Tabula Rasa HealthCare, Inc.® (NASDAQ: TRHC), a leading healthcare company advancing personalized, comprehensive care for value-based organizations, today announced that its stockholders approved the previously announced acquisition by Nautic Partners, following which TRHC is expected to combine with ExactCare Pharmacy, a portfolio company of Nautic. The proposal to adopt the merger agreement was approved at a virtual special meeting of the Company’s stockholders held today with approximately 99.6% of the votes cast in favor of the proposal, which represented approximately 70.9% of the outstanding shares of Company common stock.
“We are happy to have the strong support of Tabula Rasa’s stockholders who recognize the value of bringing us together with Nautic’s ExactCare portfolio company to advance our ability to partner with risk-bearing healthcare organizations serving those with complex care needs,” said Brian Adams, President and CEO of TRHC. “This combination will extend our reach and position us to take advantage of existing and emerging opportunities within and adjacent to our core PACE market.”
The Company expects to complete the transaction during the fourth quarter of 2023, subject to customary closing conditions. Upon closing, Tabula Rasa will become a privately held company and shares of TRHC common stock will no longer be listed on the Nasdaq stock exchange.
About Tabula Rasa HealthCare
Tabula Rasa HealthCare (TRHC) (NASDAQ: TRHC) enables simplified and individualized care that improves the health of those we serve. We offer comprehensive pharmacy services that include personalized, precision medication management and delivery as well as a suite of clinical and business management tools that help health plans and at-risk provider groups maximize revenue, optimize utilization and improve patient health. For more information, visit tabularasahealthcare.com.
ExactCare, a national medication management and pharmacy care provider, delivers solutions to help people with complex, chronic medical needs overcome medication-related and chronic care challenges. Founded in 2009, the company enables better health for patients and better clinical, quality and economic outcomes for the healthcare organizations that care for them—including payers, home health organizations, primary care practices and other providers. ExactCare provides comprehensive long-term pharmacy care to patients in assisted and independent living facilities, through transitions of care, and in their homes—with a focus on improving patient adherence to prescribed medications and enabling safer, more effective medication regimens. ExactCare also provides a number of value-based solutions, including HEDIS Gap Closure Assistance and Medication Therapy Management (MTM) Programs. For more information, visit exactcare.com.
About Nautic Partners
Nautic Partners is a Providence, Rhode Island-based middle-market private equity firm that focuses our expertise and market knowledge on three sectors: Healthcare, Industrials and Services. Nautic has completed 155 platform transactions throughout our 37-year history. In pursing our thematic and proactive investment strategy, we seek to partner with executives and management teams in an effort to accelerate the growth trajectory of our portfolio companies via acquisitions, targeted operating initiatives, and increased management team depth. For more information, please visit www.nautic.com.