Transaction Data Systems and Outcomes™ Merge to Create a Powerful Pharmacy Network

ORLANDO, Fla.-- Transaction Data Systems (TDS), a portfolio company of BlackRock Long Term Private Capital and GTCR, has announced the successful completion of its merger with Outcomes. This merger brings together a comprehensive suite of patient engagement, clinical, and pharmacy workflow solutions to the nation's largest network of retail, chain, and grocery pharmacies.

The newly merged company will assume the name Outcomes and undergo a complete rebranding by the end of the year. Jude Dieterman, the Chief Executive Officer of TDS, will continue to serve as CEO of the combined organization. Brent Stutz, Outcomes' general manager, will take on the role of President. As part of the transaction, Cardinal Health will hold a minority stake in the company, and Debbie Weitzman, Cardinal Health's Chief Executive Officer of its pharmaceutical segment, will join the company's board of directors.

"By joining forces, TDS and Outcomes can extend unique value-added solutions through our combined network and establish ourselves as the largest provider in the pharmacy market," said Dieterman. "We are bridging care connections with payers and pharma to improve health outcomes."

The merger with Outcomes creates a comprehensive, integrated offering of pharmacy workflow software that serves the patient, pharmacy, payer, and pharmaceutical company ecosystem. TDS' existing portfolio of clinical pharmacy solutions, including products like the Rx30 and Computer-Rx pharmacy management systems and PrescribeWellness, will complement Outcomes' digital capabilities for medication therapy management, patient engagement, and financial insights. The combined company's integrated capabilities will significantly enhance operational and workflow efficiency for pharmacy-delivered care to its nationwide network of 48,000 retail, chain, and grocery pharmacy locations.

Both TDS and Outcomes have been dedicated to enhancing the pharmacy's delivery of clinical care and enabling diversified revenue streams. "This is an exciting day for pharmacists looking to operate at the top of their license as trusted community healthcare providers," said Weitzman.

Outcomes' mission is grounded in the power of pharmacy to improve patient care outcomes. "Today's closing will position Outcomes for further growth," said Stutz. "We are committed to expanding our pharmacy footprint and providing richer opportunities to scale our payer and pharma connections."

The transaction was advised by Simpson Thacher & Bartlett LLP as legal adviser to TDS and SVB Securities as financial adviser. Jones Day acted as legal adviser to Cardinal Health.

About Transaction Data Systems

For over 45 years, TDS has been dedicated to the success of the pharmacy market and pharmacy supply chain. With its portfolio of products and services, including Rx30, Computer-Rx, and PrescribeWellness, TDS provides innovative patient-centric technology solutions and pharmacy management systems to the pharmacy industry. TDS proudly supports one of the largest install bases of independent pharmacies in the industry, with systems in all 50 states and the Virgin Islands. TDS is a leading provider of pharmacy-focused, patient-centric solutions.

About Outcomes

Outcomes™ drives better health outcomes by uniting technology and clinical relationships through a connected healthcare network. Outcomes brings together pharmacies, payers, and pharmaceutical manufacturers to collectively reduce the total cost of care, drive positive patient behavior change, and streamline workflows for pharmacy.

About BlackRock LTPC

BlackRock LTPC is an innovative private equity strategy focused on investing in high-quality businesses and value creation through active collaboration with management teams. LTPC's team of professionals, based in New York and London, invests across North America and Western Europe. LTPC is backed by BlackRock, Inc., which manages $320 billion in alternative investments and commitments on behalf of clients worldwide.

About GTCR

GTCR is a leading private equity firm that partners with management leaders in core domains to identify, acquire, and build market-leading companies. With a focus on transformative growth in various sectors, GTCR has invested in over 270 companies, managing more than $35 billion in equity capital.

About Cardinal Health

Cardinal Health is a distributor of pharmaceuticals, a global manufacturer and distributor of medical and laboratory products, and a provider of performance and data solutions for healthcare facilities. With operations in 30 countries and approximately 46,500 employees globally, Cardinal Health plays an essential role in healthcare.

In conclusion, the merger between Transaction Data Systems and Outcomes will create a powerful pharmacy network that aims to improve patient care outcomes and streamline workflows for pharmacy. With a suite of integrated solutions and a nationwide network of retail, chain, and grocery pharmacies, the combined company is well-positioned to drive positive change in the healthcare industry.