MOORESTOWN, N.J., March 20, 2018 — Tabula Rasa HealthCare, Inc. (“TRHC”) (NASDAQ:TRHC), a healthcare technology company optimizing medication safety by deploying new medication risk mitigation digital software solutions and novel, proprietary medication decision support tools, today announced that it has entered into an agreement with a national provider group to deliver Medication Risk Mitigation (“MRM”) technology and services that will enable a more personalized approach to prescribing for their patients medication regimen, involving personalizing medication selection, dosage levels, time-of-day administration and reducing the total medication burden by eliminating unnecessary prescriptions.
Avoidable adverse drug events caused by dangerous drug interactions and the imprecise use of prescriptions are the fourth leading cause of death in the U.S. TRHC’s MRM technology identifies patients’ risk for multi-drug interactions before they occur, helping physicians make safer prescribing choices, including the best time of day for patients to take each medicine to avoid potential harm.
TRHC will offer the provider group MRM services that include a Medication Safety Review—that utilizes TRHC’s proprietary MedWise Advisor® platform which analyzes simultaneous, accumulative, multi-drug interactions. It also includes the option for pharmacogenomics analysis which allows prescribers to understand how a patient’s genes affect their response to medications.
“This marks the first time that our MRM services will be offered directly to private-practice physicians, giving them access to the only technology that can quickly identify multi-drug risk,” said Calvin Knowlton, PhD, CEO and Founder of Tabula Rasa Healthcare. “Our technology enables physicians to conduct a thorough review of a patient’s medication regimen and easily make adjustments to optimize health and safety, and enhance care.”
TRHC works with major health plans, providers and PACE (Programs of All-Inclusive Care for the Elderly) throughout the country and was named by Rock Health as the best performing IPO among digital health companies in 2017.
This press release includes forward-looking statements that we believe to be reasonable as of today’s date, including statements regarding Medication Risk Mitigation technology and services to be provided under the new agreement as well as the release of TRHC’s consumer-facing smart phone app. 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.