TherapeuticsMD Shares Soars After VitaCare Divestiture In $150M Deal

TherapeuticsMD Inc TXMD has agreed to divest its VitaCare Prescription Services business to GoodRx Holdings Inc GDRX for $150 million.
VitaCare is a consumer-focused digital healthcare platform.
TherapeuticsMD will also receive an additional $7 million in cash consideration contingent upon vitaCare's financial performance through 2023.
TXMD will also enter into a long-term services agreement to continue to utilize the vitaCare platform.
The transaction is expected to close by Q2 of 2022.
VitaCare helps patients understand coverage, identify savings opportunities, and facilitate communication between providers and payors.
The platform also offers a seamless path for filling a prescription, primarily through its network of third-party pharmacies.
GoodRx expects the transaction to contribute under 1% to overall revenue and reduce the adjusted EBITDA margin by approximately 2% in 2022.
Price Action: TXMD shares are up 38% at $0.29, while GDRX shares are down 6.70% at $14.91 during the market session on the last check Monday.