MOORESTOWN, N.J., Jan. 07, 2019 (GLOBE NEWSWIRE) -- Tabula Rasa HealthCare, Inc. (NASDAQ: TRHC), a healthcare technology company advancing the field of medication safety, today announced that it completed its acquisition of precision dosing software company DoseMe on January 2, 2019. DoseMe is the developer of DoseMeRx, an advanced precision dosing tool that helps physicians and pharmacists accurately dose patients’ high-risk parenteral medications based on individual needs, resulting in significant improvements to mortality, risk, and patient outcomes.
DoseMeRx’s precision dosing capabilities will combine with TRHC’s proprietary Medication Risk Mitigation (MRM) technologies to enhance and accelerate medication safety solutions and will be made available to the hospital healthcare system market and internationally.
Charles Cornish, the Chief Executive Officer of DoseMe, will retain his position following the completion of the acquisition and will be relocating to TRHC’s headquarters in Moorestown, NJ. Robert McLeay, Ph.D, Founder of DoseMe, also will remain with DoseMe and will serve as Chief Scientific Officer of DoseMe. Dr. McLeay will remain located at DoseMe’s offices in Brisbane, Australia.
Mr. Cornish’s background encompasses more than 20 years in various medical devices, pharmaceuticals, healthcare consumables, funds management and management consulting roles throughout North America, Europe, South America and Asia Pacific; progressing from sales and marketing, strategy and finance to CEO. Mr. Cornish also has served as a director of various corporate boards. Dr. McLeay founded DoseMe in 2012 where he combined his experience in modelling biological data and delivering large information technology projects with the goal of providing access to best-practice precision dosing via easy-to-use software designed for clinical practice.
“What a terrific way to start 2019,” said TRHC’s Chairman and CEO Calvin H. Knowlton, Ph.D. “Not only is TRHC combining DoseMe’s state-of-the-art decision support tool with our ability to predict and prevent harmful drug interactions through tools such as the MRM Matrix®, which we are now able to offer hospitals, we have added two exceptional executives to our ranks. Together, we believe we can power the shift to precision prescribing, tailoring medication to meet individual needs and tolerances, which we believe will have a profound impact on safety, quality, and costs, such as medication-related increased hospital length-of-stay.”
Every year, over 2 million serious adverse drug events occur in hospitals in the United States alone, costing an estimated $177 billion – more than the total cost of cardiovascular or diabetic care across the entire United States.
Choosing the correct dose of high-risk parenteral medications, personalized for each patient, can be challenging because responses to drug therapy vary widely. DoseMe’s focus is on providing solutions for individualizing the dose of such medications to help healthcare professionals easily optimize therapy for each patient, resulting in improvements to mortality, risk and patient outcomes. Over 1,000 clinicians, across more than 100 locations world-wide, rely on DoseMeRx to optimize the dosing of high-risk medications for tens of thousands of patients. DoseMe services health-systems and infusion service centers throughout the United States, Europe, Asia Pacific, Africa and South America.
“We are excited to become a part of Tabula Rasa HealthCare,” said Mr. Cornish. “We believe, together, we will be able to more effectively combat the growing problem of adverse drug events, most of which can be prevented through better medication monitoring and dosing. We look forward to working with TRHC to provide clinicians with the tools they need to optimize medication therapy and improve patients’ quality of life.”
About Tabula Rasa HealthCare
TRHC (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. TRHC provides solutions for a range of payers, providers and other healthcare organizations. For more information, visit TRHC.com.
About DoseMeRx
DoseMeRx is a precision dosing software designed for healthcare practitioners that uses Bayesian dosing methods to predict the optimal dose of drugs monitored by Therapeutic Drug Monitoring. It is unique support software that leverages clinically validated pharmacokinetic drug models, patient characteristics, genotype (if available) and exact patient responses to the drug dosed (via drug concentrations) to guide dose optimization. Its simplicity and portability means Bayesian dosing benefits can be brought to every bedside.
