MOORESTOWN, N.J. and Fort Worth, TX, July, 9 2019—Tabula Rasa HealthCare, Inc. (“TRHC”) (NASDAQ: TRHC), a leading provider of technology-enabled solutions to mitigate medication risk, reduce medical costs, and optimize client performance, today announced it has signed two agreements to collaborate with CQuentia. CQuentia is a comprehensive analytics platform for personalized medicine, integrating genetic test results with scientific and clinical action. The collaboration will bring a robust suite of cutting-edge pharmacogenomics services and biometric wearable products to patients and providers.
“CQuentia has selected TRHC’s MedWise™ as its preferred method for delivering pharmacogenomics (PGx) lab results back to ordering physicians,” said CQuentia CEO Alan Meeker. “Unlike traditional drug-gene pair analysis, which marginalizes the potential impact of PGx, MedWise uses PGx data to inform precision across a patient’s entire medication regimen. CQuentia has determined that TRHC’s unique and valuable approach to incorporating PGx lab data into medication safety analysis makes TRHC the ideal partner to present PGx lab results to its clients.”
TRHC is establishing Application Programming Interfaces “APIs” with CQuentia to receive PGx data directly from CQuentia’s Memphis lab. Thereafter, CQuentia will encourage its clients to license MedWise as a seamless way of making the most of their PGx testing. In addition, under this agreement, TRHC has contracted to secure two proprietary PGx lab panel assays from CQuentia, one for TRHC’s clinical work with patients and one to support the continued research and development of TRHC’s proprietary MRM sciences at its Lake Nona, Florida R&D center.
“After extensive research and analysis, TRHC determined that CQuentia’s PGx laboratory capabilities far exceed other leading labs in the market,” stated TRHC Chairman and CEO Calvin H. Knowlton, PhD. “CQuentia’s is now TRHC’s preferred PGx Lab partner. We are excited to support patients who have had their PGx data provided by CQuentia, and are interested in optimizing their medication regimens. Through the use of our MedWise Medication Risk Mitigation technology and MedWise Advisor® certified pharmacists, patients can experience precision pharmacotherapy to optimize their medication regimens and assure their safety. Finally, the collaboration provides access for TRHC clients to leverage CQuentia’s biometric wearable products which help inform and further overall medication safety.”
CQuentia Holdings, LLC (CQuentia) Precision Medicine Platform and Services. The most advanced and comprehensive example of a medical-grade, precision medicine platform in the world today has been assembled and is available through CQuentia. Utilizing illumina® NGS technology and CQuentia IP, CQuentia offers a state-of-the-art CLIA-certified medical grade clinical genomics testing lab that is second to none in the country. Clinical decision support (CDS) based on genomic data alone is directional and limiting in nature – CQuentia incorporates data capture using the most advanced low-cost medical-grade wearable.
This press release includes forward-looking statements that we believe to be reasonable as of today’s date. Such statements are identified by use of the words “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “should,” and similar expressions. These forward-looking statements are based on management’s expectations and assumptions as of the date of this press release. These forward-looking statements include, among other things, our goals and expectations regarding the combined company and the integration of PW into TRHC, the expected synergies from the combined company and the expected financial and operating performance of TRHC following the completion of the acquisition. Actual results might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: the risk that we may not be able to achieve our expectations for the combined companies due to challenges in integration and inability to retain key employees; fluctuations in our financial results; the acceptance and use of our products and services by PACE organizations and pharmacies; the need to innovate and provide useful products and services; risks related to changing healthcare and other applicable regulations; our ability to maintain relationships with a specified drug wholesaler; increasing consolidation in the healthcare industry; managing our growth effectively; our ability to adequately protect our intellectual property; the requirements of being a public company; our ability to recognize the expected benefits from acquisitions on a timely basis or at all; and the other risk factors set forth from time to time in our filings with the Securities and Exchange Commission (“SEC”), including those factors discussed under the caption “Risk Factors” in our most recent annual report on Form 10-K, filed with the SEC on March 1, 2019, and in subsequent reports filed with or furnished to the SEC, copies of which are available free of charge within the Investor Relations section of the TRHC website http://ir.trhc.com or upon request from our Investor Relations Department. TRHC assumes no obligation and does not intend to update these forward-looking statements, except as required by law, to reflect events or circumstances occurring after today’s date.