Why Shares of Tabula Rasa HealthCare Are Soaring Monday
Shares of Tabula Rasa HealthCare (NASDAQ: TRHC) were up more than 31% at 10:55 a.m. on Monday after the company announced that it had entered into a definitive merger agreement to be acquired by the private equity firm Nautic Partners for $10.50 in cash per share and will combine with ExactCare Pharmacy, a portfolio company of Nautic. The stock reached a 52-week high on Monday and is up more than 108% so far this year.
Tabula Rasa is a healthcare company that focuses on managed care for value-based care organizations. Basically, the company uses its platform to help healthcare organizations improve medication regimens for better patient outcomes, lower healthcare costs and lower risk. The combination with ExactCare is viewed as complementary and should provide some synergy as the company looks to increase its client base.
The deal will pay shareholders a 34% premium on the stock's closing price from Aug. 4. The all-cash deal is worth roughly $570 million, including debt of around $262 million. The transaction is expected to close by the fourth quarter.
Source Fool.com
