- Capital Rx ranks #147 on the 2024 Deloitte Fast 500, the
list of North America's
fastest-growing companies
NEW
YORK, Nov. 21, 2024 /PRNewswire/ -- Capital
Rx, the full-service pharmacy benefit manager (PBM) and pharmacy
benefit administrator (PBA) advancing our nation's electronic
healthcare infrastructure ranked on the 2024 Deloitte
Technology Fast 500™, a ranking of the 500 fastest-growing
technology, media, telecommunications, life sciences, fintech, and
energy tech companies in North
America, now in its 30th year.
Capital Rx's record growth continues as
demand for JUDI® and its fully aligned pharmacy benefit solutions
accelerates.
"Being listed on the Deloitte Fast 500 for the third year in a
row is a testament to our team's relentless drive, our technology's
peerless capabilities, and the market's accelerating demand for an
independent and transparent company, with the experience and
capability to service employers and health plans of any size," said
co-founder & CEO, AJ Loiacono. "At the heart of our
outsized success is JUDI®, our award-winning Enterprise
Health Platform (EHP) that is vastly superior to the outdated,
inflexible, and inefficient systems used by our competitors."
JUDI, a proprietary EHP built by Capital Rx, consolidates all
pharmacy benefit services for commercial, Medicare, and Medicaid
plans in a single open, scalable platform. JUDI is a true
enterprise solution, offering the scale and security required for
large payers and seamless integration of administrative workflows
and departments. By operating all services through a single source
of truth, clients can leverage optimization, automation, and AI
training to reduce administrative overhead and improve patient
outcomes.
"All successful companies are powered by software in the
21st century," said co-founder & CTO,
Ryan Kelly. "The underinvestment
in claim administration infrastructure reflects the PBM industry's
decades-long focus on consolidation over innovation, leaving a
generational gap in technology that is being filled by JUDI and the
Capital Rx team."
Capital Rx debuted on the Deloitte Technology Fast 500 award
list at #15 in 2022 and ranked #179 in 2023.
"For 30 years we've been celebrating companies that are actively
driving innovation. The software industry continues to be a beacon
of growth, and the fintech industry made a strong showing on this
year's list, surpassing life sciences for the first time," said
Steve Fineberg, vice chair, U.S.
technology sector leader, Deloitte. "Significantly, we also saw a
breakthrough in performance of private companies, with the highest
number of private companies named to the list in our program's
history. This year's winners have shown they have the vision and
expertise to continue to perform at a high level, and that deserves
to be celebrated."
"Innovation, transformation and disruption of the status quo are
at the forefront for this year's Technology Fast 500 list, and
there's no better way to celebrate 30 years of program history,"
said Christie Simons, partner,
Deloitte & Touche LLP and industry leader for technology, media
and telecommunications within Deloitte's Audit & Assurance
practice. "This year's winning companies have demonstrated a
continuous commitment to growth and remarkable consistency in
driving forward progress. We extend our congratulations to all of
this year's winners — it's an incredible time for innovation."
Overall, 2024 Technology Fast 500 companies achieved revenue
growth ranging from 201% to 153,625% over the three-year time
frame, with an average growth rate of 1,981% and median growth rate
of 460%.
About the 2024 Deloitte Technology Fast 500
Now in its
30th 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 2020 to 2023. 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.
About Deloitte
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
460,000 people worldwide connect for impact at
www.deloitte.com.
About Capital Rx
Capital Rx is a full-service pharmacy
benefit manager (PBM) and pharmacy benefit administrator (PBA),
advancing our nation's electronic healthcare infrastructure to
improve drug price visibility and patient outcomes. As a Certified
B Corp™, Capital Rx is executing its mission through the deployment
of JUDI®, the company's cloud-native enterprise health
platform, and a Single-Ledger Model™, which increases visibility
and reduces variability in drug prices. JUDI connects every aspect
of the pharmacy ecosystem in one efficient, scalable platform,
servicing tens-of-millions of 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 www.cap-rx.com.
Media Contacts
Mike
Passanante, SVP, Marketing & Communications
Justin Venneri, Director,
Communications
marketing@cap-rx.com
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