Ray was born on April 3, 1935 to Raymond L. Henderson and Mary Emily Staples Henderson in Memphis, Tennessee. He grew up on a farm and graduated from Bells High School. Following in his father's footsteps, Ray pursued a pharmacy degree. In his last years of college, he met his wife, Louise, while working part-time at Bailey Drugs. They married on October 20, 1956. Ray graduated from the University of Tennessee at Memphis with a Bachelor of Science in Pharmacy degree in 1957. He and Louise moved to Nashville after graduation where they raised three daughters.
Ray was preceded in death by his parents and younger brother, Samuel C. Henderson. He is survived by his daughters, Marilee H. Dye, Dana (Stuart) Countess and Amy (Craig) Wood; grandchildren Raymond Jackson Countess, Anna Louise Countess, Lauren (Cody) Wood Reynolds and William Ethan Wood; great-grandchildren Gracie Reynolds and Madilyn Reynolds; sister-in-law, Betty Henderson