Tabula Rasa HealthCare acquires SinfoníaRx

Tabula Rasa HealthCare (TRHC), Inc., a healthcare technology company optimizing medication safety by deploying new medication risk mitigation digital software solutions and novel, proprietary medication decision support tools, has consummated the acquisition of SinfoníaRx, a leading provider of Medication Therapy Management (MTM) technology and services for Medicare, Medicaid, and Commercial Health plans.

SinfoníaRx is a rapidly growing healthcare company offering innovative solutions for health entities, patients and caregivers. Originally established in 2006 at the University of Arizona College of Pharmacy, SinfoníaRx became a wholly owned subsidiary of Sinfonía HealthCare Corporation in 2013 to further develop a scalable MTM solution to meet the needs of large payors.

SinfoníaRx offers a full suite of MTM solutions supporting more than 50 million patients including: Part D compliant MTM programs, Star improvement programs, community pharmacy performance programs, and transition of care/chronic care management programs.

The acquisition of SinfoníaRx further solidifies TRHC’s powerful healthcare technology platform, offering best-in-class MTM to strategic markets such as Part D providers, commercial payors, pharmacy benefit managers, and self-funded employers. Exposure to these large customers will enable TRHC to leverage its proprietary medication decision support tools in the broader market, presenting meaningful cross-selling market expansion opportunities.  It also generates significant scale to TRHC’s services business and diversifies its revenue stream. SinfoníaRx generated revenue of $27.1 million in 2016 and is projected to generate revenue of $31 million for the full year 2017.