Investors - Press Releases
Tabula Rasa HealthCare Agrees to Sell its PrescribeWellness Business to Transaction Data Systems
The Companies also Agree to a
TDS is a leading provider of pharmacy-focused, patient-centric solutions, supporting one of the largest installed bases of pharmacies in the industry with Rx30 and Computer-Rx systems in all 50 states and
TDS will add PrescribeWellness, to its industry-leading portfolio of clinical applications to support enhanced collaboration among pharmacists, providers, payers, and patients. Further, TDS's plans to accelerate product innovation will create solutions to further optimize pharmacy workflows, support real-time clinical interventions and expand patient engagement opportunities to clients.
The companies also announced a strategic partnership to offer TRHC's proprietary MedWise® Science, an accumulative, simultaneous, multi drug analysis tool that identifies medication related risk, into TDS's pharmacy management systems upon the consummation of the transaction. This innovative technology-enabled medication optimization solution identifies the cause of medication-related problems, including adverse drug events, with the goal of improving patients' health and well-being while reducing avoidable healthcare costs.
"Today's announcement is a significant, strategic step forward in unlocking stockholder value, while extending the reach of our MedWise Science through TDS's strong network," said TRHC Chairman and CEO,
"At TDS, we are dedicated to providing pharmacists with the tools to address their critical and expanding role in delivering high quality patient care. Adding PrescribeWellness to our existing suite of industry-leading PMS and patient-centric solutions will enable our pharmacist customers to engage with patients, ensure access to the right therapies, drive medication adherence, improve outcomes, boost patient loyalty and generate incremental pharmacy revenue," said
The transaction is anticipated to close, subject to customary closing conditions and the expiration or termination of regulatory periods, in the third quarter of 2022.
For over 40 years, TDS has been dedicated to the success of the pharmacy market and pharmacy supply chain. With its portfolio of products and services including Rx30, Computer-Rx, KloudScript,
About BlackRock LTPC
BlackRock LTPC is an innovative private equity strategy focused on investing in high-quality businesses and value creation through active collaboration with management teams. The strategy's flexible duration and prudent approach to leverage preserve optionality for growth and help enable compounded capital appreciation. LTPC's team of 21 professionals are based in
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements give current expectations or forecasts of future events or the Company's future financial or operating performance, and include the Company's expectations regarding healthcare regulations, industry trends, available opportunities to the Company, the financial and operating performance of the Company, the impacts of the COVID-19 pandemic, and the Company's expectations for 2022 and beyond. Such statements are identified by use of the words "believe," "will," "may," "estimate," "expect," "intend," "plans," "predict," "could," or the negative of these terms or similar expressions. You should read these statements carefully because they discuss future expectations, contain projections of future results of operations or financial condition, or state other "forward-looking" information. These statements relate to, without limitation, our future plans, objectives, expectations, intentions, the consummation of the PrescribeWellness sale and divestitures of certain businesses of TRHC and the timing and benefits thereof, and financial performance and the assumptions that underlie these statements. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated by the forward-looking statements. Factors that might cause such a difference include, but are not limited to, (i) the impacts of the current COVID-19 pandemic and other health epidemics; (ii) our ability to adapt to changes or trends within the market for healthcare in the
View original content to download multimedia:https://www.prnewswire.com/news-releases/tabula-rasa-healthcare-agrees-to-sell-its-prescribewellness-business-to-transaction-data-systems-301571458.html
TRHC Media Contact, Anthony Mirenda, email@example.com, 908-380-2143; TRHC Investors, Frank Sparacino, firstname.lastname@example.org, 866.648.2767; Transaction Data Systems, Tycene Fritcher, email@example.com, 813-786-1136, BlackRock, Christopher Beattie, Christopher.firstname.lastname@example.org, 646-231-8518