World News – GB – Tabula Rasa HealthCare (TRHC) announces the acquisition of Personica

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Tabula Rasa HealthCare, Inc (Â ???? TRHCÂ ????) (NASDAQ: TRHC), a healthcare technology company advancing the field of drug safety, announced today the acquisition of Personica, LLC and its subsidiaries PersonifilRx, Pharmastar and PersonifilRx New England (collectively, â € œPersonicaâ €), a provider of pharmaceutical services, including 340B administration solutions and Medicare Part D for All Inclusive Care Programs for the Elderly (â ???? PACEâ ????)

For many years, we have worked closely with the Personica team to meet the pharmaceutical needs of our PACE customers, and we have long admired the highly respected company their team has built, â ??? ? said TRHC President and CEO Calvin H Knowlton, PhD This addition to our CareVention HealthCare business unit increases our pharmaceutical footprint and advances our pharmacy offering to serve the 340B entities, which represent some of the largest PACE programs. , this strengthens our ability to sell highly complementary solutionsâ ????

The Centers for Medicare & Medicaid Services (« CMS ») requirements to implement a Part D plan, which apply to all PACE programs, continue to grow in complexity To meet the CMS administrative needs of PACE programs , Personica has developed a comprehensive platform to reduce this burden, which has fueled the growth of Personica Currently, more than 32,000 PACE participants, or approximately 60% of the total PACE population, receive Personica services Less than 20% of Current Personica customers are served by TRHC’s CareKinesis pharmacy operations and new MedWise drug safety solutions

In addition to extensive compliance requirements, CMS annually conducts financial audits on at least one-third of all Part D plans and encourages PACE programs to engage third parties to help with oversight and administration. of their plans Personica’s Part D solutions are designed to meet these demands and include: Medicare and state reporting requirements, claims processing, fraud monitoring, waste and abuse and drug utilization review programs

Dr Knowlton continues: «  Since our IPO in 2016, we have made a number of strategic acquisitions to expand our offering in the PACE market, and a recent internal analysis of return on invested capital validates our strategy. M&A Personica is a natural and compelling addition to our current family of CareVention solutions, and we are delighted to welcome their customers and dedicated team members to the TRHC family.at ????

Personica CEO Peter Farrow said, “The synergy of tools brought together by TRHC will benefit new and existing PACE plans, and more importantly, the members they serve. The PACE market will continue to grow at healthy rates as its value-based model delivers exceptional results in its mission to care for the elderly This is an exciting development for TRHC, our team and PACEâ € ”

TRHC management to provide further details on the Personica acquisition during the review of TRHC’s third quarter 2020 results on Wednesday, November 4, 2020 at 8:30 a.m. EST Personica has experienced strong growth in recent years, including 2020 with an exciting pipeline of new start-ups and existing PACE organizations Personica reported 2019 USD 9 million in revenue, an increase of 25% from compared to 2018 This transaction is immediately accretive for TRHC

Morgan, Lewis & Bockius LLP served as legal counsel to TRHC Anderson Oâ ???? Brien Bertz Skrenes & Golla LLP was legal counsel to Personica

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Tabula Rasa HealthCare, NASDAQ: TRHC, Health Care, Medicare, Centers for Medicare & Medicaid Services

News from around the world – EN – Tabula Rasa HealthCare (TRHC) announced the acquisition by Personica



SOURCE: https://www.w24news.com/news/world-news-gb-tabula-rasa-healthcare-trhc-announces-the-acquisition-of-personica/?remotepost=382679

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