Name: Wendy Barnes
New title: President and CEO, GoodRx
Previous title: CEO, RxBenefits
Barnes will officially take on the chief executive position at the drug discount and digital health company on Jan. 1, according to a press release.
Courtesy of Business Wire/GoodRx
She joins GoodRx from RxBenefits, which calls itself a pharmacy benefits optimizer, consulting with self-insured employers on pharmacy benefits. Barnes also previously served as president of Express Scripts Pharmacy — the prescription delivery arm of Cigna-owned pharmacy benefit manager Express Scripts — and group vice president at retail pharmacy Rite Aid.
Barnes will focus on the company’s strategic initiatives, including bringing all pharmaceutical companies’ brand affordability programs onto its platform, expanding its products with healthcare professionals and adding new partnerships with pharmacies, insurers and drug manufacturers, according to GoodRx.
She’ll take up the role more than a year after GoodRx switched up its top executives. Trevor Bezdek and Doug Hirsch, who founded the company in 2011, stepped down from their roles as co-CEOs in April 2023, leaving interim CEO Scott Wagner to head up the digital health firm.
Bezdek and Hirsch currently serve on the company’s board of directors.
The permanent CEO decision comes as GoodRx faces a lower stock price compared with the same time last year. The company also missed investor expectations on earnings and revenue in the third quarter.
Still, GoodRx reported revenue of $195.3 million, an 8% increase compared with the third quarter in 2023. It posted net income of $4 million, up from a loss of $38.5 million last year.
Correction: A previous version of this article misidentified the type of company RxBenefits is. It’s a pharmacy benefits optimizer.
