BOCA RATON, Fla.–(BUSINESS WIRE)–TherapeuticsMD, Inc. (NASDAQ: TXMD), an innovative, leading women’s healthcare company, today announced that it has entered into a definitive agreement to divest its vitaCare Prescription Services (vitaCare) business to GoodRx (Nasdaq: GDRX), a consumer-focused digital healthcare platform. VitaCare is a technology and services platform that helps patients navigate key access and adherence barriers for brand medications.
Under the terms of the agreement, TXMD will receive $150 million in cash at closing, subject to customary adjustments, with up to an additional $7 million in cash consideration contingent upon vitaCare’s financial performance through 2023. The transaction is expected to close in the second quarter of 2022, subject to the satisfaction of customary closing conditions. TXMD will also enter into a long-term services agreement with vitaCare to continue to utilize the vitaCare platform.
“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,” said Hugh O’Dowd, Chief Executive Officer of TherapeuticsMD. “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.”
TherapeuticsMD will further discuss this transaction and take questions on its upcoming earnings call scheduled for March 10, 2022 at 8:30 AM ET.
Advisors
Locust Walk served as financial advisor and DLA Piper LLP (US) served as legal counsel to TherapeuticsMD.
About TherapeuticsMD, Inc.
TherapeuticsMD, Inc. is an innovative, leading healthcare company, focused on developing and commercializing novel products exclusively for women. TherapeuticsMD’s products are designed to address the unique changes and challenges women experience through the various stages of their lives with a therapeutic focus in family planning, reproductive health, and menopause management. TherapeuticsMD is committed to advancing the health of women and championing awareness of their healthcare issues. To learn more about TherapeuticsMD, please visit therapeuticsmd.com or follow us on Twitter: @TherapeuticsMD and on Facebook: TherapeuticsMD.
