Tabula Rasa Healthcare to Sell DoseMeRx

Rhea-AI Summary

On February 9, 2022, Tabula Rasa HealthCare (TRHC) announced a non-binding Letter of Intent to sell its DoseMeRx solution. This decision aligns with the company's strategy to focus on core assets and enhance shareholder value. According to CEO Calvin H. Knowlton, the move is intended to sharpen TRHC's focus on its primary mission while unlocking value in non-core assets. DosMeRx provides advanced precision dosing tools to improve patient outcomes in medication management.

Positive

• Signing a non-binding Letter of Intent to sell DoseMeRx may unlock value in non-core assets.
• The divestiture allows TRHC to focus on core operations and improve growth potential.

Negative

• None.

MOORESTOWN, N.J., Feb. 9, 2022 /PRNewswire/ -- Tabula Rasa HealthCare, Inc.® (TRHC) (NASDAQ: TRHC), a leading healthcare technology company advancing the safe use of medications, announced today that it has signed a non-binding Letter of Intent to sell its DoseMeRx solution.

"At our last earnings call, we noted that we were evaluating options to unlock value in non-core assets. This strategic divestiture underscores TRHC's commitment to sharpening our focus on our core mission, better positioning the company for growth and increased shareholder value," said TRHC Chairman and CEO, Calvin H. Knowlton, PhD. "Our search for the right partner to help further advance DoseMe's innovative solutions has been extensive, and we are encouraged by the interest and enthusiasm in the market for this excellent business and technology."

DoseMeRx is an advanced precision dosing tool to help physicians and pharmacists accurately dose patients' high-risk medications based on individual needs, reducing risk, and improving patient outcomes.

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.

Forward-Looking Statements

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 "anticipates," "believes," "estimates," "expects," "intends," "plans," "predicts," "projects," "should," and similar expressions. These forward-looking statements are based on management's good-faith expectations, judgements, and assumptions as of the date of this Report. Actual results might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: the impacts of the ongoing COVID-19 pandemic and other health epidemics; fluctuations in the Company's financial results; the acceptance and use of the Company's products and services by PACE organizations; the need to innovate and provide useful products and services; risks related to changing healthcare and other applicable governmental regulations; the Company's ability to maintain relationships with a specified drug wholesaler; increasing consolidation in the healthcare industry; managing the Company's growth effectively; the Company's ability to adequately protect its intellectual property; the requirements of being a public company; the Company's ability to recognize the expected benefits from acquisitions on a timely basis or at all; and the other risk factors set forth from time to time in the Company's filings with the Securities and Exchange Commission ("SEC"), including those factors discussed under the caption "Risk Factors" in its most recent annual report on Annual Report on Form 10-K, filed with the SEC on February 26, 2021, and in subsequent reports filed with or furnished to the SEC. The Company assumes no obligation and does not intend to update these forward-looking statements, except as required by law, to reflect events or circumstances occurring after today's date.

 

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SOURCE Tabula Rasa HealthCare, Inc.

FAQ

What is the recent announcement by Tabula Rasa HealthCare (TRHC) regarding DoseMeRx?

Tabula Rasa HealthCare announced on February 9, 2022, that it has signed a non-binding Letter of Intent to sell its DoseMeRx solution.

Why is TRHC selling its DoseMeRx solution?

The sale is part of TRHC's strategy to focus on core assets and enhance shareholder value by unlocking value in non-core operations.

What does the DoseMeRx solution do?

DoseMeRx is an advanced precision dosing tool designed to help healthcare providers accurately dose high-risk medications based on individual patient needs.

Who is the CEO of Tabula Rasa HealthCare?

The CEO of Tabula Rasa HealthCare is Calvin H. Knowlton.

What are Tabula Rasa HealthCare's main business focuses?

Tabula Rasa HealthCare focuses on medication safety solutions, including advanced technology to optimize medication regimens and reduce adverse drug events.