What You Should Know:
– Transaction Data Systems (TDS), the leader in pharmacy software solutions has acquired PrescribeWellness from Tabula Rasa HealthCare in a deal worth up to $140M.
– Further, TDS’s plans to accelerate product innovation will create solutions to further optimize pharmacy workflows, support real-time clinical interventions and expand patient engagement opportunities to clients.
Acquisition Benefits for TDS
TDS connects community pharmacies through its solutions and services – the largest network in the U.S., available in all 50 states and Puerto Rico. TDS will add PrescribeWellness, to its industry-leading portfolio of clinical applications to support enhanced collaboration among pharmacists, providers, payers, and patients. PrescribeWellness has a complementary patient relationship management solution with a national footprint of community and chain pharmacies. PrescribeWellness presents a highly complementary patient relationship management solution with a national footprint of more than 15,000 community and chain pharmacies.
The companies also announced a strategic partnership to offer TRHC’s proprietary MedWise® Science, an accumulative, simultaneous, multi-drug analysis tool that identifies medication-related risk, into TDS’ pharmacy management systems upon the consummation of the transaction. This innovative technology-enabled medication optimization solution identifies the cause of medication-related problems, including adverse drug events, with the goal of improving patients’ health and well-being while reducing avoidable healthcare costs.
“At TDS, we are dedicated to providing pharmacists with the tools to address their critical and expanding role in delivering high quality patient care. Adding PrescribeWellness to our existing suite of industry-leading PMS and patient-centric solutions will enable our pharmacist customers to engage with patients, ensure access to the right therapies, drive medication adherence, improve outcomes, boost patient loyalty and generate incremental pharmacy revenue,” said Jude Dieterman, CEO of Transaction Data Systems. “This acquisition, our ongoing collaboration with MedWise and TRHC, and our commitment to innovation will secure our pharmacy customers’ position as primary providers in the evolving nexus of clinical care.”
The acquisition is anticipated to close, subject to customary closing conditions and the expiration or termination of regulatory periods, in the third quarter of 2022. Citigroup Global Markets, Inc. is acting as exclusive financial advisor to TRHC, and Morgan, Lewis & Bockius LLP is serving as legal advisor to TRHC. Keval Health is acting as financial advisor and Simpson Thatcher & Bartlett LLP is serving as legal advisor to Transaction Data Systems.