Transaction Data Systems Announces Closing of Merger with Outcomes™
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Transaction Data Systems’ merger with Outcomes will expand clinical opportunities for patient engagement to its combined nationwide pharmacy network of 48,000 pharmacy locations.
The company will assume the name Outcomes and fully rebrand by end of year. Jude Dieterman, Chief Executive Officer of TDS, will remain CEO of the combined organization. Brent Stutz, Outcomes’ general manager, will become President of the combined company. As part of the transaction, Cardinal Health will hold a minority stake in the company, and Cardinal Health’s Chief Executive Officer of its pharmaceutical segment, Debbie Weitzman, will join the company’s board of directors.
“TDS and Outcomes have been dedicated to improving the health of communities through pharmacy excellence for over a combined 45 years,” said Dieterman. “Together, we now have the ability to extend unique value-added solutions through our newly combined network and establish our reach as the largest provider in the pharmacy market bridging care connections with payers and pharma to improve health outcomes.”
The merger with Outcomes creates a broad, integrated offering of pharmacy workflow software serving the patient, pharmacy, payer and pharmaceutical company ecosystem. TDS’ existing portfolio of clinical pharmacy solutions, which includes such products as the Rx30 and Computer-Rx pharmacy management systems and PrescribeWellness, will complement Outcomes’ digital capabilities for medication therapy management, patient engagement, and financial insights. The combined company’s integrated capabilities will provide greater operational and workflow efficiency for pharmacy delivered care to its combined nationwide network of 48,000 retail, chain and grocery pharmacy locations.
“Both TDS and Outcomes have been centered on enhancing the pharmacy’s delivery of clinical care and enabling diversified revenue streams,” said Weitzman. “This is an exciting day for pharmacists looking to operate at the top of their license as trusted community healthcare providers.”
“Our mission is grounded in the power of pharmacy to improve patient care outcomes,” said Stutz, “Today’s closing will position Outcomes for further growth to continue to deliver on the patient experience by expanding our pharmacy footprint and providing richer opportunities to scale our payer and pharma connections.”
Simpson Thacher & Bartlett LLP served as legal adviser to TDS, while SVB Securities acted as financial adviser. Jones Day served as legal adviser to Cardinal Health.
About Transaction Data Systems
For over 45 years, TDS has been dedicated to the success of the pharmacy market and pharmacy supply chain. With its portfolio of products and services including Rx30, Computer-Rx, and PrescribeWellness, TDS provides innovative patient-centric technology solutions and pharmacy management systems to the pharmacy industry. We proudly support one of the largest install base of independent pharmacies in the industry with systems in all 50 states and the
About Outcomes
Outcomes™ drives better health outcomes by uniting technology and clinical relationships through a connected healthcare network. Outcomes brings together pharmacies, payers, and pharmaceutical manufacturers to collectively reduce the total cost of care, drive positive patient behavior change and streamline workflows for pharmacy.
For more information visit www.getoutcomes.com.
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Founded in 1980, GTCR is a leading private equity firm that pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through organic growth and strategic acquisitions. GTCR is focused on investing in transformative growth in companies in the Business & Consumer Services, Financial Services & Technology, Healthcare and Technology, Media & Telecommunications sectors. Since its inception, GTCR has invested more than
About Cardinal Health
Cardinal Health is a distributor of pharmaceuticals, a global manufacturer and distributor of medical and laboratory products, and a provider of performance and data solutions for health care facilities. With more than 50 years in business, operations in 30 countries and approximately 46,500 employees globally, Cardinal Health is essential to care. Information about Cardinal Health is available at cardinalhealth.com.
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Transaction Data Systems/Outcomes:
Tycene Fritcher
tfritcher@tdsclinical.com
813-786-1136
BlackRock:
Christopher Beattie
Christopher.beattie@blackrock.com
646-231-8518
GTCR:
Andrew Johnson
andrew.johnson@gtcr.com
212.835.7042
Cardinal Media:
Erich Timmerman
erich.timmerman@cardinalhealth.com
614.757.8231
Cardinal Investor Relations
Kevin Moran
kevin.moran@cardinalhealth.com,
614.757.7942
Source: Transaction Data Systems
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