ExactCare and Tabula Rasa to Combine, Creating a Leading, Independent Pharmacy Care Management Company for Patients with the Most Complex Needs
CLEVELAND (August 7, 2023) – ExactCare today announced that Tabula Rasa HealthCare, Inc.® (NASDAQ: TRHC), a leading healthcare company advancing personalized, comprehensive care for value-based care organizations, has entered into a definitive agreement to be acquired by Nautic Partners and combine with ExactCare, a portfolio company of Nautic.
The combination brings together two preeminent healthcare companies whose pioneering work integrating comprehensive pharmacy services into population health has improved outcomes and reduced total cost of care for people with complex needs allowing them to thrive in home and community-based settings.
“Tabula Rasa has deep expertise managing care for the most vulnerable patients in our healthcare system and driving meaningful clinical and financial outcomes for the payers and providers that care for those patients,” said John Figueroa, current Executive Chairman of ExactCare who will assume the role of Chairman and Chief Executive Officer of the combined company. “Combined with ExactCare’s comprehensive long-term pharmacy care services that have served hundreds of thousands of people across the country, we will be even better positioned to put patients first to improve their health and wellness.”
Tabula Rasa’s technology-enabled solutions that individualize care to reduce risk, optimize efficacy, and improve efficiency will help to make the combined companies’ products and solutions more readily extendable into larger adjacent markets. This includes beneficiaries served by the Program of All-Inclusive Care for the Elderly (PACE), Medicare and Medicaid.
“We see broad strategic alignment between Tabula Rasa and ExactCare,” said Marty Butler, President and Chief Financial Officer of ExactCare. “Our organizations provide unique but complementary solutions to address the healthcare challenges experienced by at-risk populations through innovative pharmacy and medication-related services. This partnership enables us to leverage each organization’s strengths to enhance the value we deliver to our patients and partners.”
“Over the past year, Tabula Rasa has focused on developing and expanding partnerships with risk-bearing healthcare organizations responsible for serving people with the most complex care needs,” said Brian Adams, President and Chief Executive Officer of Tabula Rasa. “This transaction leverages ExactCare’s extensive experience partnering with providers and payers across the healthcare continuum and brings us together with a company whose culture, values and focus on optimizing patient care are aligned with our mission at Tabula Rasa. We look forward to bringing our teams and solutions together to expand how we partner with payers and providers to improve patient care.”
