Tabula Rasa Heal Stock Price, News & Analysis

Tabula Rasa HealthCare (TRHC) reported preliminary revenue for Q2 2022 between $72 million and $73 million, surpassing previous guidance of $66 million to $69 million. This strong performance reaffirms the company's strategy as it focuses on its core business while divesting non-core assets. CEO Calvin H. Knowlton emphasized ongoing demand for TRHC's solutions, which aim to improve medication safety and reduce adverse drug events. The company plans to release full results in early August.

Indaba Capital Management, the largest shareholder of Tabula Rasa HealthCare (TRHC), with a 19.99% ownership stake, has issued an open letter demanding significant management changes. The letter urges the board to remove CEO and Chairman Calvin H. Knowlton, Executive Director Dr. Orsula V. Knowlton, and Lead Independent Director A. Gordon Tunstall due to conflicts of interest and sustained value destruction since the company’s IPO in 2016. Indaba highlights issues including cronyism, poor governance practices, and a substantial decline in stock value, which has fallen approximately 80% since its IPO.

Tabula Rasa HealthCare (TRHC) announced the sale of its PrescribeWellness business to Transaction Data Systems (TDS), a leader in pharmacy-focused solutions, on June 21, 2022. This strategic move aims to enhance TRHC's stockholder value while expanding TDS's offerings with PrescribeWellness's patient management solutions, used by over 15,000 pharmacies. Additionally, a multi-year partnership will integrate TRHC's MedWise Science technology into TDS's systems to optimize medication management. The transaction is expected to close in Q3 2022, pending regulatory approvals.

Tabula Rasa HealthCare (TRHC) is hosting the 2022 CareVention HealthCare Advisory Summit on June 22-23 in Phoenix, AZ, attracting nearly 40 PACE executives, doubling participation from 2021. The summit focuses on the growth of PACE programs, projected to increase by over 25% in coming years. With sessions on operational efficiencies and pharmacogenomics, TRHC aims to facilitate collaboration among PACE leaders. This event underscores TRHC's commitment to supporting PACE organizations and enhancing medication safety solutions through its innovative technology.

Tabula Rasa HealthCare (TRHC) reported $67.1 million in Q1 2022 revenue from continuing operations, a 14% increase from last year. CareVention HealthCare contributed $66.3 million, up 19%. However, the company faced a GAAP net loss of $20.4 million, exacerbated by a $4.1 million asset impairment charge. Adjusted EBITDA decreased to $2.5 million. TRHC plans to divest non-core assets including PrescribeWellness, SinfoníaRx, and DoseMe to enhance liquidity and reduce net debt. The company aims to capitalize on its strong PACE market position while improving its balance sheet.

Tabula Rasa HealthCare (NASDAQ:TRHC) has announced a conference call on May 6, 2022, at 8:30 a.m. EDT to discuss its first quarter 2022 operating results. The financial results for the quarter ending March 31, 2022 will be released after the market closes on May 5, 2022. The call will feature key executives, including CEO Calvin H. Knowlton, Ph.D. Interested parties can access the call via phone or through a live audio webcast available on the company’s Investor Relations website.

Tabula Rasa HealthCare (TRHC) announced a five-year renewal with Gary and Mary West PACE in North County San Diego, reinforcing its commitment to provide medication safety and pharmacy solutions. Since 2018, TRHC has supported this PACE program, which serves over 180 elderly participants. The renewal showcases TRHC's 100% client retention in California and highlights the effectiveness of their CareKinesis and Pharmastar services. Their innovative MedWise technology aims to enhance patient safety and reduce healthcare costs, aligning with TRHC's broader mission to improve healthcare outcomes.

New research from Tabula Rasa HealthCare (TRHC) published in Healthcare shows significant cost savings for PACE participants using CareKinesis Pharmacy services. Participants saved an average of $5,024 annually in medical expenses related to multi-drug interactions. The study analyzed over 2,500 participants from 19 PACE organizations, revealing that approximately $3,807 of the savings stemmed from reduced emergency visits. TRHC asserts that its MedWise Science technology plays a crucial role in identifying and mitigating medication risks, promoting better health outcomes.

Tabula Rasa HealthCare, Inc. (TRHC) announced its fourth quarter and full year 2021 financial results, showing an increase of 11% in total revenue year-over-year to $85.7 million. Despite this growth, the GAAP net loss was $21.4 million, down from $30.6 million the previous year. Key initiatives include outsourcing IT to Accenture and a new CFO appointment. TRHC expects to generate positive free cash flow in Q3 2022 and has introduced guidance for 2022, projecting revenue growth of 10-14%.