Tabula Rasa HealthCare, Inc.

Good day, and thank you for standing by. Welcome to the second quarter 2021 Tabula Rasa Healthcare, Inc. Earnings Conference Call. Please be advised that today's conference is being recorded. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during that session, you will need to press star 1 on your telephone. If you require any further assistance, please press star 0. It is my pleasure to hand the conference over to Kevin Dill. Please go ahead.

Thank you and good morning. I'm Kevin Dill, Corporate Counsel for Tabula Rasa Healthcare. The company intends to avail itself of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Certain statements made during this call will be forward-looking statements within the meaning of that law. These forward-looking statements are subject to risks uncertainties, and other factors that could cause Tabula Rasa Healthcare's actual results to differ materially from those expressed or implied by the forward-looking statements. These risks and uncertainties include the developing nature of the market for technology-enabled healthcare products and services and potential changes to laws and regulations that may impact our clients. For additional information on the risks facing Tabula Rasa Healthcare, please refer to our filings with the SEC, including the risk factors section of our 10-K filed on February 26, 2021. A recording of this call is accessible through a link on the investor relations page of our website, and it will be available for 90 days. I'll turn the call over to Dr. Calvin Knowlton, CEO, chairman and founder of Tabula Rasa Healthcare.

Thank you. Greetings and thank you all for joining our call today. I would like to start with some perspective on our company as we approach the five-year anniversary of our IPO in October. In our first year as a public company in 2016, we generated $94 million in revenue, largely derived from a relatively small but growing pace market. Five years later, we are on track to increase revenue by more than three and a half times. Since our IPO, even with the COVID headwinds that slowed our growth, the TRHC CAGR over these five years is 29%. This occurred through a combination of strong organic growth supplemented by strategic acquisitions. These tailwinds broadened our offerings and footprint in our core pace market which as we discussed during our first quarter earnings call, is garnering a great deal of attention from state and federal lawmakers to increase funding and access. This attention also exponentially increases our total addressable market by serving health plans and community pharmacies through our MedWise segment. The continued strong recovery and pace and our CareVention Healthcare segment led our second quarter revenue and profitability to be at the high end of our guidance range. As we enter the remaining months of 2021, we are encouraged by the improving trends in our CareVention healthcare segment, with PACE enrollment returning to pre-pandemic levels in recent months and all of our key metrics moving in a positive direction. Within CareVention, Our year-over-year organic growth improved to 13% during the second quarter versus 6% during the first quarter of 2021. Turning to our MedWise segment, our number one objective is re-accelerating revenue growth, and we are making progress on this front and expect to return to positive year-over-year growth in both the third and fourth quarter of 2021. This improvement, along with the strong recovery and pace, is driving our return to double-digit organic growth in the second half of 2021, as highlighted on slide three. In early July, we announced the hiring of Kelly Kovach to lead our integrated MedWise business. Ms. Kovach has a wide range of C-level experience in the payer, PBM, pharmacy, and pharma world, most recently at UnitedHealthcare Group, making her an ideal candidate to lead our MedWise segment. We are excited about the positive impact she has had already and will have in the coming quarters and years as she settles into her new role at TRHC. We will make sure that investors have an opportunity to engage with her in the near future. The integration of our unique simultaneous multi-drug interaction science across all our MedWise solutions is leading to important new wins across a diverse base of clients. Kevin Bosen will expand on this later, but in short, our sales team is delivering bookings with exponential growth in our MedWise payer segment as compared to a year ago. I am now going to turn it over to Ursula, who is going to talk about a number of industry developments, including the important role that pharmacists are playing in the broader healthcare ecosystem, which will benefit TRHC and our MedWise segment specifically for years to come. Ursula?