Health insurance giant Elevance Health said it has agreed to acquire Paragon Healthcare, Inc., a provider of infusion services to patients.
Elevance said Paragon provides infusion services to patients through its “omnichannel model of ambulatory infusion centers, home infusion pharmacies, and other specialty pharmacy services.” Financial terms of the deal for privately held Plano, Texas-based Paragon were not disclosed.
It’s the latest effort by Elevance Health to bolster its specialty pharmacy business and pursue its strategy to treat the whole health of the person. Last year, Elevance Health, which operates Blue Cross and Blue Shield health plans in 14 states, closed on its acquisition of BioPlus, a specialty pharmacy.
“The acquisition of Paragon Healthcare will deepen our capabilities around providing affordable, convenient access to specialty medications and best-in-class services for our members living with chronic and complex illnesses,” said Pete Haytaian, Executive Vice President, Elevance Health and President, Carelon, Elevance Health’s healthcare services business. “Together, Elevance Health and Paragon Healthcare will have the ability to provide members with greater choice on the most appropriate site of care options, such as ambulatory or in- home locations, which will remove barriers to care and better support members’ whole health.”
Paragon Healthcare serves more than 35,000 patients in patients’ home as well as at more than 40 ambulatory infusion centers across 8 states, treating “more than 300 health conditions with 24/7 on-call support,” the company said.
“Following the acquisition, Elevance Health will look to expand Paragon Healthcare’s geographical footprint and operations while bolstering its therapeutic coverage,” Elevance said in a statement. “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.”
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