Tabula Rasa HealthCare, ExactCare to merge

Tabula Rasa HealthCare announced it has entered into a definitive agreement to be acquired by Nautic Partners for $10.50 in cash per share and will combine with ExactCare Pharmacy, a portfolio company of Nautic. The all-cash transaction values Tabula Rasa at approximately $570M, including net debt of approximately $262M, on an enterprise value basis. Under the terms of the Agreement, Tabula Rasa stockholders will receive $10.50 in cash for each share of common stock at the closing of the transaction, representing a premium of approximately 34% to Tabula Rasa’s closing stock price on August 4, 2023, the last trading day prior to announcement. The transaction is expected to close during the fourth quarter of 2023, subject to the satisfaction of customary closing conditions, including the receipt of stockholder and regulatory approvals. Following the closing of the transaction, Tabula Rasa will become a privately held company wholly owned by an affiliate of ExactCare and shares of Tabula Rasa common stock will no longer be listed on the Nasdaq stock exchange.