Press Releases

Founder and CEO of Rapidly Growing Pharmacy Benefit Manager RxAdvance Honored with Prestigious Entrepreneurship Award

Southborough, MA – December 12, 2018: The Founder & CEO of transformative pharmacy benefit management company, RxAdvance, has gained recognition for leading entrepreneurship practices by TiE Boston, the world’s largest network for entrepreneurs. Ravi Ika was named as the recipient of the Charter Member Achievement Award for his transformative leadership of Southborough-based RxAdvance, whose mission is to significantly reduce waste in the healthcare industry through innovative business & risk models and market-leading platform.

With guidance from visionary leaders including Ika, former Apple CEO John Sculley, and Uber Co-Founder Oscar Salazar, RxAdvance embraces innovation and entrepreneurial thought to define the future of healthcare. Following the March 2018 announcement of a strategic partnership with Centene Corporation, the country’s largest Medicaid Health Plan, RxAdvance is scaling exponentially, and anticipates hiring 100 or more talented individuals in the first quarter of 2019 to join their passionate team.

Ika will be formally recognized for his achievement at TiE Boston’s Annual Gala, which will take place on Thursday, December 13th at the Four Seasons Boston. The awards highlight the achievements of innovators and entrepreneurs across various categories, including venture capital, digital health, B2B & B2C technology, and robotics & automation.

About RxAdvance

RxAdvance is a national full-service pharmacy benefit manager that leverages Collaborative PBM Cloud™ platform to deliver integrated PBM services that reduce overall pharmacy costs, optimize specialty spend by converting from “buy and bill” to “authorize and manage”, and reduce avoidable drug-impacted medical costs while improving patient’s quality of life with unmatched regulatory compliance and transparency. 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. For more information, visit

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