Elevance Health Completes Paragon Healthcare Acquisition

Elevance Health announced the closing of its acquisition of Paragon Healthcare, Inc., a company specializing in life-saving and life-giving infusible and injectable therapies.

An affiliate of Peak Rock Capital (Peak Rock), a leading middle-market private investment firm, signed a definitive agreement for the sale of Paragon Healthcare to Elevance Health.

Paragon Healthcare is a leading provider of ambulatory and home infusion services as well as specialty pharmacy services. The company provides comprehensive, high quality infusion services to patients with chronic health conditions and those in need of post-acute care.

Headquartered in Plano, Texas, with more than 70 infusion and pharmacy locations in 12 states, the company has built an excellent reputation in the industry for its service to patients across lower-cost settings of care, including infusion centers and patients’ homes.

Since acquiring Paragon Healthcare from its founders, Peak Rock supported the company’s strategic growth and operational initiatives. This included a significant expansion of the company’s ambulatory infusion center and pharmacy footprint, creating hundreds of jobs and expanding access to infusion care across multiple states.

Paragon Healthcare also invested heavily in additional corporate infrastructure, including new team members, information technology systems, and enhanced operational capabilities. Paragon Healthcare more than doubled revenue and increased the number of infusion centers by more than 400% during Peak Rock’s ownership.

The acquisition of Paragon Healthcare will deepen Elevance Health’s capabilities around providing affordable, convenient access to specialty medications for those living with chronic and complex illnesses.

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

Elevance Health plans to expand Paragon Healthcare’s geographical footprint and operations while bolstering its therapeutic coverage to ensure members receive convenient, timely access to medications.

Elevance Health’s companies serve more than 115 million people through a diverse portfolio of industry-leading medical, digital, pharmacy, behavioral, clinical, and complex care solutions.