RxAdvance, a Southborough, MA-based full service Pharmacy Benefits Management company, received a Series A funding round.
Backers included Oscar Salazar, co-founder of Uber, and Walter Jin, founder of Carlyle Healthcare Group. They both joined the company’s board.
Led by Ravi Ika, President & CEO, RxAdvance is a national full-service pharmacy benefit manager that leverages a collaborative cloud platform to deliver integrated Pharmacy Benefits Management (PBM) services that reduce overall pharmacy costs, optimize specialty spend and reduce avoidable drug-impacted medical costs. In addition, the company offers a global pharmacy risk partnership model standing with plan sponsors, health plans, accountable care organizations (ACOs), exchanges, state Medicaid programs, and employer groups.