Co-Founder of Uber Bets on RxAdvance, a Game-Changing PBM Cloud, as It Disrupts Decades-Old Business and Financial Models

Walter is a graduate

of Harvard University and currently serves as an Executive in Residence

at Johns Hopkins Medicine and an Innovation Fellows Technical Advisor to

the U.S. Through its innovative Collaborative PBM Cloud(TM),

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.” John concludes, “I believe this model

will pave the path for new entrants from Silicon Valley. Walter currently serves as the Executive Chairman of Pager and

has over 20 years of investment and operational experience in the

healthcare sector. John

continues, “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. 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.

“In the recent years, several successful Silicon Valley entrepreneurs

and blue chip companies have entered the healthcare vertical to disrupt

and transform, in vain.

“We are honored to have two of the leading minds in disruptive

technology and business as our investment partners and board members. “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.”

There is great synergy between RxAdvance and Pager. Both brands use

world class technology and clinical resources to disrupt traditional

healthcare delivery practices. 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. In addition, RxAdvance offers a global pharmacy risk

partnership model standing shoulder-to-shoulder with plan sponsors. Our

tailored, world-class services are for all plan sponsors — health plans,

accountable care organizations (ACOs), exchanges, state Medicaid

programs, and employer groups. We provide contractually guaranteed

savings in administrative costs, ingredient unit costs, and rebate

revenues. Through their partnership, high quality

healthcare services will be made more efficient, cost-effective, and



a full service Pharmacy Benefits Management company, announced Oscar

Salazar, co-founder of Uber, and Walter Jin, founder of Carlyle

Healthcare Group, have invested in Series-A funding round and join the

RxAdvance board.

Walter Jin was the co-founder of The m88 Healthcare Group at The Carlyle

Group. Walter is the co-founder of Three Fields Capital and

Pacific Healthcare Management, which manage a portfolio of private

equity and venture capital healthcare investments. Department of Health and Human Services.

About RxAdvance

RxAdvance is a national full-service

pharmacy benefit manager that leverages Collaborative PBM Cloud(TM)

to deliver integrated PBM services that reduce overall pharmacy costs,

optimize specialty spend by converting from “buy and bill” to “manage

and authorize”, and reduce avoidable drug-impacted medical costs while

improving patient’s quality of life with unmatched regulatory compliance

and transparency. 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. 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. Oscar and

Walter’s participation is a great testament to the proven model

established by RxAdvance.”

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