Moorestown, N.J., and Markham, Ontario, February 21, 2019–Tabula Rasa HealthCare, Inc. (“TRHC”) (NASDAQ:TRHC), a healthcare technology company advancing the field of medication safety, and Canada based Remedy Holdings, Inc. (RHI), a company with a specialty pharmacy network across Canada, today announced an agreement that brings TRHC’s Medication Therapy Management (MTM) technology to Canadian citizens. RHI, under its innovation division HumanisRx, will license RxCompanionTM, TRHC’s MTM technology, as a service offering.
“Medication safety and management of chronic illness are international problems. We are excited to work with HumanisRx to bring our proprietary MTM methods to Canada through the use of RxCompanion,” said TRHC Chairman and CEO Calvin H. Knowlton, PhD. “RxCompanion is one of a suite of technology offerings by TRHC designed to optimize medication treatment. We plan to continue to expand the footprint of the use of our MTM and Medication Risk Mitigation technologies in the US and internationally.
The RxCompanion software supports Medication Management services provided by pharmacists employed by HumanisRx. “RxCompanion is a critical piece of our strategy to introduce innovative medication management initiatives to Canada,” said Jeff May, RPh, President of HumanisRx. “The US experience with this technology has proven that it will enable us to identify patients at risk for medication-related problems in a highly scalable way for the market in Canada.” HumanisRx programs help patients optimize their medications and reduce or prevent adverse drug events through a powerful combination of RxCompanion technology and personalized pharmacist counseling. Improved medication use resulting from these programs will positively impact health outcomes and reduce costs of sub-optimal medication use currently borne by individuals, employers, insurers and governments.
In the United States, RxCompanion software is used to support pharmacist-driven MTM services for millions of Medicare, Medicaid, and commercial insurance members. The technology is used by thousands of pharmacists to provide medication management for patients with complex and chronic illness. Using healthcare data from clients, including health plans, their pharmacy benefit managers, and community pharmacies, RxCompanion software identifies patients at risk for medication-related problems. Pharmacists collaborate to resolve problems identified through direct contact with patients and prescribers.
About Remedy Holdings Inc. (RHI)
RHI is a privately held organization devoted to ensuring Canadians get the best results from their medication while avoiding medication risks. RHI provides pharmacy services in a variety of care settings, such as long term care, retirement, assisted living and mental health/group homes, and in the community. RHI established a new innovation division, HumanisRx with a mandate to bring to the Canadian market new technologies and programs focused on medication optimization, risk reduction, improved health outcomes and reduced health care costs. For information: HumanisRx.ca.
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. 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 need to innovate and provide useful products and services; risks related to changing healthcare and other applicable regulations; increasing consolidation in the healthcare industry; managing our growth effectively; our ability to adequately protect our intellectual property; and the other risk factors set forth from time to time in our filings with the 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 14, 2018, 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. Any forward-looking statement speaks only as of the date on which it was made. 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.