Tabula Rasa HealthCare adjusts to private ownership, shares trade quietly on NASDAQ

Tabula Rasa HealthCare is now fully owned by Nautic Partners and left public markets in early 2024. The former NASDAQ-listed medication management specialist continues to operate as a private company in the U.S. healthcare IT space.

By Daniel Hoffmann, Chart & Technicals desk. Reviewed prior to publication on 2026-06-25, 14:42.

Tabula Rasa HealthCare (US89400K1088) no longer trades as a public stock after its acquisition by Nautic Partners in 2024. The former NASDAQ-listed healthcare IT provider had focused on medication risk management and pharmacy services in the United States before going private, and historic trading data remain relevant for investors reviewing past sector valuations.

From NASDAQ listing to buyout

Tabula Rasa HealthCare, previously listed on NASDAQ under the ticker TRHC, agreed in 2023 to be acquired by private equity firm Nautic Partners in an all-cash transaction that closed in 2024 according to company announcements. The deal ended the companys tenure on the NASDAQ exchange, where it had been part of the broader U.S. healthcare technology peer group that includes players such as Omnicell and Cerner.

The takeover followed several years of strategic repositioning, during which Tabula Rasa HealthCare focused on its core medication risk management and pharmacy solutions. The transaction structure typically provided existing shareholders with a fixed cash consideration per share at closing, while future value creation shifted to the private owners. For analysts, the delisting removed TRHC from standard equity-screening universes but left its operating model as a reference point in healthcare IT.

Why historic TRHC pricing still matters

Although Tabula Rasa HealthCare shares are no longer quoted on NASDAQ, historic price series and valuation metrics remain part of institutional databases that track U.S. healthcare IT multiples. Portfolio managers and risk teams often use such delisted names to backtest strategies, calibrate factor exposures, and analyze sector drawdowns over past market cycles.

For example, the path of TRHCs valuation from its initial growth phase to the eventual private equity takeout can be compared with other healthcare software and services names that faced margin pressure, reimbursement complexity, and rising technology investment needs. Such comparisons help frame how private equity buyers price recurring-revenue platforms versus the public markets, especially in segments tied to Medicare and pharmacy benefits.

What the company sells today

Tabula Rasa HealthCare continues to focus on medication risk management technology and pharmacy services for healthcare organizations. Its platforms support clinicians and pharmacists in identifying potential adverse drug events and optimizing complex medication regimens, particularly for older and medically fragile patient populations in the United States.

Listing status in brief

Tabula Rasa HealthCare does not currently have an actively traded listing on NASDAQ or another major exchange, following the completion of its acquisition by Nautic Partners and subsequent delisting in 2024.