Oscar Salazar, co-founder of Uber, and Walter Jin, founder of Carlyle Healthcare Group, have invested in Series-A funding round and joined the board of RxAdvance, a full service Pharmacy Benefits Management company.
Oscar Salazar is a co-founder of Pager, an innovative on-demand healthcare service that utilizes a mobile patient engagement platform to connect patients with the right type of care. Prior to Pager, Oscar was a founding partner and Chief Technology Officer of Uber.
“Our goal is to leverage disruptive technology and world-class design to reinvent healthcare and deliver cost savings and efficiencies," said Oscar and Walter.
“We are proud to join the RxAdvance board, as its accountable drug benefit management practice and risk-sharing business models are timely in this antiquated industry and are perfectly aligned with the healthcare investments in which we are involved.”
“In the recent years, several successful Silicon Valley entrepreneurs and blue chip companies have entered the healthcare vertical to disrupt and transform, in vain.
This lack of success can be attributed to the absence of substantial business and revenue models, disruptive service offerings, and a proven track record in the complex healthcare eco-system,” says John Sculley, former Apple CEO and Vice Chairman of RxAdvance."
“What impressed me about Ravi and his team at RxAdvance is that they have all the essential components for success - a widely proven and successful revenue model, a solid platform and innovative thinking, a proven track record, and deep healthcare domain expertise capable of disrupting traditional paradigms throughout the care continuum. Through its innovative Collaborative PBM Cloud™, RxAdvance is challenging large incumbent PBMs by disrupting their decades-old business and revenue models, and their risk-sharing models are unheard of in the PBM market.”
There is great synergy between RxAdvance and Pager. Both brands use world class technology and clinical resources to disrupt traditional healthcare delivery practices. Through their partnership, high quality healthcare services will be made more efficient, cost-effective, and convenient.
“We are honored to have two of the leading minds in disruptive technology and business as our investment partners and board members. We at RxAdvance feel that their high-tech experience and guidance will help to transform the $770 billion PBM and associated avoidable drug-impacted medical spend that is long overdue for innovation,” says Ravi Ika, President & CEO of RxAdvance.