MOORESTOWN, N.J., Aug. 01, 2018 — Tabula Rasa HealthCare, Inc. (“TRHC”) (NASDAQ:TRHC), a healthcare technology company advancing the field of medication safety, today announced it has entered into a letter of intent with Associação Nacional das Farmácias (“ANF”), the Portuguese national association of pharmacies, documenting a multi-phased approach to bring TRHC’s Medication Risk Mitigation (“MRM”) technology and services to Western Europe. This framework represents the first expansion of TRHC’s solutions beyond North America.
The initial phase of this collaboration includes MRM modeling, workflow design, implementation, assessment and process improvement in a hospital environment in Portugal and/or Spain. In addition, TRHC and ANF will collaborate to determine the potential for the integration of TRHC’s MedWise™, a proprietary software that provides prescribers with insight to manage medication risk, with ANF’s corporate segment solutions.
“TRHC has established an impressive footprint in North America as a leader in the development of technologies that address the growing concern across all facets of healthcare around safe and effective medication management,” said TRHC Chairman and CEO, Calvin H. Knowlton, Ph.D. “As the international community expands its awareness of the problems associated with multi-drug interactions, such as adverse drug events (“ADEs”), TRHC is once again at the forefront. We look forward to collaborating with Associação Nacional das Farmácias to optimize prescribing and patient care in Western Europe.
Avoidable ADEs caused by dangerous drug interactions and the imprecise use of prescriptions present challenges worldwide. In Europe, there are approximately 8.6 million hospital admissions caused by ADEs every year with ADEs accounting for 2.5% -10.6% of hospital admissions. 1,[2] TRHC’s MRM tools and proprietary technology identifies patients’ risk for multi-drug interactions before they occur, helping physicians make safer prescribing choices and take a more personalized approach to prescribing medications, including medication selection, dosage levels, time-of-day administration and reduction of the total number of medications by eliminating unnecessary prescriptions.
“Pharmacies play a unique and pivotal role within the Portuguese healthcare system,” said Paulo Cleto Duarte, PharmD, MBA, president of Associação Nacional das Farmácias. “Working with Tabula Rasa HealthCare, we are able to access innovative technology and pharmacological expertise that we believe will help us improve the standard of care for patients.”
TRHC’s MRM services include a Medication Safety Review that utilizes the company’s proprietary MedWise™ platform which analyzes simultaneous, accumulative, multi-drug interactions. It also includes the option for pharmacogenomics analysis which allows prescribers to understand how a patient’s genes affect their response to medications.
About Associação Nacional das Farmácias
Founded in 1975, Associação Nacional das Farmácias is the Portuguese national association of pharmacies. The organization represents the interests of over 2,800 affiliated pharmacies in Portugal (app. 95% of Portuguese market). ANF’s mission is to make pharmacies the primary health care network of Portuguese citizens by intervening in a wide range of areas: political/associative, professional, finance and economics and corporate support to Pharmacy Business Development. ANF also holds the majority stake in Farminveste, SGPS, which is the holding that incorporates the assets and companies operating in Portugal and in several other countries in Europe in the healthcare perimeter.
Forward-Looking Statements
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.