Benzinga | Jun 29, 2021 08:33AM EDT

REPAY Announces Group Purchasing Agreement For Advanced Accounts Payable Solutions With Premier Inc.; Financial Terms Not Disclosed

Agreement will expand REPAY's footprint within the healthcare industry by offering advanced accounts payable solutions to Premier members

Repay Holdings Corporation (NASDAQ:RPAY) ("REPAY"), a leading provider of vertically integrated payment solutions, today announced a group purchasing agreement for advanced accounts payable solutions with Premier Inc., a leading healthcare improvement company.

REPAY's agreement with Premier is through CPS Payment Services ("CPS"), a REPAY company and market leader in healthcare accounts payable (AP) virtual card disbursement services, and will provide Premier members with advanced automation capabilities for AP disbursements, enabling healthcare providers and hospitals to streamline internal workflows and realize savings through revenue-generating rebates.

CPS' TotalPay platform automates the facilitation of all supplier payments for a hospital or health system while helping generate substantial monthly cash rebates based on payments to accounts payable suppliers. CPS has a proprietary network of healthcare suppliers, which typically enables healthcare clients to generate significantly increased rebates compared to most bank programs.

"We are honored to have been awarded this agreement with Premier and look forward to helping healthcare providers optimize supplier payments, create operational efficiencies and improve financial performance through powerful AP automation," said Darin Horrocks, SVP, B2B, REPAY.

Premier is a leading healthcare improvement company, uniting an alliance of more than 4,100 U.S. hospitals and approximately 200,000 other providers and organizations to transform healthcare. With integrated data and analytics, collaboratives, supply chain solutions, and consulting and other services, Premier enables better care and outcomes at a lower cost.