Elevance Health to acquire Paragon Healthcare, terms undisclosed

Elevance Health announced that it has entered into an agreement to acquire Paragon Healthcare, a company specializing in life-saving and life-giving infusible and injectable therapies. The company, headquartered in Plano, Texas, provides care to patients with a broad range of chronic and acute conditions. Paragon Healthcare serves more than 35,000 patients at over 40 ambulatory infusion centers across eight states as well as patients’ homes. The company 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. The acquisition is subject to customary closing conditions and is expected to close in the first half of 2024; it is not expected to have a material impact on adjusted earnings per share in 2024.