Elevance Health Announces Closing of Paragon Healthcare Acquisition

Acquisition to enhance capabilities in multi-site infusion services, specialty pharmacy

INDIANAPOLIS--(BUSINESS WIRE)-- 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

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