TherapeuticsMD, Inc. (TXMD) stock soared 46.05% in the current-market trading session at the price of $0.30 after it signed a definite deal to divest its vitaCare business to GoodRx.
TXMD is a global healthcare firm that develops and commercializes products solely for females. The company’s products address the challenges faced by women during various phases of their lives with a focus on reproductive health, family planning, and menopause management.
TXMD Signed Deal to Divest vitaCare
On 7th March 2022, TXMD announced signing a definitive deal to divest its vitaCare business to GoodRx (GDRX), a digital-focused consumer healthcare forum. VitaCare provides technology and services that enable patients to navigate adherence barriers for brand medications.
As per the contract, TXMD will acquire cash of US$150M at the closure. It will also achieve an additional US$7M upon vitaCare’s economic performance by 2023. The deal is anticipated to close by the Q2 of 2022 and is subject to customary closing conditions. TherapeuticsMD will also join a long-term services deal to utilize the vitaCare platform. The company will present further details about the transaction on its upcoming earnings call at 8:30 A on 10th March 2022.
Chief executive officer of TXMD, Hugh O’Dowd, commented that they are delighted to discover a suitable partner for vitaCare. They are hopeful that GDRX will develop on vitaCare’s record of growing patient access. This definite deal will authorize TherapeuticsMD to concentrate on its core health business for women. The company’s vision is to empower ladies of all ages through a better healthcare system while creating value for the stakeholders.
TXMD Scheduled Q4 2021 Conference Call
Previously, on 1st March 2022, TXMD had scheduled to report its financial results for Q4 of 2021 on 10th March 2022, Thursday. The management will host a webcast and conference call to discuss results and present business highlights. A live webcast for the occasion will be available on the “Investors and Media” section of the TXMD official website.