MOORESTOWN, N.J., Nov 09, 2016 (GLOBE NEWSWIRE via COMTEX) —
Tabula Rasa HealthCare, Inc. (“TRHC”) TRHC, +4.66% a leader in providing 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 risk, today announced its financial results for the third quarter ended September 30, 2016.
TRHC Chairman and CEO, Calvin H. Knowlton, Ph.D., commented, “I’m pleased with our performance during our first publically reported quarter. We continue to win new business within our core market, PACE (Program of All-Inclusive Care for the Elderly, a Medicare Advantage-type plan), as well as successfully expand our Medication Risk Mitigation platform into adjacent markets with other types of health plans, further proving its scalability.”
Dr. Knowlton continued, “There is significant runway ahead of us as we continue to develop and evolve our proprietary Medication Risk Mitigation platform and address larger patient populations with our goal of improving outcomes and lowering healthcare cost.”
Financial Performance for the Three Months Ended September 30, 2016
All comparisons, unless otherwise noted, are to the three months ended September 30, 2015.
A reconciliation of GAAP to non-GAAP results has been provided in this press release in the accompanying tables. Non-GAAP results exclude change in fair value of warrant liability, loss on extinguishment of debt, change in fair value of acquisition-related contingent consideration (income) expense and stock-based compensation expense. An explanation of these measures is also included below under the heading “Non-GAAP Financial Measures”.
Business Outlook
Fourth Quarter 2016 Guidance: Revenue for TRHC’s fourth quarter 2016 is expected to be in the range of $25 million to $26 million. Net loss is expected to be in the range of $6 million to $7 million. Net loss projections include approximately $5 million of expense related to the extinguishment of debt associated with the early repayment of a credit facility in connection with TRHC’s initial public offering, as well as stock based compensation expense of approximately $3.5 million related to restricted stock grants and shares issued in connection with the initial public offering. Adjusted EBITDA is expected to be in the range of $3.5 million to $4.0 million.
Full Year 2016 Guidance: Revenue for fiscal year 2016 is expected to be in the range of $92 million to $93 million. Net loss is expected to be in the range of $6 million to $7 million. Net loss projections include approximately $6.4 million of expense related to the extinguishment of debt, as well as stock based compensation expense of approximately $3.6 million related to restricted stock grants and shares issued in connection with the initial public offering. Adjusted EBITDA is expected to be in the range of $12.5 million to $13.0 million.
TRHC has not provided a reconciliation of projected GAAP Net Income to Adjusted EBITDA guidance because estimates of certain reconciling items cannot be provided without unreasonable effort. Our Adjusted EBITDA guidance for the year ending December 31, 2016, assumes anticipated losses of $6.4 million related to the extinguishment of debt, income of $0.6 million related to the remeasurement of our warrant liability, projected stock compensation of $4.2 million, projected depreciation and amortization charges of $5.1 million and interest expense of $4.5 million. In addition, we assume $0.4 million of income tax expense related to indefinite-lived deferred tax liabilities for goodwill amortization. We cannot provide a reliable forward-looking estimate of certain other reconciling items because they are either event-driven or difficult to quantify without unreasonable effort, in particular the revaluation of our contingent consideration.
MOORESTOWN, N.J., Nov. 01, 2016 (GLOBE NEWSWIRE) — Tabula Rasa HealthCare(NASDAQ:TRHC) announced today its Chairman and CEO Calvin H. Knowlton, PhD, has been named a finalist by SmartCEO magazine for its 2016 Circle of Excellence – Technology Award. The Award “recognizes the region’s most accomplished CEOs for business excellence”.
According to SmartCEO, companies are nominated from all size and industry categories, public and private. An independent committee of business leaders selects the winners based on “industry impact, innovation and market leadership”.
“Tabula Rasa HealthCare is devoted to leveraging technology to improve health care,” said Knowlton. “We are at the forefront of precision medicine with solutions that help clients tailor medical treatment to the individual characteristics of each patient. Our cloud-based software applications are designed to identify high-risk individuals, detect susceptibility to adverse drug events (ADEs) and embed proper dosing guidelines.”
TRHC products and services are built around the Company’s proprietary Medication Risk Mitigation Matrix® and other software applications that provide solutions for a range of payors, providers and healthcare organizations. TRHC is the market leader in providing medication risk management, risk adjustment and front-end coding for the Program of All-Inclusive Care for the Elderly (PACE), as well as a leader in pharmacy cost management solutions.
Finalists will be profiled in the November/December issue of SmartCEO magazine. The winners are celebrated at a gala event November 9, 2016 in Philadelphia.
About Tabula Rasa HealthCare
Tabula Rasa HealthCare (NASDAQ:TRHC) is a leader in providing 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 risk. Medication risk management is TRHC’s lead offering, and its cloud-based software applications provide solutions for a range of payers, providers and other healthcare organizations. For more information, please visit: www.TRHC.com.
Contact: Media Dianne Semingson dsemingson@TRHC.com T: 215-870-0829 Investors Bob East or Asher Dewhurst Westwicke Partners 443-213-0500 tabularasa@westwicke.com
MOORESTOWN, N.J., Oct. 26, 2016 (GLOBE NEWSWIRE) — Tabula Rasa HealthCare, Inc.(NASDAQ:TRHC), a leader in providing 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 risk, will release its third quarter 2016 operating results on Wednesday, November 9, 2016 after market close, with a conference call to follow at 5:00 p.m. EDT.
Stockholders and interested participants may listen to a live broadcast of the conference call by dialing 844-413-0947 or 216-562-0423 for international callers, and referencing participant code 98688454 approximately 15 minutes prior to the call. A live webcast of the conference call will be available on the investor relations section of the company’s web site and an audio file of the call will also be archived for 90 days at ir.trhc.com. After the conference call, a replay will be available until December 9, 2016 and can be accessed by dialing 855-859-2056 or 404-537-3406 for international callers, and referencing participant code 98688454.
About Tabula Rasa HealthCare
Tabula Rasa HealthCare (TRHC) is a leader in providing 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 risk. Medication risk management is TRHC’s lead offering, and its cloud-based software applications provide solutions for a range of payers, providers and other healthcare organizations. For more information, please visit: www.tabularasahealthcare.com.
Contact: Investors Bob East or Asher Dewhurst Westwicke Partners 443-213-0500 tabularasa@westwicke.com Media Dianne Semingson dsemingson@TRHC.com 215-870-0829
Tabula Rasa Healthcare, Inc.
MOORESTOWN, N.J., Oct. 04, 2016 (GLOBE NEWSWIRE) — Tabula Rasa HealthCare, Inc.(NASDAQ:TRHC), a leader in providing 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 risk, today announced the closing of its initial public offering of 4,945,000 shares of common stock at an initial public offering price of $12.00 per share, which includes the exercise in full by the underwriters of their option to purchase up to 645,000 additional shares of common stock. All of the shares in the offering were offered by Tabula Rasa. Tabula Rasa’s common stock is listed on the NASDAQ Global Marketunder the ticker symbol “TRHC.” Tabula Rasa estimates net proceeds from the offering to be approximately $51.6 million, after deducting underwriting discounts and commissions and estimated offering expenses.
Wells Fargo Securities and UBS Investment Bank acted as joint-book running managers for the offering. Piper Jaffray also acted as a book-runner and Baird and Stifel acted as co-managers for the offering.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission and was declared effective on September 28, 2016. The offering will be made only by means of a written prospectus forming part of the effective registration statement. A copy of the final prospectus relating to this offering, when available, may be obtained for free by visiting EDGAR on the SEC’s website at www.sec.gov, or alternatively, from: Wells Fargo Securities, LLC by mailing: Attention: Equity Syndicate Department, 375 Park Avenue, New York, NY 10152, by email: cmclientsupport@wellsfargo.com or by Telephone: (800) 326-5897, or from UBS Securities LLC by mailing: Attention: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019 or by Telephone: (888) 827-7275.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Tabula Rasa HealthCare
Tabula Rasa HealthCare (TRHC) is a leader in providing 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 risk. Medication risk management is TRHC’s lead offering, and its cloud-based software applications provide solutions for a range of payers, providers and other healthcare organizations. For more information, please visit: www.tabularasahealthcare.com.
Contact Bob East or Asher Dewhurst Westwicke Partners 443-213-0500 tabularasa@westwicke.com
Tabula Rasa Healthcare, Inc.
MOORESTOWN, N.J., Sept. 28, 2016 (GLOBE NEWSWIRE) — Tabula Rasa HealthCare, Inc.(NASDAQ:TRHC), a leader in providing 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 risk, today announced the pricing of its initial public offering of 4,300,000 shares of its common stock, at a price of $12.00 per share, before underwriting discounts and commissions. All of the common stock is being offered by Tabula Rasa. The shares are expected to begin trading on The NASDAQ Global Market on September 29, 2016, under the symbol “TRHC.” In addition, Tabula Rasa granted the underwriters a 30-day option to purchase up to 645,000 additional shares of its common stock at the public offering price, less underwriting discounts and commissions. This offering is expected to close on October 4, 2016, subject to customary closing conditions.
Wells Fargo Securities and UBS Investment Bank are acting as joint-book running managers for the offering. Piper Jaffray is also acting as a book-runner, with Baird and Stifel acting as co-managers for the offering.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission and was declared effective on September 28, 2016. The offering will be made only by means of a written prospectus forming part of the effective registration statement. A copy of the final prospectus relating to this offering, when available, may be obtained for free by visiting EDGAR on the SEC’s website at www.sec.gov, or alternatively, from: Wells Fargo Securities, LLC by mailing: Attention: Equity Syndicate Department, 375 Park Avenue, New York, NY 10152, by email: cmclientsupport@wellsfargo.com or by Telephone: (800) 326-5897, or from UBS Securities LLC by mailing: Attention: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019 or by Telephone: (888) 827-7275.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Contact Bob East or Asher Dewhurst Westwicke Partners 443-213-0500 tabularasa@westwicke.com
Boston, MA – June 6, 2016 –BA Insight and LexisNexis Legal & Professional today announced a strategic alliance that integrates Lexis Search Advantage natively into law firms’ Microsoft SharePoint environments using the BA Insight Software Portfolio to optimize legal research, drafting and review processes. By layering Lexis Search Advantage capabilities on top of their BA Insight knowledge management systems, law firms open up access to the full capabilities and content of LexisNexis research solutions – reaping significant efficiency and quality benefits.
Lexis Search Advantage enriches and simplifies the legal research workflow by enabling legal professionals to search and vet their firm’s internal documents easier, and then validate and extend their research to the extensive portfolio of LexisNexis legal research tools and resources such as Lexis Advance, Shepard’s Citation Service, LexisNexis Litigation Profile Suite, as well as the open Web.
The new offering integrates Lexis Search Advantage content enrichment and services with BA Insight’s products such as Visual Refiners, Smart Previews, Expertise Locator, Matter Comparison and User-Generated InfoSites.
“Our partnership with BA Insight empowers law firms to maximize the benefits of their SharePoint environments to deliver a higher quality research experience to their users through the value-added services from Lexis Search Advantage,” said Jeff Pfeifer, Vice President, Product Management at LexisNexis. “The deep integration with Lexis Advance puts trusted legal resources and validation tools at users’ fingertips, providing greater search precision, direct access to deeper insights and real-time tools to validate the findings—all just one click away.”
Attorneys and legal professionals can work directly within SharePoint and enjoy seamless, powerful access to the resources they need, when they need them, in a way that is a natural fit for their everyday workflow, such as:
“Through this partnership, the capabilities of Lexis Search Advantage are made available to all SharePoint customers, streamlining the research process for legal professionals and reducing the time spent searching for relevant content,” said Massood Zarrabian, CEO of BA Insight. “When combined with the BA Insight Software Portfolio, users benefit from a range of capabilities that provide an intuitive search experience to quickly surface relevant information and resolve client issues more efficiently.”
Additionally, Lexis Search Advantage users can further boost their productivity by leveraging the service’s integration with Lexis for Microsoft Office, an industry-leading workflow tool that brings the documents, insights and value-add from Lexis Search Advantage directly into the user’s Microsoft Word or Outlook documents.
BA Insight’s software addresses the Speed to Information challenge organizations face by quickly connecting SharePoint users to the knowledge they need – linking key enterprise systems with an easy-to-implement, use and upgrade software portfolio. Our software enhances SharePoint out-of-the-box, increasing user adoption while decreasing user complaints. It replaces slow, high effort, and expensive customized approaches with easy to use, off-the-shelf software.
Our software portfolio includes connectors and federation to provide secure connectivity to a wide variety of systems; classification that increases findability using auto-tagging, metadata generation, and text analytics; and applications with search squarely at the interface of users and information.
Hundreds of organizations and millions of users benefit from BA Insight’s software on a daily basis to provide compelling intranets that people love to use including Australian Government Department of Defence, CA Technologies, Chevron, Deloitte, Ford Motor Company, Keurig Green Mountain, Pfizer, and Travers Smith. BA Insight is a Microsoft Gold Certified Partner, a member of the Microsoft Enterprise Cloud Alliance, and an Elastic Partner.
Visit www.BAinsight.com for more information and follow us at @BAinsight.
LexisNexis Legal & Professional is a leading global provider of content and technology solutions that enable professionals in legal, corporate, tax, government, academic and non-profit organizations to make informed decisions and achieve better business outcomes. As a digital pioneer, the company was the first to bring legal and business information online with its Lexis® and Nexis® services. Today, LexisNexis Legal & Professional harnesses leading-edge technology and world-class content to help professionals work in faster, easier and more effective ways. Through close collaboration with its customers, the company ensures organizations can leverage its solutions to reduce risk, improve productivity, increase profitability and grow their business. LexisNexis Legal & Professional, which serves customers in more than 175 countries with 10,000 employees worldwide, is part of RELX Group plc, a world-leading provider of information and analytics for professional and business customers across industries.
Christine Alberti
Sr. Director, Communications
LexisNexis Legal & Professional
christine.alberti@lexisnexis.com
212.448.2118
Boston, MA – January 26, 2016 – BA Insight, a leading provider of connectivity, metadata classification and user interaction software for SharePoint, and Recommind, a leading provider of Enterprise Search, eDiscovery and Contract Analysis software, today announced a strategic alliance to integrate Decisiv Search natively into SharePoint using the BA Insight software portfolio. BA Insight products will be able to leverage the full power of Decisiv Search for analytics, smart previews and in applications such as expertise location and user-generated infosites.
Organizations that use Decisiv software can now deploy SharePoint portals and intranets using the full range of BA Insight’s software portfolio, significantly improving the way organizations find and work with content inside and outside of SharePoint. Organizations that use SharePoint can now integrate Decisiv Search as an alternative to the native SharePoint search, or use both in combination.
“This alliance brings Recommind’s world class search capability to all SharePoint customers, and combined with the power of the BA Insight software portfolio it seamlessly provides a range of capabilities that extend far beyond SharePoint out of the box to help users quickly find the information they need,” said Massood Zarrabian, CEO of BA Insight. “BA Insight’s close Microsoft relationship, combined with this strategic alliance with Recommind, protects customers’ investments as SharePoint and Office 365 evolve.”
Decisiv Search provides powerful concept-based search technology to connect relevant information in document management, records management, portal and e-mail systems and a myriad other applications and databases with the users that need it.
“Our collaboration with BA Insight provides a best of breed integration of the award winning Decisiv Search into SharePoint. This allows customers to easily and securely access information stored in multiple data sources from within their SharePoint environment, enabling them to quickly find the precise documents and experts they need to do their jobs,” said Jerome Levadoux, SVP Product Management and Marketing at Recommind.
BA Insight’s software addresses the Speed to Information challenge organizations face by quickly connecting SharePoint users to the knowledge they need – linking key enterprise systems with an easy-to-implement, use and upgrade software portfolio. Our software enhances SharePoint out-of-the-box, increasing user adoption while decreasing user complaints. It replaces slow, high effort, and expensive customized approaches with easy to use, off-the-shelf software.
Our software portfolio includes connectors and federation to provide secure connectivity to a wide variety of systems; classification that increases findability using auto-tagging, metadata generation, and text analytics; and applications with search squarely at the interface of users and information.
Hundreds of organizations and millions of users benefit from BA Insight’s software on a daily basis to provide compelling intranets that people love to use including Australian Government Department of Defence, CA Technologies, Chevron, Deloitte, Ford Motor Company, Keurig Green Mountain, Pfizer, and Travers Smith. BA Insight is a Microsoft Gold Certified Partner, a member of the Microsoft Enterprise Cloud Alliance, and an Elastic Partner.
Visit www.BAinsight.com for more information and follow us at @BAinsight.
About Recommind
Recommind’s enterprise search software dramatically improves access to a wide variety of information across large, distributed enterprises. Recommind’s advanced analytics help legal teams identify the facts that matter for eDiscovery, investigations, contract analysis, and knowledge management. Our clients include AstraZeneca, BMW, Cisco, Clifford Chance, Marathon Oil, Morgan Lewis, the U.S. Securities and Exchange Commission (SEC), Swiss Re, the U.S. Department of Energy (DOE), White & Case, and WilmerHale. Recommind is headquartered in San Francisco and has offices in New York, Boston, London, and Bonn. For more information go to www.recommind.com.
New WorkTrak App Simplifies Work for Hourly Employees with Android and iOS Devices
STERLING, VA – December 3, 2015 – Natural Insight, a leading provider of cloud-based Workforce Management Software for retail merchandising and field marketing, announced today the availability of WorkTrak, a new Mobile App for Android™ and iOS® devices. The new native application leverages Natural Insight’s already best-in-class HTML5 architecture and delivers a rich user experience that simplifies scheduling, time keeping, task management, photo capture, and data reporting for more than 80,000 hourly workers executing merchandising and marketing programs across the entire retail ecosystem. “Throughout our history we’ve been dedicated to making hourly and mobile work easier for both employers and employees,” said Stefan Midford, CEO of Natural Insight. “Today, we’re taking a big step forward by injecting new level of mobile productivity into our platform that gives customers the flexibility to choose between a world-class web solution that works on any device in any browser – or, a native application that enables rich user experiences on Android and iOS devices.” “Retail field operations are critical to our business and that’s why we partner with Natural Insight to schedule staff, capture time and attendance, collect data, and measure operational results in real time,” said Mike Skinner, Chief Technology Officer of ActionLink. “And now, with WorkTrak, our users will have the added benefit of a native application experience.” The Best of Both Worlds: Natural Insight has been a long time innovator in delivering HTML5 and BYOD-friendly mobile productivity solutions that work seamlessly on any browser and any device. Now, with the introduction of WorkTrak, Natural Insight is extending its HTML5 innovation to include a native application experience for workers equipped with Android and iOS devices. Architecture Summary: WorkTrak extends and enhances Natural Insight’s existing web architecture by delivering a native wrapper experience that presents the user with identical capabilities otherwise available in a web browser experience. Therefore, the end-user experience is familiar and comfortable, and yet it harnesses the power of the device-side services to enhance off-line functionality and large volume photo capture. Native Features:
About Natural Insight |
Media Contacts: Matt Howard VP, Sales & Marketing mhoward@naturalinsight.com |
17 November 2015 by Peter O Neill
The European SharePoint Community Awards are an integral part of the European SharePoint Conference and Community and were held this year in the magical Stockholm City Hall – home of the Nobel Peace Prize. Our sincere thanks to everyone who took part in this years awards, to all those who submitted entries and especially to our community for casting their votes and selecting the winners.
We are delighted to announce the following companies have been voted as the winners in their respective categories by European SharePoint Community Members in 2015:
BA Insight’s solution is highly innovative and brings leading edge capabilities to the market.
No other solution provides the breath of connectivity, the depth of capabilities, or the flexibility to handle such a variety of configurations and requirements. Examples of unique innovations:
BA Insight have worked intimately with Microsoft within TAP programs for the Cloud SSA, the Office Graph, and O365 APIs to ensure that we are leveraging the latest Microsoft innovations and providing a robust solution early. The company have released it in lockstep with Microsoft’s releases so that customers could benefit from it as soon as possible. Microsoft has cited this as an innovative partner solution and states, “With BA Insight’s products, Office 365 customers can now take advantage of our cloud experiences for all of their content.”We have paid attention to the concerns of our EC customers with this solution, tackling the problems they have brought to us around distributed configurations, administration, data residency, privacy, and compliance- ensuring that they can solve them with our product.Many SharePoint customers are struggling to adapt to Microsoft’s “Cloud First/Cloud Only” model. BA Insight believe their Connectivity for Hybrid SharePoint solution will help their clients to leapfrog ahead. Find out more by visiting bainsight.com.
Leading experiential marketing agency leverages Natural Insight for scheduling, time keeping, field communications, task management, and reporting
WASHINGTON, DC/TORONTO, CANADA – November 17, 2015 – Natural Insight announced today that FUSE Marketing Group Inc. (www.fusemg.com) has selected its hourly workforce management platform to schedule, manage, and measure hourly and mobile employees responsible for executing field based marketing events. Founded in 2003, FUSE Marketing Group designs, plans and delivers award winning field marketing events on behalf of brands such as CIBC, Canadian Tire, Cashmere, and Hyundai, among others. “Brands count on FUSE to design, organize, and execute marketing campaigns that break through the clutter of modern media and connect emotionally with consumers,” said Nicole Gallucci, SVP of Experiential at FUSE. “Our partnership with Natural Insight is all about organizing, scheduling, and managing the talented brand ambassadors who help us deliver memorable events on behalf of our clients.” “As experiential marketing continues to grow, brands are turning to innovators like FUSE who possess talented pools of people, rigorous processes, and technology services required to execute and measure world-class marketing events,” said Stefan Midford, CEO of Natural Insight. “We’re thrilled that FUSE will be utilizing the Natural Insight platform to organize, schedule, manage, and measure the human labor that is critical to their success.” About Natural Insight About FUSE Marketing Group For more information or to schedule an interview with FUSE Marketing Group please contact Susan Willemsen at The Siren Group Inc. Tel: 416-461-5270 or e-mail: susan@thesirengroup.com. |
Media Contacts: Matt Howard VP, Sales & Marketing mhoward@naturalinsight.com |