Tabula Rasa HealthCare, Inc. - TRHC STOCK NEWS

Tabula Rasa HealthCare (NASDAQ: TRHC) has announced a conference call to discuss its fourth quarter and full year 2022 financial results scheduled for Tuesday, March 7, 2023, at 8:30 a.m. EDT. The financial results will be released after market close on Monday, March 6, 2023. Interested participants can join via webcast or telephone. TRHC specializes in medication safety solutions aimed at optimizing medication regimens and reducing adverse drug events. Their proprietary technology, including MedWise®, enhances patient outcomes and is utilized by health plans and provider groups across the U.S.

Tabula Rasa HealthCare (TRHC) reported preliminary estimated revenue from continuing operations for Q4 2022 between $82 million and $83 million, exceeding its prior guidance of $77.5 million to $80.5 million. The company, focused on medication safety solutions, plans to share full financial results and guidance for 2023 in early March. President and Interim CEO Brian W. Adams expressed confidence in the company's core PACE market growth and opportunities in adjacent markets. However, the reported figures are preliminary and subject to completion of financial procedures.

Tabula Rasa HealthCare (TRHC) has secured a three-year agreement with the Center for Elders' Independence (CEI), one of the largest PACE programs in the U.S. This agreement will enhance comprehensive pharmacy and risk adjustment services for CEI's five centers serving over 1,000 participants in East San Francisco. This partnership, which expands upon TRHC's previous work with CEI, aims to optimize medication regimens and improve participant care, especially given the language diversity of CEI's participants. This agreement highlights TRHC's growth in the PACE market.

Tabula Rasa HealthCare (NASDAQ: TRHC) reported Q3 2022 results showing a 14% revenue increase year-over-year to $77.1 million. However, the company experienced a GAAP net loss of $25.9 million, compared to $11.8 million the previous year, largely due to costs associated with leadership changes. Adjusted EBITDA decreased to $2.1 million from $3.1 million. The company holds $80.8 million in cash as of September 30, 2022. PACE participants increased by 8%, bolstering future growth outlook amidst robust demand.

Tabula Rasa HealthCare, Inc.® (TRHC), a healthcare technology leader, has appointed April D. Gill as Chief Commercial Officer to enhance its commercialization strategy. With over 20 years of healthcare experience, Gill will lead TRHC in executing marketing, sales, and product strategies. Brian Adams, President and Interim CEO, emphasized her expertise in driving growth and client success. Previously, Gill held executive roles at Virgin Pulse and Welltok, focusing on value-based products and strategic initiatives. TRHC aims to optimize medication safety solutions, improving patient outcomes and reducing healthcare costs.

Tabula Rasa HealthCare (TRHC) announced a conference call on November 4, 2022, at 8:30 a.m. EDT, to discuss its third quarter 2022 financial results. The earnings report will be released on November 3, 2022, after market close. TRHC focuses on medication safety solutions, helping to optimize medication regimens and reduce adverse drug events, which are a leading cause of death in the US. The company’s technology, including MedWise®, aims to improve patient outcomes and lower healthcare costs.

On October 11, 2022, Tabula Rasa HealthCare, Inc. (TRHC) announced that Ron Mitchell, co-founder and CEO of Humanity Health, has joined its Board of Directors. This change follows the retirement of A. Gordon Tunstall, effective October 6, 2022. Michael Purcell, Independent Chair, emphasized the importance of fostering a high-performing team and highlighted Mitchell's expertise in talent acquisition and development. Mitchell expressed enthusiasm about contributing to TRHC during a critical growth phase, particularly in value-based care and medication management innovation.

Tabula Rasa HealthCare, Inc. (TRHC) hosted its 2022 Clinical Advisory Panel Meeting on September 15-16 in Moorestown, NJ, gathering PACE medical directors nationwide. The meeting aimed to share insights and strategies, particularly focusing on opioid deprescribing and pharmacogenomics. TRHC emphasized personalized pharmacotherapy as a way to enhance medication safety and reduce adverse drug events among elderly patients. With services like MedWise® Science, TRHC aims to optimize medication regimens and improve health outcomes, further advancing its role in value-based care.

On September 14, 2022, Tabula Rasa Healthcare (TRHC) announced a cooperation agreement with its largest shareholder, Indaba Capital Management, which holds a 25% stake. Key changes include the retirement of Calvin and Orsula Knowlton from the Board and the appointment of Derek Schrier and Jonathan Schwartz. Michael Purcell has been appointed as Independent Chair. The Board intends to seek stockholder approval to declassify its structure by 2025 and has formed a strategic review committee to enhance shareholder value. Leadership transitions include Brian Adams serving as interim CEO.