- Demand for Capital Rx’s enterprise health platform (EHP), JUDI®, and a fundamentally aligned PBM model drive 803% revenue growth
- Capital Rx ranks 25th in the tri-state area and 38th in the life sciences category nationally
NEW YORK, Nov. 8, 2023 /PRNewswire/ — Capital Rx, the full-service pharmacy benefit manager (PBM) and pharmacy benefit administrator (PBA) advancing our nation’s healthcare infrastructure to improve drug price visibility and patient outcomes, ranks No. 179 on the Deloitte Technology Fast 500™, which ranks the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America. Capital Rx’s 803% growth during the three-year evaluation period ranks No. 38 out of 87 life sciences companies on this year’s list.
Capital Rx’s co-founder and chief executive officer, A.J. Loiacono, credits demand for JUDI®, the company’s proprietary cloud-based EHP; a tech-enabled, aligned PBM solution; and world-class client and member support and service for Capital Rx’s continued success. Of the ranking, Loiacono shared, “I’m thankful to the team at Deloitte for this honor and grateful to our clients for placing their trust in us to provide them with mission-critical infrastructure to care for their Medicare, Medicaid, and commercial plan members. A modern, scalable platform is required to deliver on the promise of providing our country with better healthcare outcomes at a lower price point.”
“Each year, we look forward to reviewing the progress and innovations of our Technology Fast 500 winners. This year is especially celebratory as we expand the number of winners to better represent just how many companies are developing new ideas to progress our society and the world, especially during a slow economy,” said Paul Silverglate, vice chair, Deloitte LLP and U.S. technology sector leader. “While software and services and life sciences continue to dominate the top 10, we are encouraged to see other categories making their mark. Congratulations to all the winners who show us how creativity, hard work, and perseverance can lead to success.”
Capital Rx’s JUDI is a flexible, modular, and hyper-efficient pharmacy claims processing engine that exemplifies how innovation in health tech can bring down the cost of providing care to patients. By combining JUDI with a Single-Ledger Model™ that is fundamentally aligned with plan sponsors’ interests and allows for visibility and predictability around pharmacy program costs, Capital Rx can focus on exceeding expectations for client and member service levels and investing in R&D and JUDI’s capabilities.
“As for growing companies, it’s always rewarding to be recognized for the ongoing commitment it takes to navigate obstacles, transform when necessary, and ultimately create a thriving business,” said Christie Simons, partner, Deloitte & Touche LLP and industry leader for technology, media and telecommunications within Deloitte’s audit and assurance practice. “Over the nearly 30 years we’ve been compiling the Technology Fast 500, we’ve seen new categories emerge, growth rates explode, and certain regional markets shine from the bright talent they attract. We are proud of all the winners for achieving this well-deserved honor.”
About the 2023 Deloitte Technology Fast 500
Now in its 29th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2019 to 2022.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world’s most admired brands, including nearly 90% of the Fortune 500® and more than 8,500 U.S.-based private companies. At Deloitte, we strive to live our purpose of making an impact that matters by creating trust and confidence in a more equitable society. We leverage our unique blend of business acumen, command of technology, and strategic technology alliances to advise our clients across industries as they build their future. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. Bringing more than 175 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte’s approximately 457,000 people worldwide connect for impact at www.deloitte.com.
About Capital Rx
Capital Rx is a healthcare technology company advancing our nation’s electronic healthcare infrastructure to improve drug price visibility and patient outcomes. As a Certified B Corp™, the company is executing its mission through the deployment of JUDI®, Capital Rx’s cloud-native enterprise health platform, and an efficient Single-Ledger Model™, which increases visibility and reduces variability in drug prices. JUDI connects every aspect of the pharmacy ecosystem in one platform, servicing over 2.4 million members for Medicare, Medicaid, and commercial plans. Together with its clients, Capital Rx is reimagining the administration of pharmacy benefits and rebuilding trust in healthcare. To learn more, visit capitalrx.com.
Media Contacts – Capital Rx
Michael Passanante, SVP, Marketing & Communications
Justin Venneri, Director, Communications
SOURCE Capital Rx