Capital Rx Achieves Place on the Deloitte Technology Fast 500™ for Third Year in a Row
- 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.
“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of our outsized success is JUDI®, our award-winning Enterprise Health Platform (EHP) that is vastly superior to the outdated, inflexible, and inefficient systems used by our competitors.”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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