Medication Management Services Leader Cureatr Acquires SinfoníaRx

Rhea-AI Summary

Cureatr has acquired SinfoníaRx from Tabula Rasa HealthCare (NASDAQ: TRHC), enhancing its medication therapy management (MTM) services. This acquisition is expected to strengthen Cureatr's clinical pharmacy offerings and expand its team, improving medication management for health plans and patients nationwide. The integration aims to reduce healthcare costs and enhance patient experience through innovative programs. Cureatr's existing platform, Meds 360°, will leverage SinfoníaRx's technology and expertise to address the $528 billion medication management issue in the U.S. The acquisition aligns with Cureatr's mission to provide essential clinical pharmacist services to patients.

Positive

• Acquisition of SinfoníaRx expands Cureatr's scale and service offerings.
• Enhanced MTM services aim to improve medication adherence and patient outcomes.
• Cureatr's Meds 360° platform will utilize SinfoníaRx's technology to manage medications effectively.

Negative

• None.

NEW YORK, March 3, 2023 /PRNewswire/ -- Cureatr, a national, value-based medication management services company improving quality and reducing total cost of care, announces it has acquired the SinfoníaRx business, an industry leader in medication therapy management (MTM), from Tabula Rasa HealthCare, Inc.^® (NASDAQ: TRHC), a leading healthcare technology company advancing the safe use of medications.

This acquisition will round out Cureatr's existing clinical pharmacy services to include MTM and expand the company's scale with a larger team of clinical pharmacists, pharmacy technicians, and pharmacy interns serving health plans, pharmacy benefit managers (PBMs), and patients across the country. With the additional capability to offer MTM services, Cureatr will further its commitment to better manage medications and reduce the total cost of care through longitudinal and targeted clinical service programs. These programs aim to improve patient experience, medication adherence, access, quality, and safety while reducing avoidable utilization and adverse drug outcomes.

"Cureatr continues its mission to bring a clinical pharmacist to the care team of every patient who needs one and provide the critical services patients need, at the moment they need it, to keep them healthy and reduce risk," said Richard Resnick, Chief Executive Officer of Cureatr. "The addition of the SinfoníaRx team and our ability to provide MTM services further advance our mission. We are thrilled to welcome this accomplished team to Cureatr, honored to provide measurable value to our new customers, and excited to realize the synergies of coming together."

"Cureatr has demonstrated a tremendously positive impact in the transitions of care space through a truly unique clinical model," said Kevin Boesen, Founder of SinfoníaRx. "We're thrilled to bring this expertise to the millions of patients we serve by integrating Cureatr's unique assets and incredibly talented clinical pharmacists, comprehensive data, and strong technology."

Cureatr will utilize and continue to invest in SinfoníaRx's state-of-the-art call centers, strong partnerships with pharmacy schools, and proprietary software, RxCompanion. This powerful solution personalizes patient care by alerting for potential medication regimen problems utilizing pharmacy claims, medical claims, and other sources. Based on urgency and complexity, RxCompanion triages patients to the most qualified clinical team member for appropriate intervention and support.

Cureatr strives to be the vanguard in repairing the $528 billion suboptimal medication management problem in the United States. Together with the SinfoníaRx team and assets onboard, Cureatr will continue pursuing its vision for a world where people needing medications can access and use them safely and effectively to live long, healthy lives.

Uniquely positioned as the leading provider of holistic, patient-centered, and comprehensive medication management inspired by patients and designed by clinicians, Cureatr Clinic's pharmacists leverage Cureatr's powerful medication management platform (Meds 360°) to reconcile a patient's medications and identify potential health risks from numerous potential sources/causes, among other benefits. Meds 360° aggregates, analyzes, and reports on medical history data from multiple third-party sources, including real-time admission, discharge, and transfer (ADT) notifications, medical progress notes, labs, discharge summaries, and 12-month prescription fill history, complemented with health plan-provided pharmacy and medical claims.

The Cureatr Clinic's telehealth programs have four foundational pillars: clinical pharmacist expertise, data and technology enablement, member and provider engagement, and evidence-based results. The programs focus on reducing total cost of care, and avoidable utilization, which are differentiated by the company's ability to:

• Access comprehensive fill data, inclusive of scripts paid for with cash, coupon, and workers' compensation.
• Maintain a tight grip on clinical quality and positive member experience that may not be as easy to maintain in a delegated third-party call center, a gig-economy staffing model, or through AI-based engagement and intervention models.
• Follow patients nationally from a discharge notification perspective, which allows for real-time clinical intervention and coordination when patients need support most.
• Reach and engage patients through omnichannel outreach methods.
• Scale an in-house, board-certified clinical pharmacist workforce with licensure to work with the entire eligible patient population in any state.
• Make unbiased recommendations in the best interest of the health plan and member, with no in-house pharmacy or mail order arm with conflicting incentives. Cureatr connects members with existing health plan benefits and programs.

About Cureatr

Cureatr is the new breed of clinical, value-based provider: using expert clinical pharmacists, cutting-edge healthcare data, technology, insights, and patient relationship-building to solve the complex medication management equation, ultimately reducing cost of care and improving patient outcomes.

Cureatr Clinic, a national medication management clinic, is staffed by residency-trained and board-certified clinical pharmacists who work to combat suboptimal medication use, especially during those transitions of care where the most dangerous and costly mistakes are made. Learn more about Cureatr at cureatr.com.

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SOURCE Cureatr

FAQ

What is the significance of Cureatr acquiring SinfoníaRx?

The acquisition enhances Cureatr's medication therapy management capabilities, allowing for improved patient care and reduced healthcare costs.

How does the acquisition affect Tabula Rasa HealthCare (TRHC)?

Tabula Rasa HealthCare divested SinfoníaRx, which could impact its service offerings in the medication management space.

When was the acquisition of SinfoníaRx by Cureatr announced?

The acquisition was announced on March 3, 2023.

What are the expected benefits of the acquisition for Cureatr?

Cureatr expects to enhance its clinical pharmacy services, improve patient adherence to medications, and reduce overall care costs.

What technology will Cureatr leverage from SinfoníaRx?

Cureatr will utilize SinfoníaRx's proprietary software, RxCompanion, to personalize patient care and manage medication regimens.