Nautic Partners to acquire healthcare company Tabula Rasa in take-private deal

• The deal puts Tabula Rasa at a valuation of about $570 million
• When the transaction closes, Tabula Rasa will stop trading on the NASDAQ
• The deal is expected to close during the fourth quarter of 2023

Nautic Partners has agreed to acquire Tabula Rasa, a healthcare company, in a take-private deal for $10.50 in cash. Also, Nautic will merge Tabula with portfolio company ExactCare Pharmacy, a medication management and pharmacy care provider.

The deal puts Tabula Rasa at a valuation of about $570 million.

When the transaction closes, Tabula Rasa will stop trading on the NASDAQ.

As a result of the completion of the deal, John Figueroa, ExactCare’s current executive chairman, will assume the role of chairman and CEO of the combined company. Tabula Rasa will continue operations in all of its locations, including Moorestown, New Jersey, and Brian Adams, Tabula Rasa’s current president and CEO, will assume the role of president of the combined company.

On the deal. Michael Purcell, independent board chairman of Tabula Rasa, said in a statement, “The board has worked closely with Brian and the team to position Tabula Rasa for value enhancing opportunities since its reconstitution in 2022. This transaction now provides our stockholders with a significant premium and liquidity – while also accelerating our investments in solutions that transform patient quality of life and improve the performance of our payer and provider clients.”

The transaction is expected to close during the fourth quarter of 2023.

Goldman Sachs is acting as financial advisor to Tabula Rasa while Cantor Fitzgerald is acting as lead financial advisor and Centerview Partners is also acting as financial advisor to ExactCare and Nautic.

Based in Providence Rhode Island, Nautic Partners targets on healthcare, industrials and services sectors.