Tabula Rasa HealthCare on Tuesday said its stockholders approved the previously announced acquisition by Nautic Partners.
The proposal to adopt the merger agreement was approved at a virtual special meeting of the Moorestown-based company’s stockholders held Tuesday, 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.
As a result of the approval, the company will combine with ExactCare Pharmacy, a portfolio company of Nautic.
“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 health care organizations serving those with complex care needs,” Brian Adams, CEO and president of TRHC, said. “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, and upon closing, it will become privately held.
