Acquisition to enhance capabilities in
multi-site infusion services, specialty pharmacy
Elevance Health (NYSE: ELV) today announced the closing of its
acquisition of Paragon Healthcare, Inc., a company specializing in
life-saving and life-giving infusible and injectable therapies.
Paragon Healthcare provides infusion services to patients
through its omnichannel model of ambulatory infusion centers, home
infusion pharmacies, and other specialty pharmacy services. The
company, headquartered in Plano, Texas, currently serves more than
35,000 patients at over 40 ambulatory infusion centers across eight
states, as well as patients’ homes.
The acquisition of Paragon Healthcare will deepen Elevance
Health’s capabilities around providing affordable, convenient
access to specialty medications for those living with chronic and
complex illnesses. Paragon Healthcare will now operate as part of
CarelonRx, the pharmacy services segment within Carelon, Elevance
Health’s health services division.
“We are excited to welcome Paragon Healthcare – a leading
provider of infusion services – to our Elevance Health family,”
said Pete Haytaian, Executive Vice President, Elevance Health and
President, Carelon. “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.”
Elevance Health plans to expand Paragon Healthcare’s
geographical footprint and operations while bolstering its
therapeutic coverage to ensure members receive convenient, timely
access to medications.
About Elevance Health, Inc.
Elevance Health is a lifetime, trusted health partner fueled by
its purpose to improve the health of humanity. The company supports
consumers, families, and communities across the entire care journey
– connecting them to the care, support, and resources they need to
lead healthier lives. Elevance Health’s 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
www.elevancehealth.com or follow us @ElevanceHealth on X and
Elevance Health on LinkedIn.
About Paragon Healthcare, Inc.
Founded in 2002, Paragon Healthcare, Inc. is a leading provider
of infusion services to patients through its network of ambulatory
infusion centers, home infusion pharmacies, and other specialty
pharmacy services. The company provides high quality, convenient,
comfortable, and lower cost care to patients with chronic and acute
conditions. Paragon is based in Texas, and operates locations in
the following states: Alabama, Colorado, Florida, Georgia,
Missouri, Oklahoma, Tennessee and Texas. For more information 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 about future
events and financial performance and are generally not historical
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“should,” “anticipate,” “intend,” “estimate,” “project,”
“forecast,” “plan” and similar expressions are intended to identify
forward-looking statements. These statements include, but are not
limited to: financial projections and estimates and their
underlying assumptions; statements regarding plans, objectives and
expectations with respect to 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,
that could cause actual results to differ materially from those
expressed in, or implied or projected by, the forward-looking
statements. You are cautioned not to place undue reliance on these
forward-looking statements that speak only as of the date hereof.
You are also urged to carefully review and consider the various
risks and other disclosures discussed in our reports filed with the
U.S. Securities and Exchange Commission from time to time, which
attempt to advise interested parties of the factors that affect our
business. Except to the extent required by law, we do 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 rates; reduced enrollment; our
ability to secure and implement sufficient premium rates; the
impact of large scale medical emergencies, such as public health
epidemics and pandemics, including COVID-19, and other
catastrophes; the impact of new or changes in existing federal,
state and international laws or regulations, including healthcare
laws and regulations, or their enforcement or application; the
impact of cyber-attacks or other privacy or data security incidents
or breaches or our failure to comply with any privacy or security
laws or regulations, including any investigations, claims or
litigation related thereto; information technology disruptions;
changes in economic and market conditions, as well as regulations
that may negatively affect our liquidity and investment portfolios;
competitive pressures and our ability to adapt to changes in the
industry and develop and implement strategic growth opportunities;
risks and uncertainties regarding Medicare and Medicaid programs,
including those related to non-compliance with the complex
regulations imposed thereon; our ability to maintain and achieve
improvement in Centers for Medicare and Medicaid Services Star
ratings and other quality scores and funding risks with respect to
revenue received from participation therein; a negative change in
our healthcare product mix; costs and other liabilities associated
with litigation, government investigations, audits or reviews; our
ability to contract with providers on cost-effective and
competitive terms; failure to effectively maintain and modernize
our information systems; risks associated with providing pharmacy,
healthcare and other diversified products and services, including
medical malpractice or professional liability claims and
non-compliance by any party with the pharmacy services agreement
between us and CaremarkPCS Health, L.L.C.; risks associated with
mergers, acquisitions, joint ventures and strategic alliances;
possible impairment of the value of our intangible assets if future
results do not adequately support goodwill and other intangible
assets; possible restrictions in the payment of dividends from our
subsidiaries and increases in required minimum levels of capital;
our ability to repurchase shares of our common stock and pay
dividends on our common stock due to the adequacy of our cash flow
and earnings and other considerations; the potential negative
effect from our substantial amount of outstanding indebtedness and
the risk that increased interest rates or market volatility could
impact our access to or further increase the cost of financing; a
downgrade in our financial strength ratings; the effects of any
negative publicity related to the health benefits industry in
general or us in particular; events that may negatively affect our
licenses with the Blue Cross and Blue Shield Association; intense
competition to attract and retain employees; risks associated with
our international operations; and various laws and provisions in
our governing documents that may prevent or discourage takeovers
and business combinations.
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version on businesswire.com: https://www.businesswire.com/news/home/20240310886703/en/
Media Contact: Leslie Porras
Leslie.Porras@elevancehealth.com
Investor Relations: Stephen Tanal
Stephen.Tanal@elevancehealth.com
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