Peak Rock Capital announces sale of Paragon Healthcare to Elevance Health
An affiliate of Peak Rock Capital, a prominent middle-market private investment firm, today announced a definitive agreement for the sale of Paragon Healthcare, Inc. to Elevance Health (NYSE: ELV). This move signifies a major shift in the healthcare industry, with Paragon, a leader in ambulatory and home infusion services, joining one of the industry’s major players.
Paragon Healthcare: A Leader in Infusion Services
Headquartered in Plano, Texas, Paragon has established itself as a leading provider in the healthcare sector, offering comprehensive, high-quality infusion services across 70 locations in 12 states. The company has earned an excellent reputation for its patient care in lower-cost settings, including infusion centers and home-based services.
Growth and Expansion Under Peak Rock’s Ownership
Since acquiring Paragon from its founders, Peak Rock has significantly contributed to the company’s strategic growth and operational initiatives. This includes expanding the company’s ambulatory infusion center and pharmacy footprint, creating numerous jobs, and increasing access to infusion care. Paragon’s revenue more than doubled and its infusion centers increased by over 400% during Peak Rock’s ownership.
Transformation in Healthcare: Paragon Healthcare Joins Forces with Elevance Health
Statements from Peak Rock and Paragon’s Leadership
Spencer Moore, Managing Director of Peak Rock, commended the team at Paragon for their tremendous growth, highlighting the strategic and operational resources that enabled this expansion. Anthony Mollica, CEO of Paragon, acknowledged Peak Rock’s critical role in the company’s growth and expressed enthusiasm for joining Elevance Health. Anthony DiSimone, CEO of Peak Rock, reflected on the success of the transaction as an example of the firm’s expertise in supporting the development of family and founder-owned businesses.
The Future of Paragon under Elevance Health
This acquisition promises to bring a new era for Paragon Healthcare, as it joins forces with Elevance Health. The focus remains on providing high-quality infusion care, with an expanded capacity to serve patients across the nation.