none

UBER CO-FOUNDER INVESTS IN PHARMECUTICAL DISRUPTION

01-09-2016
by 
in 

 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.

Related news & editorials

  1. 16.10.2018
    16.10.2018
    by      In
    The Government has unveiled a $5 million scheme to encourage high-quality graduate engineers to work in Australia’s automotive sector. The Automotive Engineering Graduate Programme aims to increase the level of advanced engineering skills in the sector and is part of the $100 million Advanced... Read More
  2. 15.10.2018
    15.10.2018
    by      In
    Industry Update is delighted to announce that we are expanding our video offerings with a new series of tutorial style videos that perfectly complement our existing library of news style videos.
    In the first series, we are partnering with sensor specialist VEGA to publish eight playlists of videos... Read More
  3. 15.10.2018
    15.10.2018
    by      In
    Kennards Hire is certainly “doing its bit” to help Australia’s drought stricken farmers and their families. The work began with the Kennards branch network throwing itself behind the Buy a Bale initiative, and is now continuing with a key role in the Mega Farm Rescue.
    Kennards Hire team members... Read More
  4. 15.10.2018
    15.10.2018
    by      In
    The Adelaide Convention Centre is set to host some of the world’s leading researchers and practitioners in the field of corrosion prevention and management. Corrosion & Prevention 2018 will run from 11th to 14th November, combing a high-quality technical programme with a 60-plus exhibitor trade... Read More