Moorestown, NJ, September 9, 2020 – Tabula Rasa HealthCare® Corporation (NASDAQ: TRHC), a healthcare technology company advancing the field of medication safety, announced today three new accomplished technology leaders with decades of healthcare experience have joined its executive ranks since the start of 2020.
“Given our strong organic revenue growth and M&A activity in recent years, which have significantly expanded our market and end-user reach, it is important for us to continue to assemble an experienced and accomplished leadership team that will develop the next technology-enabled products and services for medication risk management and organizational performance optimization,” said TRHC President and Chief Marketing and New Business Development Officer Orsula V. Knowlton, PharmD. “We welcome these new executives who will help TRHC deliver on our ambitious future growth initiatives.”
Bob (Sully) Sullivan, MS, is TRHC’s first Chief Technology Officer (CTO). He leads the transformation of the Product Engineering teams to efficiently build and support TRHC’s proprietary applications and data solutions. Mr. Sullivan joins TRHC from Corsis, where he was responsible for performing IT due diligence on behalf of organizations investing in or acquiring hundreds of technology companies representing billions of dollars. Prior to Corsis, Mr. Sullivan acted as CTO and leadership roles at Pfizer, Johnson & Johnson, Emdeon (now Change Healthcare), and inVentiv Health.
Jeffrey J. DiFrancesco, M.Eng., M.Sci., SSMBB, is named Chief Product Officer. With over thirty-five years of technology, healthcare, and life science experience commercializing novel and disruptive technologies such as MedWise™, Mr. DiFrancesco’s responsibilities include portfolio strategy and execution of TRHC’s software and advanced analytics products. In previous executive positions, he has commercialized novel healthcare analytics, medical device, and therapeutics products. His previous experiences include Merck & Co., Novartis, Pfizer, National Science Foundation, and GlaxoSmithKline.
Steve Lemak, MS serves as TRHC’s Senior Vice President, IT Infrastructure, CareVention HealthCare Division. In this role, Mr. Lemak leads the planning and implementation of enterprise information systems to support both distributed and centralized clinical and business operations, and achieve more effective and cost beneficial enterprise-wide IT operations. Prior to TRHC, he had been CIO of Enclara Pharmacia, a hospice medication management and pharmacy, now owned by Humana. Mr. Lemak brings 25 years of technology experience in the health care industry and academic instruction to TRHC.
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 2, 2020, 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 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.