Tabula Rasa HealthCare, which provides risk management solutions to reduce adverse drug events (ADEs) at long-term care facilities, announced terms for its IPO on Monday.
The Moorestown, NJ-based company plans to raise $60 million by offering 4.3 million shares at a price range of $13 to $15. At the midpoint of the proposed range, Tabula Rasa HealthCare would command a fully diluted market value of $251 million.
Tabula Rasa HealthCare was founded in 2011 and booked $80 million in sales for the 12 months ended June 30, 2016. It plans to list on the Nasdaq under the symbol TRHC. Wells Fargo Securities, UBS Investment Bank and Piper Jaffray are the joint bookrunners on the deal. It is expected to price during the week of September 26, 2016.
