LucyRx Announces New Investment from LRVHealth to Drive Innovation and Expand Access to Smarter Pharmacy Benefits
BETHESDA, Md., April 15, 2025--(BUSINESS WIRE)--LucyRx, a next-generation pharmacy benefits manager (PBM), today announced a strategic growth investment from LRVHealth, a healthcare investment platform backed by a national network of leading health systems. With this funding, LRVHealth joins LucyRx's existing investor base, bringing the company's total committed capital to more than $500 million.
The investment recognizes LucyRx's role in transforming the PBM industry and will further scale the company's technology-enabled platform, expand client partnerships, and ultimately enhance prescription drug access and affordability.
"This partnership marks a pivotal moment for LucyRx as we continue our mission to rethink what's possible in pharmacy benefits," said David Blair, CEO of LucyRx. "LRVHealth's deep industry expertise and strategic network will help accelerate our growth, broaden our impact, and bring our high-touch, client-first PBM approach to more employers, payers, and members."
Accelerating Innovation & Expanding Reach
With employers and payers demanding greater clarity, flexibility, and control over pharmacy benefits, LucyRx is setting a new standard in the prescription benefit industry—one that combines advanced technology with a commitment to high-touch service. The investment will accelerate:
Expansion of LucyRx's technology-driven PBM model, delivering cost efficiency, personalized support, and plan flexibility.
Customizable solutions that simplify formulary management, reduce administrative complexity, and improve medication adherence—while driving down overall costs.
Advanced analytics and AI-powered tools through LucyIQ™, enabling smarter decision-making for plan sponsors and members.
"As pharmacy benefits continue to evolve, we see strong alignment between LucyRx's solutions and the needs of our health system partners," said Tripp Peake, Managing Partner at LRVHealth. "There is tremendous potential in their model, and we are excited to support David and the LucyRx team."
A Shared Vision for Impact
The investment aligns with LRVHealth's mission-driven approach to creating meaningful health and social impact through three core pillars:
Creating Healthier Communities
Expanding Access to Care
Building Sustainable Healthcare Systems
LucyRx is committed to creating healthier communities and expanding access to care through an accountable, patient-first approach to pharmacy benefits.
About LucyRx
LucyRx is an independent, next-generation pharmacy benefit manager (PBM) redefining prescription care. Fueled by innovation and decades of leadership experience, LucyRx delivers better outcomes through its integrated specialty network, formulary marketplace, and next-day home delivery solutions. Powered by its proprietary AI platform, LucyIQ™, the company provides real-time insights that support evidence-based clinical decisions, clear pricing, and exceptional service from U.S.-based pharmacy technicians. Partnering with more than 60,000 pharmacies, LucyRx serves over 1,200 clients nationwide.
This is prescription care, brilliantly reimagined.Learn more at LucyRx.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250415481334/en/
Contacts
Media Contact Tricia Bancroft516-241-6157press@lucyrx.com
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