Originally founded as Envision Pharmaceutical Services, the company grew into EnvisionRxOptions, a transparent and pass-through pharmacy benefit manager (PBM). Its mission was to manage prescription drug benefits on behalf of health insurers, employers, and other payers, focusing on controlling drug costs and improving health outcomes for members. In 2015, the company was acquired by Rite Aid Corporation for approximately $2 billion. In 2020, Rite Aid rebranded its entire pharmacy services segment, including EnvisionRxOptions, under the new name Elixir to unify its PBM, mail-order, specialty pharmacy, and pharmacy discount card services.