TLDR:
- Elevance Health has entered into an agreement to acquire Paragon Healthcare, a company that specializes in infusible and injectable therapies.
- Paragon provides infusion services to patients through its omnichannel model of ambulatory infusion centers, home infusion pharmacies, and specialty pharmacy services.
Elevance Health is set to expand its services through the acquisition of Paragon Healthcare, a company that specializes in infusible and injectable therapies. Paragon has been operating for over 20 years, providing infusion services to patients through a combination of ambulatory infusion centers, home infusion pharmacies, and specialty pharmacy services. The company is headquartered in Plano, Texas, and offers care to patients with a variety of chronic and acute conditions. The financial terms of the acquisition have not been disclosed.
By acquiring Paragon, Elevance Health aims to strengthen its capabilities in offering affordable access to specialty medications and services for patients living with complex illnesses. The acquisition will enable the two companies to provide patients with more choice when it comes to the most appropriate site of care options, such as ambulatory or in-home locations. This will help to remove any barriers to care and support patients’ overall health and well-being.
Paragon Healthcare currently serves more than 35,000 patients across eight states, offering treatment for over 300 different health conditions. The company operates more than 40 ambulatory infusion centers and provides 24/7 on-call support. Elevance Health plans to expand Paragon Healthcare’s geographical footprint and operations while expanding its therapeutic coverage. The company is committed to maintaining Paragon’s high level of customer service and will integrate the company into its health services division, CarelonRx.
The acquisition of Paragon Healthcare is set to close in the first half of 2024, subject to customary closing conditions. It is not expected to have a significant impact on Elevance Health’s adjusted earnings per share in 2024.
