TherapeuticsMD to Divest its vitaCare Service
Mar 7, 2022 By MarketDepth
TherapeuticsMD, Inc. (NASDAQ: TXMD) announced today that it will divest its vitaCare Prescription Services business to GoodRx.
Shares Gained Premarket
Shares of TherapeuticsMD, Inc. (NASDAQ: TXMD) gained over 52% in premarket trading.
VitaCare is a technology and services platform that helps patients navigate key access and adherence barriers for brand medications.
All Cash Offer
Under the terms of the definitive agreement, the company is set to receive $150 million in cash with up to an additional $7 million in cash consideration contingent upon vitaCare’s financial performance through 2023.
“We are pleased to find a fitting home for vitaCare and are confident that GoodRx will expand on vitaCare’s track record of increasing patient access. This transaction will allow TherapeuticsMD to focus on our core women’s health business and mission of empowering women of all ages through better healthcare, while at the same time delivering value for our stakeholders.”Hugh O’Dowd, Chief Executive Officer of TherapeuticsMD
The transaction is expected to close in the second quarter of 2022.