Marvin Richardson

Marvin serves as an Investor, Board Member and Industry Advisor of iA (Innovation Associates). Marvin and his two business partners bought a majority interest in iA in November 2019 and served as the Chief Executive Officer from March 2020 to November 2023 as the business grew from $55mm in Annual Revenue in 2019 to $300mm in Revenue in 2023.

Marvin brings over 44 years of healthcare executive and pharmacy leadership experience with various pharmacy automation technology, retail drugstore, and pharmacy operations companies. In addition, he has served as a consultant and advisor to healthcare companies and healthcare policy advisor to Former Indianapolis Mayor Steve Goldsmith and Former US Vice President Dan Quayle.

Prior to joining iA, Marvin was the co-founder and Managing Director of Capstone Consultants, a pharmacy automation consulting company. Capstone provides a wide range of pharmacy operations services from automation strategy and project planning to pharmacy workflow design and implementation/go-live. As an entrepreneur, Marvin co-founded both PrairieStone Pharmacies, which eventually became a 33-store retail chain, and Low Cost Health Care, a multi-store retail and long-term care pharmacy business which were eventually sold.

As president and CEO of PrairieStone Pharmacies, he introduced DailyMed in 2003, an automated compliance packaging product, which improved patients’ medication adherence, 9 years prior to PillPack’s marketplace launch. He eventually sold DailyMed to publicly traded Arcadia HealthCare and later served as president and CEO of Arcadia. In 2012, Arcadia divested DailyMed to Walgreens, and Marvin joined Walgreens as a corporate director with oversight of DailyMed and other automation initiatives.

Earlier in his career, Marvin worked in both Walgreens corporate and field operations positions, and for Rite Aid as senior vice president, pharmacy operations, responsible for pharmacy operations and technology for its 4,200 stores nationwide.

Currently, Marvin is looking forward to a new role as Managing Director of The Capstone Fund, a Donor Advise Fund, that will focus on mental health advocacy, hunger and faith based initiatives. Additionally, the for profit side of Capstone Fund will also invest in healthcare startups and automation technologies. Marvin holds a Bachelor of Science degree in pharmacy from Purdue University’s College of Pharmacy and was named a Distinguished Purdue Pharmacy Alumni in 2008. He currently serves on the Purdue College of Pharmacy Board, Grace Church Financial Oversight Team, and The Foundation for Sustainable Care.