NEW YORK–(BUSINESS WIRE)–Capital Rx, the fastest-growing pharmacy benefit manager in the U.S., announced today it has appointed Matthew Gibbs, PharmD, as President of Commercial Markets. In this role, Mr. Gibbs will expand Capital Rx’s capacity to bring forward more accurate and efficient drug pricing methodologies to increase access, affordability and disclosure of medication costs to plan sponsors and members.
“Matthew shares our mindset that businesses and patients need stable and clear pharmacy costs,” said AJ Loiacono, Founder and CEO of Capital Rx. “He brings proven clinical roots and leadership experience and a deep network to our team. These attributes will be invaluable as we continue to transform what it means to be a PBM, and focus on delivering real value to people who take medications, and to their employers.”
“Capital Rx is an innovative technology company that has created a framework that solves the inherent pharmacy benefits challenges that payers face,” said Mr. Gibbs. “I am excited to bring my perspective and experience in the PBM marketplace to a company that is providing sustainable prescription drug prices and improved quality of care for more people.”
Mr. Gibbs’ 20-year career has spanned the PBM and consulting industries. He was most recently Aon’s Senior Vice President, managing a team that serves employers across the U.S. with pharmacy benefits strategy, program design, cost analysis and competitive bidding of pharmacy benefits management services. Previously, Mr. Gibbs was President of Envision Rx, and led the pharmacy team at Hewitt Associates. Before that, he served as Chief Pharmacy Executive at WellPoint Inc. (Anthem BCBS) and Chief Clinical Officer at Medco. He earned his doctor of pharmacy degree from Butler University.
About Capital Rx
Capital Rx is redefining the way prescriptions are priced and administered in the U.S. Through its Clearinghouse ModelSM, Capital Rx unlocks the pharmacy supply chain and reduces prescription costs for employer groups. By establishing a competitive marketplace for drug pricing, Capital Rx focuses its resources on deploying actionable strategies that improve plan performance and patient outcomes. The company’s commitment to innovation, technology, and service is why Capital Rx is the fastest-growing pharmacy benefit manager in America. For more information, please visit http://www.cap-rx.com.