New Pharmacy Benefit Management Company RxAdvance Expands Executive Management Team

  New Pharmacy Benefit Management Company RxAdvance Expands Executive
  Management Team

Business Wire

SOUTHBOROUGH, Mass. -- August 16, 2013

RxAdvance, an innovative pharmacy benefit management (PBM) company, has
expanded its executive management team with industry veterans Prakash
Tallabattula, who joins as executive vice president and chief technology
officer; Frank Shiraldi, who will serve as executive vice president and chief
pharmacy officer; and Christine Kyle, who will be executive vice president and
chief marketing officer.

RxAdvance was established by Ravi Ika, founder and executive chairman of
Southborough-based ikaSystems until this past February. Ika has proven that
significant administrative cost reductions were possible with a cloud-based
technology platform. He very quickly raised funding for and launched
RxAdvance, bringing his same “game-changing” approach to the pharmacy benefit
management industry. In his latest endeavor, Ika has created an actual full
service PBM company to run efficiently through technology innovation. This
innovation will significantly reduce RxAdvance’s administrative costs and plan
sponsor unit costs; optimize drug utilization/adherence; and improve
collaboration and transparency between plan sponsors and RxAdvance for better
health outcomes.

Prakash Tallabattula, executive vice president and chief technology officer,
oversees all technology operations, research and development, both onshore and
offshore. Tallabattula is an effective leader and hands-on technology
strategist with over 15 years of documented achievements in start-up,
turnaround, high-growth, and Fortune 500 corporate environments. He is a
driving force behind innovative strategies, processes, and technology
solutions delivered collaboratively through strong cross-functional
relationships built across the organization.

Prior to joining RxAdvance, Tallabattula worked as a senior enterprise
architect at Fannie Mae, where he was responsible for the organization’s
technology roadmap. He was also a senior architect at Verizon, where he played
a key technical role on Verizon Dialup/DSL/FIOS solutions. In addition, he
headed technology teams and was a member of executive teams at Sylvan
Learning, Hanleywood, and other companies.

Frank Schiraldi, R.Ph., executive vice president and chief pharmacy officer,
is responsible for development, implementation and oversight of the PBM
program across multiple business lines. He ensures compliance with contractual
guidelines affected by regulatory agencies, and leads strategic approaches to
managing pharmacy costs for health plans that include sophisticated modeling.
Schiraldi also oversees the drug utilization committee, plan-specific pharmacy
management initiatives,  and strategic pharmacy network contracting. He is a
member of the Pharmacy and Therapeutics Committee.

Schiraldi most recently served as vice president of business informatics at
BeneCard PBF, where he was responsible for operational metrics for key
business areas across the company, including clinical services, client
services, networks, sales, and the executive management team. Before that, he
served as vice president at Xerox Audit & Compliance Solutions, where he
oversaw a pharmacy auditing company and developed advanced pharmacy claims
analytical tools and fraud detection methodology. He held positions with
McKesson and Rite Aid Corporation, with responsibilities in third-party
administration and management. He has also held various business and clinical
roles with companies including Keystone Mercy Health Plan and Eagle Managed

Christine Kyle, executive vice president and chief marketing officer, is
responsible for overall sales and marketing activities for all lines of
business of the company. She is also responsible for strategic business
development and partnership development. Most recently, Kyle served as the
vice president of sales for Sodexo, a global healthcare onsite service
solutions company providing strategic direction and sales leadership for the
company’s U.S. senior living division. Previously, she was vice president of
specialty pharmacy payer sales and account services for CVS Caremark where she
was responsible for providing strategic direction to support the market
development of existing clients and expand into new and competitive markets.
Prior to that, Kyle was vice president at Aetna specialty pharmacy sales and
account management. She has held respected positions at the top five Fortune
100 health insurance companies (Aetna, Humana, Anthem BCBS, UnitedHealthcare
and Cigna) and is an expert in her field. Her inherent knowledge of the
industry and strong leadership skills have contributed to her high degree of
success in management, strategic planning, and business development.

About RxAdvance
RxAdvance is a pharmacy benefit management (PBM) company created specifically
for the future of healthcare. We are a single resource to help you better
understand and manage standard formulary and specialty pharmaceutical and
biologics usage. We bring together member, provider, and payer pharmacy
case/care management staff with our own pharmacy and case/care management
staff to facilitate the type of information sharing and decision-making that
ultimately yields the best clinical and financial outcomes. Our tailored,
world-class services for all plan sponsors — health plans, accountable care
organizations (ACOs), state Medicaid programs, employer groups and unions —
blend state-of-the-art technologies with experienced and talented professional
teams to optimize your return on investment while enhancing your competitive
stance in the market. For more information, visit


Pooja Sammeta, 508-804-6900
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