Tabula Rasa’s Acquisition by Nautic

On August 7, 2023, Tabula Rasa HealthCare, Inc.® (“Tabula Rasa”), a leading healthcare company advancing personalized, comprehensive care for value‑based care organizations, announced it has entered into a definitive agreement to be acquired by Nautic Partners (“Nautic”) for $10.50 in cash per share and will combine with ExactCare Pharmacy, a portfolio company of Nautic. The all‑cash transaction values Tabula Rasa at approximately $570 million, including net debt of approximately $262 million, on an enterprise value basis. Cravath is representing Tabula Rasa in connection with the transaction.

The Cravath team is led by partner Robert I. Townsend III and includes associates Edward O. Minturn, Harold C. King, Patricia L. Menges and Trevor H. O’Bryan on M&A matters; partners Andrew J. Pitts, C. Daniel Haaren and Christopher J. Kelly and associate Obianuju A. Enworom on financing matters; associate Jamie H. Lee on tax matters; partner Eric W. Hilfers, senior attorney Aaron S. Cha and practice area attorney Courtnii Lamar on executive compensation and benefits matters; partner Sasha Rosenthal‑Larrea and associates Kathryn‑Ann Stamm, Ryan J. Wichtowski and William Council on intellectual property matters; partner Margaret T. Segall and of counsel Jesse M. Weiss on regulatory matters; partner Matthew Morreale on environmental matters; and practice area attorneys Brian M. Budnick and Lauren Piechocki on real estate matters. Sarah R. Brathwaite also worked on intellectual property matters.