Prime Therapeutics and Capital Rx Enter Into Transformative Strategic Alliance

Strategic alliance allows Prime to offer exclusive access to Capital Rx's leading technology platform to achieve a higher standard of care, increase efficiency, improve experiences and provide the foundation for the next generation of integrated pharmacy care for the more than 50 million Americans served by Prime

EAGAN, Minn. and NEW YORK, March 13, 2024 /PRNewswire/ -- Today, Prime Therapeutics LLC/Magellan Rx Management, LLC (Prime), a leading pharmacy solutions organization, and Capital Rx, Inc. (Capital Rx), a renowned health care technology solutions provider, are announcing a strategic alliance. This alliance will provide Prime with exclusive access to Capital Rx's advanced technology platform and software development expertise. This benefits clients by augmenting Prime's scale, deep financial management, clinical expertise and member centric, transparent philosophy.

This collaboration marks a significant milestone in the companies' respective journeys to reimagine pharmacy and deliver a better health care experience to patients by utilizing JUDI®, Capital Rx's innovative enterprise health platform. As part of the strategic alliance, Prime has become a minority investor in Capital Rx.

"It is imperative for our industry to modernize our technology for the benefit of clients and patients. We evaluated several other platforms and quickly recognized that JUDI represents a new industry standard. This move will enable us to accelerate our pace of innovation while enhancing our core capabilities and ensuring state-of-the-art security. Our ability to utilize JUDI in combination with Prime's core strengths makes me more confident than ever that Prime will set a new standard for pharmacy solutions," said Mostafa Kamal, president and CEO, Prime. 

"We are thrilled to enter into this alliance with Prime to enable their mission to reimagine pharmacy management and address the cost and service needs of the health care industry," said AJ Loiacono, co-founder and CEO of Capital Rx. "By combining Prime's industry expertise with our modern technology solutions, we are optimistic that the future of care in America will be redefined. This alliance will allow JUDI to operate at the scale it was designed to achieve and support the servicing of tens of millions of members." 

Accelerating the Pace of Innovation in Health Care 
The health care landscape is evolving at an unprecedented pace, and organizations must adapt and innovate to stay ahead. JUDI is a cloud-native enterprise pharmacy platform that unifies all PBM operations onto a single platform. Prime is taking a bold approach to revolutionize the industry, and JUDI will play a key role in enabling this vision. The strategic alliance between Prime and Capital Rx positions both companies for accelerated growth and success in their respective businesses and demonstrates a shared commitment to transform the delivery of health care services through cutting-edge technology. 

"Most PBMs are running on 30-year-old technology. We're leading the change through this strategic alliance, which will propel Prime forward as the nation's pharmacy solutions partner of choice by delivering intelligently designed experiences that simplify health care," said Matthew Mertel, senior vice president, chief operating officer, Prime. "Our exclusive access to Capital Rx's transformative technology and cutting-edge software solutions aligns seamlessly with our organization's purpose, vision and unique requirements."

About Prime Therapeutics + Magellan Rx
Prime Therapeutics LLC (Prime) is a diversified pharmacy solutions organization serving health plans, employers and government programs. Prime is collectively owned by 19 Blue Cross and Blue Shield Plans, subsidiaries or affiliates of those plans. Magellan Rx Management LLC, a Prime Therapeutics LLC Company, is a pioneer in specialty and medical drug management and a leader in serving public sector state government programs. Together Prime and Magellan Rx provide a wide range of clients with solutions that bridge the distance between medical and pharmacy management. For more information visit primetherapeutics.com and magellanrx.com or follow us on X (Twitter) at @Prime_PBM and @Magellan_Rx. 

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 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 capitalrx.com. 

SOURCE Prime Therapeutics LLC