Elevance Health Agrees to Acquire Paragon Healthcare

Elevance Health entered into an agreement to acquire Paragon Healthcare, Inc., a company specializing in life-saving and life-giving infusible and injectable therapies.

For more than 20 years, Paragon Healthcare has provided infusion services to patients through its omnichannel model of ambulatory infusion centers, home infusion pharmacies, and other specialty pharmacy services.

Paragon Healthcare serves more than 35,000 patients at over 40 ambulatory infusion centers across 8 states as well as patients’ homes.

The company provides high quality and convenient care to patients with a broad range of chronic and acute conditions. Paragon Healthcare helps treat more than 300 health conditions with 24/7 on-call support.

Following the acquisition, Elevance Health will look to expand Paragon Healthcare’s geographical footprint and operations while bolstering its therapeutic coverage. Elevance Health will also remain committed to the company’s leading customer service approach.

Once integrated, Paragon Healthcare patients who receive both medical and pharmacy benefits from Elevance Health’s subsidiaries will benefit from the company’s ability to leverage medical and pharmacy data to deliver proactive, whole health insights.

After the acquisition closes, Paragon Healthcare will operate as part of CarelonRx, the pharmacy services segment within Carelon, Elevance Health’s health services division.

Paragon Healthcare has built an excellent reputation in the industry for its service to patients across lower-cost settings of care, including infusion centers, patient homes, and physician’s offices.

Paragon Healthcare offers services in home infusion therapy, infusion center site-of-care options, specialty pharmaceuticals, rare disease care, bleeding disorder treatment and management, and in-office infusion suite solutions for physicians.

An affiliate of Peak Rock Capital, a leading middle-market private equity firm, completed its acquisition in 2020 of Paragon Healthcare in partnership with the management team. In August 2023, market sources said that Peak Rock Capital was preparing to sell Paragon Healthcare.