Moorestown, NJ, December 5, 2019 – Tabula Rasa HealthCare®, Inc. (TRHC) (NASDAQ: TRHC), a healthcare technology company advancing the field of medication safety, announces a partnership with Hudson Headwaters Health Network, a Queensbury, NY-based nonprofit that operates 19 health centers in northern New York state. Beginning in January 2020, Hudson Headwaters pharmacists will license the MedWise™ technology to identify patients at high risk for medication-related problems and complete Medication Safety Reviews.
“TRHC’s partnership with Hudson Headwaters represents the value TRHC’s MedWise technology can provide a program with a primary focus of improving the health of an underserved population,” said TRHC Chairman and CEO, Calvin H. Knowlton, Ph.D. “Furthermore, the Federally Qualified Health Center (FQHC) market represents a large new market and opportunity to help millions of patients at risk for preventable hospitalizations and physician visits.”
Currently, there are more than 1,000 FQHCs across the United States, serving 28 million patients, regardless of their ability to pay. According to the Health Resources and Services Administration, FQHC’s serve 1 in 12 people across the country.
“Hudson Headwaters Health Network is excited to implement this technology to help identify and reduce patient risk regarding prescription and over-the-counter medications. The software application will allow our pharmacists to identify high-risk patients by reviewing their medications and assigning a score based on potential interactions or side effects. If a risk is identified, providers and pharmacists can work together to make changes,” states Hudson Headwaters, Director of Population Health Programs and Quality, Kate Shmulsky, Pharm.D. “The software works with the Hudson Headwaters electronic medical record so that providers can access this information as they meet with each patient. We anticipate that this will improve health outcomes for our patients, lower the risk of preventable adverse drug events, and reduce total healthcare costs.”
About Tabula Rasa HealthCare
Tabula Rasa HealthCare (TRHC) is a leader in providing patient-specific, data-driven technology and solutions that enable healthcare organizations to optimize performance to improve patient outcomes, reduce hospitalizations, lower healthcare costs, and manage risk. Medication risk management is TRHC’s lead offering, and its cloud-based software applications, including EireneRx® and MedWise™, provide solutions for a range of payers, providers, and other healthcare organizations. For more information, please visit, tabularasahealthcare.com
About Hudson Headwaters Health Network
A nonprofit, community-based network of 19 health centers, Hudson Headwaters Health Network, has served the Glens Falls, Lake George and Adirondack regions since 1981 and northern Clinton County since 2012. Its comprehensive services include primary care and urgent care, pediatrics, women’s health, behavioral health, dentistry, and a variety of other specialties, and labs and imaging. For more information, visit www.hhhn.org.
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.
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Bob East or Asher Dewhurst
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