NJ TECH CORNER: Tabula Rasa Healthcare, Inc.

Photo: Calvin H. Knowlton, cofounder, chairman and CEO of Tabula Rasa Healthcare Photo Credit: Courtesy Tabula Rasa Healthcare

Calvin H. Knowlton, cofounder, chairman and CEO of Tabula Rasa Healthcare | Courtesy Tabula Rasa Healthcare

Company Overview

Tabula Rasa Healthcare, Inc. (NASDAQ:TRHC) is a provider of patient-specific, data-driven technology and solutions that enable healthcare   organizations to optimize medication regimens to improve patient outcomes, reduce hospitalizations, lower healthcare costs, and manage risks. Clients include at-risk healthcare organizations, primary Program for All-inclusive Care for the Elderly (PACE) organizations, managed-care organizations, post-acute care facilities, behavioral health organizations and other provider groups. Founded in 2011, the Moorestown-based company has a total workforce of more than 200 employees.

Investment & Financial Information

 

Shares of common stock outstanding (April 25, 2017):

17,218,168

 

Share price of stock (Jan. 26, 2018 )

  $35.86

Share price of stock (one year ago)

  $14.53

Current valuation (Jan, 26,2018)

  $617.44 million

Valuation one year ago

  $241.61 million

Stock Symbol:

TRHC

Revenues (as of 9 months ended Sept. 30, 2017)

 

$71.39 million

Revenues (as of  9 months ended Sept. 30, 20160

$58.73 million

Net Income(as of 9 months ended Sept. 30, 2017)

 

$3.35 million

Net Income (Loss) (as of 9 months ended Sept. 30, 2016)

 

 

($219,000)

Management Team

 

Name

Age

Title

Dr. Calvin H. Knowlton

67

Co-Founder, Chairman and CEO

Dr. Orsula V. Knowlton

 

49

 

Co-Founder and President

Brian Adams

 

36

 

Chief Financial Officer

Board of Directors

 

Name

Age

Title

Glenn Bressner

56

Director, CareKinesis, Inc.*;Managing Partner, Originate Ventures and Mid-Atlantic Funds; Vice Chairman, Innovative Solutions and Support Inc.; Chairman of Audit Committee and Member, Board of Governors of St. Christopher’s Hospital for Children

Daniel Lubin

57

Director, CareKinesis, Inc.*; Managing Partner and Co-Founder, Radius Ventures, LLC

Bruce Luehrs

63

Director, CareKinesis, Inc.*; Managing Partner, Rittenhouse Ventures

Dr. Dennis Helling

68

Clinical Professor, University of Colorado Skaggs School of Pharmaceutical Sciences; Co-Founder and former President, American College of Clinical Pharmacy; Member of the Board, Care Synergy; Vice-Chairman, The Denver Hospice Board of Directors; Member, American Pharmacists Association Board of Trustees and Pharmacy Specialties Board of Directors  

Dr. Calvin H. Knowlton

67

Chairman and CEO, CareKinesis, Inc.*;Member of the  Board and Executive Committee, Coriell Institute for Medical Research; Chair, Board of Coriell Life Sciences, Inc.; Board Chair,  Evergreens Continuing Care Retirement Community Board of Trustees; Board Chair, Founding Member, The Board of the Cooper Medical School of Rowan University; Member, APha Pharmacogenomics Task Force and national Pharmacogenomics Advisory Group

Dr. Orsula V. Knowlton

49

President and Director, CareKinesis, Inc. *;Board of Trustees and Chair of Quality Committee Samaritan Hospice; Member, Board of Trustees for the West Jersey Chamber Music Society

A Gordon Tunstall

73

Director, CareKinesis*;Founder, Tunstall Consulting

*CareKinesis is a wholly owned subsidiary of Tabula Rasa Healthcare.

Noteworthy Control

 

Name

Shares of common stock owned

% of total common shares

 

Originate Growth Fund #1  Q, L.P. and its affiliates

 

2,794,932

  16.3 percent

 

 

 

  Glenn Bressner

 

  2,794,932

 

  16.3%

 

  Dr. Calvin H. Knowlton

 

 

  2,017,803

 

  11.8%

 

  Dr. Orsula V. Knowlton

 

  2,017,803

 

  11.8%

 

  Radius Venture Partners III QP, L.P. and     its affiliates

 

  1,842,301

 

 

  10.8%

 

  Daniel Lubin

 

  1,842,407

 

  10.8%

 

  Emerald Stage 2 Ventures L.P.

 

  960,407

 

  5.6%

 

  Bruce Luehrs

 

 

  960,407

 

  5.6%

[All information for NJ Tech Corner was taken from the company’s annual reports and proxy statements and other company sources, with the exception of the company’s stock price and valuation.]

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