By OPEN MINDS Circle
Tabula Rasa has agreed to be acquired by ExactCare Pharmacy, a portfolio company of Nautic Partners, for $570 million. The deal, expected to close during the fourth quarter of 2023, will combine the two companies to create an independent pharmacy care management company that serves consumers with chronic health conditions. Tabula Rasa provides personalized, comprehensive care for value-based care organizations. The combination will expand the reach of Tabula Rasa’s MedWise technology platform to multiple provider organization and payer markets.
Following the closing of the transaction, Tabula Rasa will become a privately held company wholly owned by an affiliate of ExactCare. John Figueroa, ExactCare’s current Executive Chairman, will assume the role of Chairman and CEO of the combined company. Tabula Rasa will continue operations in all of its locations, including Moorestown, New Jersey, and Brian Adams, Tabula Rasa’s current President and Chief Executive Officer, will assume the role of President of the combined company.
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. Additionally, 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.
Tabula Rasa HealthCare enables simplified and individualized care that improves the health of those we serve. It offers 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 optimize utilization and improve patient health.
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.
Nautic Partners is a Providence, Rhode Island-based middle-market private equity firm that focuses on three sectors: Healthcare, Industrials and Services. Nautic has completed 155 platform transactions throughout its 37-year history.
Contact Information: Tabula Rasa Healthcare, 228 Strawbridge Drive, Moorestown, New Jersey 08057; 866-648-2767; Website: https://www.tabularasahealthcare.com/