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BlackRock and GTCR-backed TDS to buy Tabula Rasa HealthCare’s PrescribeWellness business

PrescribeWellness is a provider of patient relationship management solutions.

  • TDS is a provider of pharmacy-focused, patient-centric solutions
  • The deal is expected to close in the third quarter of 2022
  • Citigroup Global Markets Inc is acting as financial advisor to TRHC while Keval Health is acting as financial advisor to TDS

Transaction Data Systems, which is backed by BlackRock and GTCR, has agreed to acquire Tabula Rasa HealthCare Inc’s PrescribeWellness business. No financial terms were disclosed.

TDS is a provider of pharmacy-focused, patient-centric solutions. PrescribeWellness has a national footprint of more than 15,000 community and chain pharmacies.

On the deal, Jude Dieterman, CEO of TDS, said in a public statement: “Adding PrescribeWellness to our existing suite of industry-leading PMS and patient-centric solutions will enable our pharmacist customers to engage with patients, ensure access to the right therapies, drive medication adherence, improve outcomes, boost patient loyalty and generate incremental pharmacy revenue. This acquisition, our ongoing collaboration with MedWise and TRHC, and our commitment to innovation will secure our pharmacy customers’ position as primary providers in the evolving nexus of clinical care.”

The transaction is anticipated to close in the third quarter of 2022.

Citigroup Global Markets, Inc. is acting as financial advisor to TRHC while Morgan, Lewis & Bockius LLP is serving as legal advisor to TRHC. Keval Health is acting as financial advisor and Simpson Thatcher & Bartlett LLP is serving as legal advisor to Transaction Data Systems.