Tabula Rasa HealthCare (TRHC) is a leader in providing patient-specific, data-driven technology and solutions that enable healthcare organizations to optimize medication regimens to improve patient outcomes, reduce hospitalizations, lower healthcare costs and manage risk. TRHC provides solutions for a range of payers, providers and other healthcare organizations.
TRHC announced that it will be acquiring PrescribeWellness. It is reported that TRHC will be paying $150 million for the company, which itself acquired the pharmacy technology assets of VoicePort last year. PrescribeWellness has roughly 150 employees and generated revenue of $29 million in 2018.
TRHC said the purchase will allow his company to expand its medication risk mitigation programs to thousands of community pharmacies. The acquisition will allow TRHC to imbed its Medwise platform — designed to predict and curtail potential adverse drug reactions by patients — into PrescribeWellness’s software.
The deal also allows TRHC to further participate in Medicare and Medicaid medication therapy management programs. Prior to the deal, TRHC’s Medwise platform was being used by 400 pharmacists at 300 pharmacies through the company’ participation in the Center for Medicare and Medicaid Innovation’s Enhanced Medication Therapy Management Model Test program.
SinfoníaRx, a TRHC Company, is an industry leading provider of Medication Therapy Management (MTM) services. SinfoníaRx was founded to optimize medication use and improve the health of patients with chronic illness through its innovative Medication Therapy Management (MTM) Programs.
SinfoníaRx’s highly customizable MTM programs support patients through relationships with health plans, pharmacy benefit managers, community pharmacies, providers and patients. Since inception, SinfoníaRx has generated over $1 billion in total healthcare savings and now serves 50 million patients nationwide.