Tabula Rasa HealthCare Makes Key Organizational Changes as Part of Strategic Growth Plans

Rhea-AI Summary

Tabula Rasa HealthCare (TRHC) announced significant organizational changes aimed at strengthening its corporate structure and promoting strategic growth, particularly for its MedWise solutions. Effective immediately, Brian W. Adams is appointed Co-President while retaining his CFO role. This move is designed to unify critical functions within the company and allow CEO Calvin H. Knowlton to focus on broader strategic goals. Adams brings extensive experience in strategic acquisitions and financial optimization, while Orsula V. Knowlton will also enhance diversity efforts alongside her marketing role.

Positive

• Brian W. Adams promoted to Co-President and retaining CFO role to align strategy and operations.
• Organizational changes expected to enhance strategic growth and improve operational efficiency.
• Adams brings a wealth of experience in strategic acquisitions, having engineered eleven during his tenure.

Negative

• None.

MOORESTOWN, N.J., Nov. 8, 2021 /PRNewswire/ -- Tabula Rasa HealthCare, Inc.® (TRHC) (NASDAQ: TRHC), a leading healthcare technology company advancing the safe use of medications, has announced important organizational changes that will enhance TRHC's corporate structure and reinforce strategic growth initiatives, with a focus on the Company's MedWise solutions.

Tabula Rasa HealthCare Makes Key Organizational Changes, Promotes Brian Adams as part of Strategic Growth Plans

Effective immediately, Brian W. Adams will assume the role of Co-President of TRHC. He will retain the role of Chief Financial Officer (CFO) while a national search is conducted to identify his replacement. Adams has served as the company's CFO since 2014. In his new role, Adams will oversee strategy, sales and account management, professional affairs, IT and software engineering, administrative services, and finance. This shift will help unify critical interrelated functions within TRHC and enable Chief Executive Officer, Chairman, and Founder Calvin H. Knowlton, PhD, to focus more broadly on the fulfillment of TRHC's mission to become the leading medication safety company.

"In honing our organizational structure, we are better aligning our corporate strategy with our sales and product delivery efforts across our business units," said Calvin H. Knowlton. "These organizational enhancements are an important step in the evolution of our company. I am confident that Brian's demonstrated leadership and profound business expertise will help us return to our growth trajectory."

Adams brings deep experience in strategic planning and business performance optimization to his new role. He has successfully guided TRHC through public and private debt and equity financings and has engineered eleven strategic acquisitions during his time at the company.

"There is incredible potential that comes with more closely aligning integral functions within TRHC," said Adams. "The MedWise platform has been proven to reduce healthcare costs and improves clinical outcomes for patients in various settings of care. This alignment helps set the stage to seize future opportunities for MedWise, which I look forward to exploring."

Adams will continue to report directly to Calvin H. Knowlton. Founder and President Orsula V. Knowlton, PharmD, MBA; Chief Operations Officer Michael Greenhalgh, RPh; and Chief Scientific Officer Jacques Turgeon, BPharm, PhD, will also continue to report to the CEO as well.

As part of the organizational changes, Orsula V. Knowlton will take on responsibility for driving the company's diversity and inclusion efforts in addition to her work as Chief Marketing Officer and supporting the continued successful growth of TRHC's CareVention HealthCare in the PACE market.

About Tabula Rasa HealthCare
Tabula Rasa HealthCare (TRHC) (NASDAQ: TRHC) provides medication safety solutions that empower healthcare professionals and consumers to optimize medication regimens, combatting medication overload and reducing adverse drug events – the fourth leading cause of death in the US. TRHC's proprietary technology solutions, including MedWise®, improve patient outcomes, reduce hospitalizations, and lower healthcare costs. TRHC's extensive clinical tele-pharmacy network improves care for patients nationwide. Its solutions are trusted by health plans and pharmacies to help drive value-based care. For more information, visit TRHC.com.

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SOURCE Tabula Rasa HealthCare, Inc.

FAQ

What organizational changes did Tabula Rasa HealthCare announce in November 2021?

Tabula Rasa HealthCare announced the promotion of Brian W. Adams to Co-President while retaining his role as CFO to enhance strategic alignment and operational efficiency.

Who is the new Co-President of TRHC?

Brian W. Adams is the new Co-President of Tabula Rasa HealthCare, effective immediately.

What is the focus of the recent changes at Tabula Rasa HealthCare?

The recent changes focus on enhancing corporate structure and driving growth initiatives, particularly for MedWise solutions.

How long has Brian W. Adams been with Tabula Rasa HealthCare?

Brian W. Adams has served as CFO of Tabula Rasa HealthCare since 2014.

What strategic initiatives will Brian W. Adams oversee as Co-President?

As Co-President, Brian W. Adams will oversee strategy, sales, account management, and IT, among other critical functions.