Welcome to our dedicated page for Tabula Rasa HealthCare news (Ticker: TRHC), a resource for investors and traders seeking the latest updates and insights on Tabula Rasa HealthCare stock.
Tabula Rasa HealthCare, Inc. (NASDAQ: TRHC) is a leading healthcare company that specializes in personalized, comprehensive care for value-based care organizations. The company offers innovative service models and cutting-edge healthcare technology solutions that improve patient outcomes and maximize provider efficiency. Headquartered in Moorestown, New Jersey, TRHC focuses on optimizing medication management and delivering precise, individualized care to at-risk populations.
TRHC's core services include comprehensive pharmacy services, personalized medication management, and a suite of clinical and business management tools. These tools help health plans and provider groups optimize utilization and improve patient health. The company's technology-enabled solutions are designed to reduce risk, enhance medication efficacy, and improve overall healthcare efficiencies.
In recent developments, TRHC has entered into a definitive agreement to be acquired by Nautic Partners for $10.50 per share in cash, valuing the company at approximately $570 million. This acquisition is set to combine TRHC with ExactCare Pharmacy, another portfolio company of Nautic, enhancing the reach and capabilities of both entities. The merger is expected to close in the fourth quarter of 2023, subject to customary closing conditions.
TRHC's recent financial performance has been strong, with significant organic growth in its core PACE (Program of All-Inclusive Care for the Elderly) market. The company has focused on developing and expanding partnerships with risk-bearing healthcare organizations, aiming to serve the most complex care needs. This strategic focus has led to impressive financial results and increased profitability.
For those interested in the latest updates, TRHC will hold a conference call and webcast to discuss its second quarter 2023 financial results on August 8, 2023. The company continuously updates its stakeholders through its Investor Relations section on its website, providing access to financial results, earnings calls, and other significant announcements.
Tabula Rasa HealthCare (TRHC) has partnered with OneOme, co-founded by Mayo Clinic, to enhance pharmacogenomics (PGx) implementation in healthcare. This collaboration combines OneOme's RightMed® Test with TRHC's MedWise® technology, aiming to optimize patient medication regimens by analyzing gene variations and external factors affecting drug response. The partnership is expected to improve patient outcomes and reduce adverse drug events, providing significant value to patients, providers, and payors.
Tabula Rasa HealthCare (TRHC) has expanded its COVID-19 services for pharmacies, enhancing patient engagement solutions to support vaccine administration. With the launch of contact-free vaccination management through its PrescribeWellness platform, pharmacies can streamline vaccine intake and scheduling. The Federal Retail Pharmacy Program now includes community pharmacists as key vaccine providers, necessitating TRHC's continued support. TRHC's tele-pharmacy services, staffed by over 800 professionals, ensure vaccine education and appointment management while adhering to strict privacy regulations.
Tabula Rasa HealthCare, Inc. (TRHC) has partnered with athenahealth to integrate its MedWise® technology into the athenahealth Marketplace. This technology enhances medication safety by identifying multi-drug interactions, improving treatment adherence, and ultimately lowering healthcare costs. The MedWise Risk Score will now be accessible to healthcare providers at the point of prescribing, aiding in risk management and medication optimization. This partnership aims to enhance medication outcomes and reduce total medical spending across athenahealth's extensive provider network.
Tabula Rasa HealthCare (TRHC) announces a new study published in the Journal of Patient Safety, demonstrating that higher Medication Risk Scores (MRS) correlate with increased mortality risks. Conducted using EHR data from over 427,000 patients, the study highlights the MedWise Risk Score as a significant predictor of adverse drug events (ADEs). This innovative model emphasizes the need for clinical pharmacy interventions for patients with elevated MRS, particularly those aged 30-49 with MRS ≥20, to enhance medication safety and reduce hospitalizations.
Tabula Rasa HealthCare (TRHC) has partnered with Infectious Disease Connect to integrate its precision dosing solution, DoseMeRx, into ID Connect's software, ILÚM Insight. This collaboration aims to provide real-time access to personalized dosing for antimicrobials, enhancing patient safety and optimizing pharmacy workflows. TRHC's technology supports healthcare providers in individualizing medication dosing, ultimately improving patient outcomes and reducing clinician workload. The partnership aligns with both companies' missions to enhance healthcare delivery.
Tabula Rasa HealthCare (TRHC) supports New Jersey legislation to create a medication risk reduction model for the state's Medicaid program. CEO Calvin Knowlton highlighted that this model aligns with TRHC's Enhanced Medication Therapy Management (EMTM) approach, aiming to minimize adverse drug events (ADEs). The legislation, unanimously approved by both the NJ Senate and Assembly Human Services Committee, is backed by Governor Phil Murphy. TRHC's MedWise technology has demonstrated effectiveness in reducing ADEs and associated healthcare costs, reflecting the company's commitment to improving medication safety.
On March 10, 2021, Tabula Rasa HealthCare (NASDAQ: TRHC) announced a partnership with eight state pharmacy associations to promote its medication safety software, MedWise™. This initiative aims to educate pharmacists on enhancing patient outcomes and reducing costs by becoming Certified MedWise Advisors™. MedWise helps identify multi-drug interactions and improve medication management, contributing to safer healthcare practices. TRHC's software is positioned as a significant advancement in pharmacy care, with plans to expand its reach across the U.S.
Tabula Rasa HealthCare (TRHC) announced significant milestones in March 2021, achieving its highest-ever PACE census enrollment and a record net enrollment month. This rebound follows a COVID-19-related decline from spring 2020, boosted by vaccination efforts. The company also implemented new pharmacy clients and expanded services for existing ones, contributing to future revenue growth. Currently, 28 new PACE centers are contracted to open, projected to generate about $50 million in annual revenue at full capacity.
Tabula Rasa HealthCare (TRHC) reported its 2020 financial results, showing a total revenue of $297.2 million, up 4% from 2019, driven by product revenue growth of 16%. While fourth-quarter revenue exceeded guidance at $77.1 million, Adjusted EBITDA declined to $21.8 million, impacted by core expenses and a net loss of $81 million for the year. Looking ahead, TRHC expects revenue growth of 13%-20% in 2021, driven by new contracts and recovering PACE census growth, despite ongoing challenges from COVID-19.
FAQ
What is the market cap of Tabula Rasa HealthCare (TRHC)?
What does Tabula Rasa HealthCare, Inc. do?
Where is Tabula Rasa HealthCare headquartered?
What recent acquisition involves Tabula Rasa HealthCare?
What are the core services provided by TRHC?
How does TRHC improve patient care?
What is PACE and how is TRHC involved?
What were TRHC's recent financial results?
When is TRHC's next financial results call?
What is the significance of TRHC's merger with ExactCare Pharmacy?
How can investors stay updated on TRHC's latest news?
