QuicksortRx, a technology company helping health systems reduce medication costs, has announced the close of an investment round and the appointment of Shawn Jenkins and Steve Swanson to their board of directors.
Headquartered in the Charleston Digital Corridor's Flagship at the Charleston Tech Center, QuicksortRx helps health systems across the country improve medication purchasing efficiency with technology developed at the Medical University of South Carolina. QuicksortRx software manages hundreds of millions of dollars in pharmaceutical purchasing across large, non-profit health systems, helping pharmacy supply chains navigate the volatile medication marketplace with real-time pricing and analysis.
“We are excited to welcome two of Charleston's great tech business leaders who have shown not only their expertise in building amazing companies, but also their commitment to the Charleston community,” said Jonathan Yantis, CEO of QuicksortRx. “Steve and Shawn are fantastic to work with, and we are thrilled to have them on board to further our mission to decrease the costs of healthcare.”
Prior to joining QuicksortRx, Shawn Jenkins was the founder and CEO of Benefitfocus, a publicly traded SaaS company and a leader in data-driven, cloud-based software solutions for healthcare and benefits administration. Jenkins served as CEO through its IPO in 2013 where he grew revenues over $250 million until his retirement in 2018. Shawn is also a primary benefactor of the new MUSCShawn Jenkins Children’s Hospital, a state-of-the-art pediatric facility impacting the lives of countless women, children, and their families.
Steve Swanson co-founded AutomatedTrading Desk (ATD), a pioneer in high frequency trading, in 1989. In 2001, Swanson was named President and CEO where he was responsible for growing ATD to 7% of US daily equity trading volume. In 2007, Citigroup acquired ATD for $680 million. Today, Swanson serves on the board of directors at the Bank of South Carolina (NASDAQ: BKSC) as well as several other privately held companies. He also serves on the boards of directors of YESCarolina and the board of trustees at his alma mater, the College of Charleston.
QuicksortRx was founded by pharmacists and technologists from the Medical University of South Carolina who understand the potential in health-system supply chains and develop key solutions to unlock it. QuicksortRx provides real-time purchasing oversight, analytics, and savings identification tools to minimize medication costs without impacting operations or agreements.
For more information, visit QuicksortRx.com