Indianapolis – March 11, 2024 – Elevance Health (NYSE: ELV) today announced the completion of its acquisition of Paragon Healthcare, a company specializing in life-saving and life-giving infusion and injectable therapies.
Paragon Healthcare provides infusion services to patients through an omnichannel model of outpatient infusion centers, home infusion pharmacies, and other specialty pharmacy services. Headquartered in Plano, Texas, the company currently serves more than 35,000 patients at more than 40 outpatient infusion centers and patients' homes in eight states.
The acquisition of Paragon Healthcare strengthens Elevance Health's ability to provide affordable and convenient access to specialty medicines to people with chronic and complex conditions. Paragon Healthcare will now operate as part of CarelonRx, the pharmacy services division within Elevance Health's Carelon medical services division.
“We are excited to welcome Paragon Healthcare, a leading provider of infusion services, to the Elevance Health family,” said Pete, Executive Vice President of Elevance Health and President of Caleron. Haytaian said. “Together, we have the opportunity to offer our members greater choice in where they receive their IV medications, which will ultimately remove barriers to care and improve medication adherence. This will improve health care, reduce healthcare costs, and better support the overall health of our members.”
Elevance Health plans to expand Paragon Healthcare's geographic footprint and operations while enhancing its treatment coverage to provide members with convenient and timely access to medicines.
About Elevance Health Co., Ltd.
Elevance Health is your trusted lifelong health partner, driven by a purpose to improve human health. The company supports consumers, families and communities throughout the journey of care, providing them with the care, support and resources they need to live healthier lives. Elevance Health companies serve more than 115 million people through a diverse portfolio of industry-leading medical, digital, pharmacy, behavioral, clinical and complex care solutions. For more information, please visit or follow us at www.elevancehealth.com. @ElevanceHealth Elevance Health on X and Elevance Health on LinkedIn.
About Paragon Healthcare Co., Ltd.
Founded in 2002, Paragon Healthcare, Inc. is a leading provider of infusion services to patients through a network of outpatient infusion centers, home infusion pharmacies, and other specialty pharmacy services. The company provides high quality, convenient, comfortable, and low-cost care to patients with chronic and acute illnesses. Paragon is headquartered in Texas and operates locations in Alabama, Colorado, Florida, Georgia, Missouri, Oklahoma, Tennessee and Texas. For more information, please visit www.paragonhealthcare.com.
Forward-looking statements
This document contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect our views regarding future events and financial performance and are generally not historical facts. “expect”, “feel”, “believe”, “will”, “may”, “should”, “anticipate”, “intend”, “estimate”, “plan” Words such as “,” “anticipate,” “plan,” and similar expressions are intended to identify forward-looking statements. These descriptions include, but are not limited to: Financial Projections and Estimates and Underlying Assumptions. Statements regarding plans, objectives and expectations regarding future operations, products and services. and statements regarding future performance. Such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond our control, and which may cause actual results to be expressed, implied or predicted by the forward-looking statements. The results may differ significantly from those shown. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. We also provide various risks and other disclosures discussed in our reports filed from time to time with the U.S. Securities and Exchange Commission for the purpose of advising our stakeholders on factors affecting our business. We recommend careful consideration and consideration. Except to the extent required by law, the Company does not undertake to update or revise any forward-looking statements to reflect events or circumstances occurring after the date hereof. These risks and uncertainties include, but are not limited to, trends in healthcare costs and utilization; Decrease in number of registrants. our ability to secure and enforce adequate insurance premium rates; the effects of large-scale medical emergencies such as public health epidemics, pandemics, and other catastrophes, including the coronavirus disease (COVID-19); the effects of new or changed existing federal, state or international laws and regulations, or their implementation or application, including health care laws and regulations; our failure to comply with privacy or security laws or regulations, including the effects of or related investigations, claims or litigation of cyber-attacks or other privacy or data security incidents or breaches; Information technology disruption. changes in economic and market conditions and regulations that may adversely affect our liquidity and investment portfolio; competitive pressures and our ability to adapt to industry changes and develop and execute on strategic growth opportunities; risks and uncertainties with respect to the Medicare and Medicaid programs, including those related to noncompliance with the complex regulations imposed on the Medicare and Medicaid programs; our ability to maintain and achieve improved funding risk with respect to Centers for Medicare and Medicaid Services star ratings and other quality scores and the revenues derived from our participation therein; negative changes in our healthcare product mix; costs and other liabilities related to litigation, government investigations, audits or reviews; our ability to contract with providers on cost-effective and competitive terms; inability to effectively maintain and modernize information systems; risks associated with the provision of pharmacy, health care, and other diverse products and services, including medical malpractice or professional liability claims and noncompliance by the parties to the pharmacy services agreement between us and CaremarkPCS Health, LLC; ). risks related to mergers, acquisitions, joint ventures and strategic alliances; the possibility that the value of our intangible assets could be impaired if future results do not adequately support our goodwill and other intangible assets; potential restrictions on dividend payments from our subsidiaries and increases in required minimum capital levels; our ability to repurchase our common stock and pay dividends on our common stock, subject to the adequacy of our cash flows and earnings and other considerations; the potential adverse effects of our significant amounts outstanding and increases in interest rates or market volatility that could affect our access to financing or further increase our costs of financing; downgrade of our financial strength rating; the impact of negative publicity related to the health insurance industry in general or to us in particular; events that may adversely affect the Blue Cross and Blue Shield Association's license; Intense competition to attract and retain employees. risks associated with our international operations; It also includes various laws and provisions within our governing documents that may prevent or discourage acquisitions or business combinations.
Media contact:
Leslie Porras
Leslie.Porras@elevancehealth.com
Public relations activities for investors:
Steven Tannall
Investor.Relations@elevancehealth.com
