Moorestown-based Tabula Rasa HealthCare on Tuesday said it is selling its PrescribeWellness business to Transaction Data Systems.
PrescribeWellness is a complementary patient relationship management solution with a national footprint of more than 15,000 community and chain pharmacies.
TDS will add PrescribeWellness to its portfolio of clinical applications to support enhanced collaboration among pharmacists, providers, payers and patients.
The companies also announced a strategic partnership to offer TRHC’s proprietary MedWise Science, an accumulative, simultaneous, multidrug analysis tool that identifies medication-related risk, into TDS’ pharmacy management systems upon the consummation of the transaction.
“Today’s announcement is a significant, strategic step forward in unlocking stockholder value, while extending the reach of our MedWise Science through TDS’ strong network,” TRHC Chairman and CEO Calvin Knowlton stated. “We embarked on a robust search for the right organization to best serve our customers and employees and believe that we have found an excellent partner to advance the future of pharmacy by leveraging these technologies. We anticipate that this divestiture, coupled with our strategic partnership, will position TRHC for accelerated growth and increased stockholder value.”
The transaction is expected to close in the third quarter of 2022.
