Capital Rx’s JUDI™ Enterprise Pharmacy Platform modernizes prescription and healthcare infrastructure to power the 21st century of care delivery
Ranked the fastest growing health technology company in America by Inc. 5000, Capital Rx has seen exponential year-over-year growth (2020: 400%; 2021: 200%)
Capital Rx will continue to invest in the technology backbone for claims processing and benefit administration, delivering a high-touch customer service experience, unparalleled operational efficiency, and advancement in clinical management with improved health outcomes
Capital Rx, a health technology company changing the way prescription drugs are priced and patients are serviced, announced the close of its $106M Series C funding led by B Capital, with participation from General Catalyst and existing investors, Transformation Capital and Edison Partners. With the closing, Capital Rx increases overall funding to $175M and welcomes Dr. Robert Mittendorff, General Partner and Head of Healthcare at B Capital, to the Company’s Board of Directors. B Capital Principal Nick Whitehead and Holly Maloney, Managing Director at General Catalyst, will join as board observers.
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Capital Rx has spent several years building and commercializing JUDI™, the healthcare industry’s first Enterprise Pharmacy Platform. By unifying all operations into a single platform – plan build, implementation, claims adjudication, data exchange, prior authorization, client reporting, billing/reimbursement, member tools and more – JUDI™ delivers on the promise of improved care for patients and unrivaled operational efficiency for health plans, TPAs, PBMs, health systems, and prescribers. JUDI™ is built to be the future infrastructure of healthcare, driving administrative cost down while improving the patient experience. Leveraging modern architecture that collapses the silos of information between healthcare stakeholders, the platform improves pharmacy network management tools and allows for faster implementations of more highly customizable benefit designs to support the next generation of value-based contracts. In addition, as a cloud-based, serverless platform built on an open API architecture, JUDI™ delivers unlimited scale and ease of integration.
“Capital Rx has the clearest vision we’ve seen in the market for how to transform the infrastructure of healthcare to enable better care at a lower cost,” said Dr. Robert Mittendorff, General Partner at B Capital. “AJ and team have made incredible progress in modernizing and unifying the operating platform for prescription drug pricing and delivery, showing industry partners, employers, and American consumers that a new level of care delivery and patient experience is possible for prescription drug access and pricing.”
Nick Whitehead continues, “Our thematic work in the PBM space has confirmed that Capital Rx has the most advanced tech stack and solution to power next generation PBMs.”
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JUDI™ was built to service the full market enterprise: all members and all products, including commercial, Medicare, and Medicaid lines of business. JUDI™ ensures that even the most complex prescription drug plans are flawlessly implemented in a fraction of the time compared to legacy systems. The blend of a more efficient operating platform and NADAC-based pricing allows Capital Rx customers to save an average of 27% on their prescription drug spend, while also earning the company an industry-leading 96 Net Promoter Score.
“Our country cannot continue to operate on disparate and antiquated technology, and our goal is to provide our nation the infrastructure it needs for the healthcare system we deserve,” said AJ Loiacono, CEO of Capital Rx. “We’re thrilled to partner with B Capital and General Catalyst as we accelerate the adoption of JUDI™ and establish a new standard for claim administration.”
Capital Rx’s Series C round follows a year of record growth to date, highlighted by new customers WTW, the world’s largest pharmacy benefits purchasing coalition, and CDPHP, a major New York state health plan. Customer retention rate is a remarkable 99.5%, and Capital Rx’s consumer membership grew 200% over the previous year, on track to add over 1 million new lives for the 2023 plan year.
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