Orlando, FL — July 10, 2023—Transaction Data Systems (TDS), a portfolio company of BlackRock Long Term Private Capital and GTCR, is pleased to announce the closing of the previously announced transaction with Cardinal Health (NYSE: CAH) to merge with Outcomes. This merger brings together a full suite of patient engagement, clinical and pharmacy workflow solutions to the nation’s largest network of retail, chain, and grocery pharmacies.
The company will assume the name Outcomes and fully rebrand by end of year. Jude Dieterman, Chief Executive Officer of TDS, will remain CEO of the combined organization. Brent Stutz, Outcomes’ general manager, will become President of the combined company. As part of the transaction, Cardinal Health will hold a minority stake in the company, and Cardinal Health’s Chief Executive Officer of its pharmaceutical segment, Debbie Weitzman, will join the company’s board of directors.
“TDS and Outcomes have been dedicated to improving the health of communities through pharmacy excellence for over a combined 45 years,” said Dieterman. “Together, we now have the ability to extend unique value-added solutions through our newly combined network and establish our reach as the largest provider in the pharmacy market bridging care connections with payers and pharma to improve health outcomes.”
The merger with Outcomes creates a broad, integrated offering of pharmacy workflow software serving the patient, pharmacy, payer and pharmaceutical company ecosystem. TDS’ existing portfolio of clinical pharmacy solutions, which includes such products as the Rx30 and Computer-Rx pharmacy management systems and PrescribeWellness, will complement Outcomes’ digital capabilities for medication therapy management, patient engagement, and financial insights. The combined company’s integrated capabilities will provide greater operational and workflow efficiency for pharmacy delivered care to its combined nationwide network of 48,000 retail, chain and grocery pharmacy locations.
“Both TDS and Outcomes have been centered on enhancing the pharmacy’s delivery of clinical care and enabling diversified revenue streams,” said Weitzman. “This is an exciting day for pharmacists looking to operate at the top of their license as trusted community healthcare providers.”
“Our mission is grounded in the power of pharmacy to improve patient care outcomes,” said Stutz, “Today’s closing will position Outcomes for further growth to continue to deliver on the patient experience by expanding our pharmacy footprint and providing richer opportunities to scale our payer and pharma connections.”
Simpson Thacher & Bartlett LLP served as legal adviser to TDS, while SVB Securities acted as financial adviser. Jones Day served as legal adviser to Cardinal Health.
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