Tabula Rasa HealthCare Acquires DoseMe to Advance Precision Dosing and Medication Safety

Recently, VCBeat (WeChat official account: vcbeat) learned from foreign media reports that Tabula Rasa HealthCare (“TRHC”), a healthcare technology company focused on advancing medication safety, has announced the acquisition of DoseMe, the world’s first company to design a precision dosing platform. Specific financial details were not disclosed.

Tabula Rasa HealthCare, formerly known as CareKinesis, was founded in 2010. TRHC (NASDAQ: TRHC) is a leader in providing patient-specific, data-driven technologies and solutions. The company’s solutions enable healthcare organizations to optimize medication regimens, thereby improving patient outcomes, reducing hospitalizations, lowering healthcare costs, and mitigating administrative risks. TRHC primarily provides solutions to payers, healthcare providers, and other medical institutions. The company went public on the NASDAQ in September 2016.

Image from the Tabula Rasa HealthCare official website

It is reported that in the United States alone, more than 2 million serious adverse drug events occur in hospitals each year, resulting in an estimated $177 billion in losses—a figure exceeding the total cost of cardiovascular and diabetes treatment in the country. However, selecting the appropriate medication and correct dosage for each patient can be challenging, as patients exhibit significant variability in their responses to pharmacological therapy.

Therefore, DoseMe has developed the DoseMeRx platform, a unique decision-support software and an advanced precision dosing tool that helps physicians and pharmacists accurately tailor high-risk parenteral medications to individual patient needs, thereby significantly improving mortality rates, risks, and patient outcomes.

DoseMeRx leverages clinically validated pharmacokinetic drug models, patient characteristics, drug concentrations, and genotypes to guide dose optimization. As the world’s first precision dosing tool designed for clinical practice, it employs Bayesian dose calculations to determine precise doses that achieve clinical targets. Its simplicity and portability ensure that the benefits of Bayesian dosing are accessible to every patient.

Image from the DoseMe official website

Currently, DoseMeRx is used by more than 100 hospitals and infusion providers worldwide. It works by creating a virtual model based on each patient’s specific pharmacokinetics, such as their ability to absorb, metabolize, distribute, and eliminate therapeutic drugs. The virtual patient model is built within seconds, after which DoseMeRx calculates precise, individualized doses to achieve therapeutic goals. Using this model, providers can also simulate the potential outcomes of different dosing regimens to ensure optimal recommendations for each patient.

Furthermore, DoseMeRx can be seamlessly integrated into major EHR platforms powered by SMART and FHIR technologies, helping healthcare providers save time, reduce adverse drug events, and improve patient outcomes.

DoseMe was founded in 2012 and has completed two rounds of financing since its inception. In July 2014, DoseMe initiated a seed funding round, raising a total of $500,000. In August 2016, DoseMe secured $2.6 million in Series A funding from two institutional investors.

TRHC expects to fund the acquisition through cash on hand, operating cash flow, and its existing credit facilities. Upon completion of the acquisition, DoseMe will become part of TRHC’s CareVention HealthCare (hereinafter referred to as “CareVention”) technology and services division. CareVention primarily provides advanced data analytics, integrated technology platforms, and consulting services. DoseMeRx’s precision dosing capabilities will be combined with TRHC’s proprietary Medication Risk Mitigation (MRM) technology to accelerate the development of medication safety solutions for hospital settings.

Calvin H. Knowlton, CEO of TRHC, stated, “DoseMe features state-of-the-art decision support tools. Combined with our ability to predict and prevent harmful drug interactions through solutions such as MRMMatrix, we can jointly advance precision prescribing and personalized medication tailored to individual needs and tolerability. This will have a profound impact on medication safety, quality, and cost.”

TRHC expects the acquisition to be completed in the first quarter of 2019, subject to customary closing conditions.