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Posted 13 April, 2023

Tabula Rasa HealthCare, Inc. appointed Brian W. Adams as new CEO

Nasdaq:TRHC appointed new Chief Executive Officer Brian W. Adams in a 8-K filed on 13 April, 2023.


  On April 13, 2023, the Company announced that the Board of Directors of the Company (the "Board") has appointed Brian W. Adams, the Company's current President and Interim Chief Executive Officer, as the Company's Chief Executive Officer, and as a Class I member of the Board, upon approving an increase in the size of the Board from nine to ten members (the "Appointments").  

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Overview of Tabula Rasa HealthCare, Inc.
Business/Consumer Services • Computer Services
Tabula Rasa Healthcare, Inc. is a healthcare technology company, which engages in the development of solutions designed for pharmacists, providers, and patients to optimize medication regimens. It operates through the following segments: CareVention HealthCare and MedWise HealthCare. The CareVention HealthCare segment provides services, PACE, which is a center for Medicare & Medicaid services, or CMS, sponsored program providing medical and social services. Its brands include CareKinesis, Capstone Risk Adjustment Services, PACElogic, TruChart, PeakTPA, PersonifilRx, and Pharmastar. The MedWise HealthCare segment provides Medication Therapy Management, or MTM, software and services for Medicare, Medicaid, and commercial health plans, and also provides a cloud-based patient engagement software and services. It offers cloud-based software and clinical pharmacist services through its brands, including MedWise, SinfoníaRx, RxCompanion, PrescribeWellness, and DoseMeRx. The company was founded by Calvin H. Knowlton, Orsula V. Knowlton, and Michael Greenhalgh in April 2009 and is headquartered in Moorestown, NJ.
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Tabula Rasa HealthCare, Inc. by TradingView
Relevant filing section
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


On April 13, 2023, the Company announced that the Board of Directors of the Company (the "Board") has appointed Brian W. Adams, the Company's current President and Interim Chief Executive Officer, as the Company's Chief Executive Officer, and as a Class I member of the Board, upon approving an increase in the size of the Board from nine to ten members (the "Appointments"). The Appointments were effective as of April 13, 2023.


Mr. Adams, 42, has served as the Company's Interim Chief Executive Officer since September 13, 2022. Mr. Adams' biographical information (as required by Item 401(b) of Regulation S-K) and business experience (as required by Item 401(e) of Regulation S-K) was previously disclosed under Item 5.02 of the Current Report on Form 8-K and Amendment No. 1 on Form 8-K/A filed by the Company with the Securities and Exchange Commission on November 12, 2021 and December 17, 2021, respectively, and is incorporated herein by reference. As previously disclosed, there are no family relationships between Mr. Adams and any director or executive officer of the Company, and the Company has not entered into any transactions with Mr. Adams that are reportable pursuant to Item 404(a) of Regulation S-K. There are no arrangements or understandings between Mr. Adams and any other persons pursuant to which he was selected as the Company's Chief Executive Officer.


In connection with the Appointments and retroactively effective as of April 1, 2023, the Compensation Committee of the Board (the "Committee") approved an increase to Mr. Adams' annual base salary from $450,000 to $500,000, and an increase in his target bonus under the Company's Annual Incentive Plan from 75% to 100% of his annual base salary (collectively, the "Compensation Changes").


The Committee will consider certain changes to Mr. Adams' existing Change-in-Control and Severance Agreement, dated as of January 1, 2018 (the "CIC Agreement"), in addition to the above noted Compensation Changes. Changes or amendments to the CIC Agreement in connection with the Appointments have not yet been determined. In accordance with Instruction 2 to Item 5.02 of Form 8-K, the Company intends to file an amendment to this Current Report on Form 8-K if and when such information is available.