD ($) $ in Thousands	3 Months Ended	5 Months Ended	9 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2024
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	10,306	$ 10,300
Payments against the liability related to the sale of future revenues		$ (34,469)
Liability related to the sale of future revenues	$ 605,657		$ 605,657

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - USD ($) $ / shares in Units, $ in Thousands

3 Months Ended

9 Months Ended

Feb. 09, 2024

Feb. 05, 2024

Jan. 25, 2024

Mar. 31, 2024

Dec. 31, 2023

Sep. 30, 2023

Mar. 31, 2023

Dec. 31, 2022

Sep. 30, 2022

Mar. 31, 2024

Mar. 31, 2023

Feb. 07, 2024

Jun. 30, 2023

Class of Stock [Line Items]

Repurchase of Class A common stock

$ 400,000

$ 0

Dividends declared (in dollars per share)

$ 0.21

ASR Agreement

Class of Stock [Line Items]

Dividends declared (in dollars per share)

$ 21.29

Class A Common Stock

Class of Stock [Line Items]

Common stock outstanding (in shares)

104,820,281

119,158,483

Common stock, par value (in dollars per share)

$ 0.01

Per share amount of dividends (in dollars per share)

$ 0.21

Class A Common Stock | ASR Agreement

Class of Stock [Line Items]

Repurchase of Class A common stock

$ 400,000

Aggregate number of shares to be repurchased (in shares)

$ 400,000

Stock repurchased during period (in shares)

15,000,000

Initial deliveries of shares repurchased

$ 320,000

EARNINGS (LOSS) PER SHARE - Rec

EARNINGS (LOSS) PER SHARE - Reconciliation of the Numerator and Denominator Used for Basic and Diluted Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Mar. 31, 2024	Mar. 31, 2023
Numerator for basic and diluted (loss) earnings per share:
Net (loss) income attributable to stockholders	$ (40,195)			$ 46,801			$ 58,868	$ 153,563
Denominator for (loss) earnings per share:
Basic weighted average shares outstanding (in shares)	111,156			118,872			116,754	118,668
Effect of dilutive securities:
Diluted weighted average shares (in shares)	111,156			119,816			117,323	119,832
(Loss) earnings per share attributable to stockholders:
Basic (in dollars per share)	$ (0.36)			$ 0.39			$ 0.50	$ 1.29
Diluted (in dollars per share)	$ (0.36)			$ 0.39			$ 0.50	$ 1.28
Net (loss) income	$ (49,162)	$ 52,866	$ 42,410	$ 48,649	$ 64,374	$ 42,959	$ 46,114	$ 155,982
Net loss (income) attributable to non-controlling interest	8,967			(1,848)			12,754	(2,419)
Net (loss) income attributable to stockholders	$ (40,195)			$ 46,801			$ 58,868	$ 153,563
Stock options
Effect of dilutive securities:
Effect of dilutive securities (in shares)	0			76			0	103
Restricted stock units
Effect of dilutive securities:
Effect of dilutive securities (in shares)	0			528			484	519
Performance share awards
Effect of dilutive securities:
Effect of dilutive securities (in shares)	0			340			85	542
(Loss) earnings per share attributable to stockholders:
Antidilutive securities excluded from computation of earnings per share (in shares)	300			400			200	300
Options and Restricted Stock Units
(Loss) earnings per share attributable to stockholders:
Antidilutive securities excluded from computation of earnings per share (in shares)	1,000			300			1,200	300

STOCK-BASED COMPENSATION - Narr

STOCK-BASED COMPENSATION - Narrative (Details) - USD ($) $ in Thousands		9 Months Ended
	May 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Sep. 24, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected effective income tax rate (percent)		25%	26%
Number of shares available for grant (in shares)				0
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)		14,800,000
Unrecognized stock-based compensation expense		$ 54,651
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)		6,000,000
Number of shares available for grant (in shares)		5,900,000
Restricted stock units and Restricted stock awards \| 2013 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)		3 years
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		$ 17,864
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 units and Restricted stock awards \| 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 units and Restricted stock awards \| 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		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Pre-tax stock-based compensation expense	$ 8,145	$ 6,560	$ 23,215	$ 16,375
Less: deferred tax benefit	1,340	2,400	4,266	4,407
Total stock-based compensation expense, net of tax	6,805	4,160	18,949	11,968
Reduction (increase) in deferred tax benefit	$ 700	$ 700	$ 1,600	$ 200

STOCK-BASED COMPENSATION - Sc_2

STOCK-BASED COMPENSATION - Schedule of Information Related to Restricted Stock, Performance Share Awards and Stock Options (Details)	9 Months Ended
	Mar. 31, 2024 $ / shares shares
Restricted Stock
Number of Awards
Outstanding, beginning balance (in shares) \| shares	1,847,790
Granted (in shares) \| shares	1,108,353
Vested/exercised (in shares) \| shares	(409,632)
Forfeited (in shares) \| shares	(174,454)
Outstanding, ending balance (in shares) \| shares	2,372,057
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	32.16
Forfeited (in dollars per share) \| $ / shares	29.48
Outstanding, ending balance (in dollars per share) \| $ / shares	$ 28.17
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	(110,792)
Outstanding, ending balance (in shares) \| shares	1,585,153
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	31.01
Outstanding, ending balance (in dollars per share) \| $ / shares	$ 28.15
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	(13,061)
Outstanding, ending balance (in shares) \| shares	452,261
Stock options outstanding and exercisable (in shares) \| shares	452,261
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	32.30
Outstanding, ending balance (in dollars per share) \| $ / shares	33.18
Stock options outstanding and exercisable (in dollars per share) \| $ / shares	$ 33.18

STOCK-BASED COMPENSATION - Sc_3

STOCK-BASED COMPENSATION - Schedule of Unrecognized Stock-Based Compensation Expense (Details) - 2013 Equity Incentive Plan $ in Thousands	9 Months Ended
	Mar. 31, 2024 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Stock-Based Compensation Expense	$ 54,651
Weighted Average Amortization Period	2 years
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Stock-Based Compensation Expense	$ 36,787
Weighted Average Amortization Period	2 years
Performance share awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Stock-Based Compensation Expense	$ 17,864
Weighted Average Amortization Period	1 year 10 months 24 days

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Income Tax Contingency [Line Items]
Income tax expense		$ (15,664)	$ 17,232	$ 17,552	$ 59,766
Effective tax rate (percent)		24%	26%	28%	28%
Excluding impairment of assets
Income Tax Contingency [Line Items]
Effective tax rate (percent)			26%
Non-Healthcare Holdings, LLC
Income Tax Contingency [Line Items]
Cash tax obligations recorded				$ 151,600
Tax payments made related to revenues received				148,600
Deferred taxes released to income tax expense				$ 152,300
Non-Healthcare Holdings, LLC \| Forecast
Income Tax Contingency [Line Items]
Tax payments made related to revenues received	$ 3,000

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Operating lease expense	$ 2.4	$ 2.5	$ 7.3	$ 7.5
Remaining lease term (in years)	2 years 1 month 6 days		2 years 1 month 6 days
Discount rate (percent)	4%		4%

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Schedule of Future Minimum Rental Payments for Operating Leases (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Remainder of the current fiscal year	$ 3,150
Year one	12,389	$ 12,381
Year two	9,005	12,389
Year three	1,324	9,005
Year four		1,324
Total future minimum lease payments	25,868	35,099
Less: imputed interest	1,085	1,947
Total operating lease liabilities	$ 24,783	$ 33,152
Operating lease, liability, current, statement of financial position [Extensible List]	Other current liabilities	Other current liabilities
Operating lease liability included in other liabilities, current	$ 11,700

SEGMENTS - Narrative (Details)

SEGMENTS - Narrative (Details)	9 Months Ended
SEGMENTS - Narrative (Details)	Mar. 31, 2024 segment brand
Segment Reporting Information [Line Items]
Number of reportable business segments \| segment	2
Number of sub-brands \| brand	3

SEGMENTS - Schedule of Segment

SEGMENTS - Schedule of Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Jun. 30, 2023
Segment Reporting Information [Line Items]
Net revenue	$ 342,596	$ 322,232	$ 996,093	$ 995,731
Total depreciation and amortization expense	32,777	32,191	98,572	100,568
Total capital expenditures	18,558	20,048	67,626	58,464
Total assets	3,363,730		3,363,730		$ 3,371,487
Net administrative fees
Segment Reporting Information [Line Items]
Net revenue	156,819	148,441	455,409	452,870
Software licenses, other services and support
Segment Reporting Information [Line Items]
Net revenue	129,187	116,579	377,728	359,795
Services and software licenses
Segment Reporting Information [Line Items]
Net revenue	286,006	265,020	833,137	812,665
Products
Segment Reporting Information [Line Items]
Net revenue	56,590	57,212	162,956	183,066
Operating Segments
Segment Reporting Information [Line Items]
Net revenue	342,669	322,241	996,291	995,759
Operating Segments \| Supply Chain Services
Segment Reporting Information [Line Items]
Net revenue	227,666	216,685	656,319	671,899
Total depreciation and amortization expense	13,739	13,002	41,107	40,862
Total capital expenditures	5,871	6,571	32,036	19,586
Total assets	1,463,502		1,463,502		1,317,076
Operating Segments \| Performance Services
Segment Reporting Information [Line Items]
Net revenue	115,003	105,556	339,972	323,860
Total depreciation and amortization expense	17,143	17,189	51,412	53,407
Total capital expenditures	12,240	13,311	34,228	38,576
Total assets	1,099,323		1,099,323		1,209,353
Operating Segments \| Operating Segments and Corporate Non-segment
Segment Reporting Information [Line Items]
Total assets	3,363,711		3,363,711		3,371,491
Operating Segments \| Net administrative fees \| Supply Chain Services
Segment Reporting Information [Line Items]
Net revenue	156,819	148,441	455,409	452,870
Operating Segments \| Software licenses, other services and support \| Supply Chain Services
Segment Reporting Information [Line Items]
Net revenue	14,257	11,032	37,954	35,963
Operating Segments \| Services and software licenses \| Supply Chain Services
Segment Reporting Information [Line Items]
Net revenue	171,076	159,473	493,363	488,833
Operating Segments \| Products \| Supply Chain Services
Segment Reporting Information [Line Items]
Net revenue	56,590	57,212	162,956	183,066
Operating Segments \| SaaS-based products subscriptions \| Performance Services
Segment Reporting Information [Line Items]
Net revenue	43,627	44,685	132,532	142,097
Operating Segments \| Consulting services \| Performance Services
Segment Reporting Information [Line Items]
Net revenue	21,561	22,087	67,250	57,963
Operating Segments \| Software licenses \| Performance Services
Segment Reporting Information [Line Items]
Net revenue	26,533	14,400	62,342	51,197
Operating Segments \| Other \| Performance Services
Segment Reporting Information [Line Items]
Net revenue	23,282	24,384	77,848	72,603
Corporate
Segment Reporting Information [Line Items]
Total depreciation and amortization expense	1,895	2,000	6,053	6,299
Total capital expenditures	447	166	1,362	302
Total assets	800,886		800,886		845,062
Eliminations
Segment Reporting Information [Line Items]
Net revenue	(73)	$ (9)	(198)	$ (28)
Eliminations
Segment Reporting Information [Line Items]
Total assets	$ 19		$ 19		$ (4)

SEGMENTS - Reconciliation of (l

SEGMENTS - Reconciliation of (loss) Income Before Income Taxes to Segment Adjusted EBITDA (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
(Loss) income before income taxes	$ (64,826)	$ 65,881	$ 63,666	$ 215,748
Equity in net (income) loss of unconsolidated affiliates	(753)	(4,630)	1,639	(14,547)
Interest expense (income), net	1,763	4,269	(870)	11,759
Other income, net	(14,913)	(2,954)	(18,500)	(3,720)
Operating (loss) income	(78,729)	62,566	45,935	209,240
Depreciation and amortization	20,497	20,275	61,092	65,153
Amortization of purchased intangible assets	12,280	11,916	37,480	35,415
Stock-based compensation	8,283	6,709	23,671	16,859
Acquisition- and disposition-related expenses	1,092	6,294	8,495	11,592
Strategic initiative and financial restructuring-related expenses	(61)	1,942	2,969	10,988
Deferred compensation plan expense	3,889	2,859	7,369	3,148
Impairment of assets	140,053	0	140,053	0
Other reconciling items, net	(22)	95	85	260
Non-GAAP Adjusted EBITDA	107,282	112,656	327,149	352,655
Employee Stock Purchase Plan (ESPP)
Segment Reporting Information [Line Items]
Stock-based compensation	100	100	500	500
Operating Segments
Segment Reporting Information [Line Items]
Non-GAAP Adjusted EBITDA	141,060	142,428	423,254	444,268
Operating Segments \| Supply Chain Services
Segment Reporting Information [Line Items]
Non-GAAP Adjusted EBITDA	114,021	117,474	343,486	356,978
Operating Segments \| Performance Services
Segment Reporting Information [Line Items]
Non-GAAP Adjusted EBITDA	27,039	24,954	79,768	87,290
Corporate
Segment Reporting Information [Line Items]
Non-GAAP Adjusted EBITDA	$ (33,778)	$ (29,772)	$ (96,105)	$ (91,613)