MOORESTOWN, N.J. — Tabula Rasa HealthCare, Inc.® (TRHC) (NASDAQ: TRHC), a leading healthcare technology company advancing the safe use of medications, today announced that co-founders Dr. Calvin H. Knowlton, BScPharm, MDiv, PhD, ScD (hon), Chief Executive Officer and Board Chairman, and Dr. Orsula V. Knowlton, PharmD, MBA, Co-President and Chief Marketing and New Business Development Officer, will retire from TRHC and step down as members of the Board of Directors, effective immediately. Director Michael Purcell has been named Independent Chair of the Board. Brian Adams, TRHC's Co-President, will serve as interim CEO while the Board executes a comprehensive process to identify a permanent successor. To support a seamless transition, the Knowltons have signed consulting agreements with TRHC through the end of the year.
Michael Purcell said, "On behalf of the Company, I extend my sincerest thanks to the Knowltons for their dedication and leadership throughout the last thirteen years. The Knowltons have helped establish a strong foundation for the Company, and with our team of proven senior executives in place, I am highly confident in the future of Tabula Rasa. Brian is the right choice for interim CEO, and under his leadership we will continue to capitalize on growth opportunities and enhance our unique position in the market to deliver long-term, sustainable value."
Brian Adams said, "Tabula Rasa has built a reputation as a leader in the value-based care market and I'd like to thank the Knowltons for their contributions to these efforts. Our business has strong momentum with a robust pipeline for continued growth as more health plans and at-risk providers rely on our innovative pharmacy services, medication risk management technology and business solutions. I am energized about our path forward as we continue to make clear progress on our strategy to position TRHC for profitable growth and long-term value for our stockholders."
Dr. Calvin Knowlton said, "We are proud to have made a meaningful difference to support medication safety through our services and solutions, and I believe TRHC is well positioned to build on its strong momentum under new leadership in this next exciting chapter. I am thankful for our community partners, business partners, Board of Directors, and stockholders for their trust and support through the years."
Dr. Orsula Knowlton said, "We are grateful to have been able to positively impact the lives of so many patients, team members, and clinicians. I look forward to watching TRHC continue to thrive as it fulfills its mission to facilitate the safe use of medication."
