MOORESTOWN, N.J., Feb. 18, 2020 — Tabula Rasa HealthCare Corporation (NASDAQ: TRHC), a healthcare technology company advancing the field of medication safety, announced an agreement with a newly established Program for All-inclusive Care of the Elderly (PACE) in Jacksonville, Florida. Known as PACE Place, the program is sponsored by Community Hospice & Palliative Care®.
“We’re very excited to collaborate with TRHC for products and services that support high-quality care delivery,” said Executive Director of PACE Place, Mary Kiefert. “TRHC’s various services will help us better manage the care of our participants and ultimately improve quality of life for our seniors and their loved ones.”
TRHC’s CareVention HealthCare division will provide comprehensive medication management and pharmacy distribution services to PACE. Additionally, CareVention will provide electronic health record (EHR) and third-party administration (TPA) services, including regulatory compliance and financial management. CareVention provided technical assistance consulting for the past year as the organization developed its PACE program.
PACE Place is expected to begin serving participants in March of 2020.
“We are honored to have been chosen for our medication safety, EHR, and TPA services and pleased to be collaborating with PACE Place,” said TRHC President Orsula V. Knowlton, PharmD. “We look forward to working more closely with PACE Place as it prepares to welcome its first participants.”
Samira K. Beckwith, MSW, president of Florida PACE Providers and a member of TRHC’s Board of Directors, welcomed PACE Place to the growing group of PACE organizations providing much needed care to older adult residents in the state. “With the addition of PACE Place in the Jacksonville community, the State of Florida further expands access to quality healthcare for those who need nursing home care, but who prefer to remain in their own homes,” Beckwith explained. “We welcome PACE Place and wish it the best in pursuing its mission to serve the aging population in the Jacksonville area.”
PACE is a federal program providing comprehensive medical and social services to individuals 55 and older who are nursing-home eligible. The goal of PACE is to keep participants living in their own communities and to provide quality medical care. Currently, 131 PACE programs operate 263 PACE centers in 31 states, serving over 51,000 participants.
TRHC supports Florida PACE programs in Fort Myers, Miami, St. Petersburg, Tampa, and Palm Beach.
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 CareVention HealthCare
CareVention HealthCare offers comprehensive, integrated solutions and services for value-based care organizations at every stage of PACE (Programs of All-inclusive Care for the Elderly), from exploring PACE at the state and organizational levels, through start-up and ongoing operations. Integrated end-to-end services assure regulatory compliance, participant health and safety, efficient workflows and optimized financial management. Medication management and pharmacy distribution services are offered in conjunction with TRHC’s CareKinesis® division. For more information, visit PACEperfect.com.
About Community Hospice & Palliative Care
Established in 1979, Community Hospice & Palliative Care is an innovative national leader in palliative and hospice care, as well as providing programs and services to meet the diverse needs of the communities it serves. During its 40-year history, Community Hospice & Palliative Care has served nearly 200,000 adults and children in Baker, Clay, Duval, Nassau and St. Johns counties, and recently expanded its service area to include 11 counties in north-central Florida and now in Northeast Florida. Through the support of more than 950 employees and 1,000 volunteers, the organization helps approximately 1,500 patients per day to live better – at home. The organization is committed to improving the quality of life for patients and their families. For more information, visit communityhospice.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. 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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