New division will integrate TRHC’s offerings into one comprehensive suite of technology solutions and consulting services for healthcare organizations
MOORESTOWN, N.J., Oct. 22, 2018 — Tabula Rasa HealthCare, Inc. (TRHC) (NASDAQ: TRHC), a healthcare technology company advancing the field of medication safety, today announced the launch of CareVention HealthCare, a comprehensive technology and consulting services division. CareVention, which represents the idea of care innovation and intervention to optimize health outcomes, aims to improve the integration of TRHC’s subsidiary brands and industry-proven technology products for an enhanced client experience.
“We see an opportunity to deliver a more robust portfolio of innovative technology solutions and consulting services to clients,” said TRHC Chairman and CEO, Calvin H. Knowlton, Ph.D. “CareVention HealthCare will allow our brands to work more efficiently, so we can focus on the business of helping healthcare organizations continue to have meaningful impacts on patients for all types of healthcare clients including the Program of All-inclusive Care for the Elderly (PACE).”
Within the CareVention HealthCare brand are two units: Technology Solutions and Consulting Services. CareVention Technology includes TRHC’s software programming solutions, along with TRHC’s signature Medication Risk Mitigation Matrix™ (MRM), which identifies patients’ risk for multi-drug interactions before they occur, helping physicians make safer prescribing choices and take a more personalized approach. CareVention Consulting offers services to financially at-risk healthcare organizations to support growth and optimize the care they provide to their participants. CareVention Consulting is offered through TRHC subsidiaries SinfoniaRx and Capstone Performance Systems.
The launch of CareVention HealthCare is part of TRHC’s overarching plan to more strategically align its subsidiary brands and technologies for the benefit of its clients and to position itself for new value-based care collaborations. In addition to PACE, CareVention HealthCare will provide solutions for payers, providers and other healthcare organizations. Together, CareVention HealthCare and CareKinesis, TRHC’s pharmacy products and services division, will serve as the company’s two brand divisions.
About Tabula Rasa HealthCare
TRHC (NASDAQ:TRHC) is a leader in providing patient-specific, data-driven technology and solutions that enable healthcare organizations to optimize patient outcomes, lower healthcare costs, and improve organizational performance. TRHC provides solutions for a range of payers, providers and other healthcare organizations. For more information, visit TRHC.com.
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.