Elevance Health has announced the closing of its deal to acquire Texas-based infusion therapy provider Paragon Healthcare.
While details of financial terms were not disclosed by the companies, a report from Axios pegged the deal at “well north of $1 billion.” Paragon will shift to operate under CarelonRX, the pharmacy services segment within Elevance Healths’ Carelon.
Paragon offers infusible and injectable therapies through at-home and on-site services at one of more than 40 infusion centers located across eight states. Currently the centers are concentrated in the south and Midwest, but the company is licensed in all 50 states, and an Elevance announcement says the new parent company will look to expand Paragon’s geographical footprint and operations.
"We are excited to welcome Paragon Healthcare—a leading provider of infusion services—to our Elevance Health family," says Elevance Health EVP and Carelon president Pete Haytaian in prepared remarks. "Together, we have the opportunity to provide members with greater choice on where they receive their infused medications, which will ultimately remove barriers to care, increase medication adherence, lower costs of care and better support members’ whole health."
The successful acquisition follows news earlier this year that Elevance and Blue Cross and Blue Shield of Louisiana are hitting pause on a separate blockbuster deal.
Evan joined TriMed in 2011, writing primarily for Health Imaging. Prior to diving into medical journalism, Evan worked for the Nine Network of Public Media in St. Louis. He also has worked in public relations and education. Evan studied journalism at the University of Missouri, with an emphasis on broadcast media.