Rx Savings Solutions, an Overland Park, Kan.-based provider of a pharmacy transparency solution, secured $18.4m in funding.
The round was led by McCarthy Capital. In conjunction with the funding, Brian Zaversnik, Vice President of McCarthy Capital, will join the Rx Savings Board of Directors.
The company intends to use the funds to expand sales and marketing efforts and invest in additional software functionality.
Led by Michael Rea, pharmacist, founder and CEO, Rx Savings Solutions offers a HIPAA security compliant patented engagement software system that enables employers and employees to purchase prescription drugs. Using its clinical backgrounds, the company delivers proactive personalized recommendations on ways to optimize therapies to members, while achieving savings for employers, employees and health plans.
Rx Savings Solutions serves self-insured businesses, employer groups, health plans and their members nationwide.
Clients include Blue Cross and Blue Shield of Kansas City, Quest Diagnostics, Berkshire Hathaway Media Group, the State of Kansas Employee Health Plan, Teachers Health Trust, West Virginia Public Employees Insurance Agency and American Century Investments, among others.