An Austin TX private equity firm, Peak Rock Capital, has acquired Paragon Healthcare, a specialty infusion provider based in Texas. Founded in 2002, Paragon encompasses more than 35 infusion centers (IVCs), specialty pharmacies and support offices nationwide. The company focuses on infusible and injectable pharmacy services in alternate site settings. Paragon Healthcare is a highly accredited provider of infusion therapies across multiple disease states and generates over $250MM in annual revenues. The transaction details were not disclosed.
The company offers multiple sites of care including operating ambulatory infusion centers in 10 US States. The Company’s CEO Rick Allen and his team has been driving strong growth since inception including strategic acquisitions and denovo growth initiatives. Paragon Healthcare also developed its InSite Therapy Centers which provide the infrastructure and support to add infusion services within physician offices. InSite Therapy Centers serve as a turn-key solution for physicians and their medical practice to have an in-office infusion suite without the challenges of figuring out how to manage and run it by themselves.
The company recently expanded with the addition of Oklahoma City’s Specialty Pharmacy – the first of 50-plus new Paragon locations scheduled to open in 13 different states nationwide by 2025, according to a recent press release found here: https://paragonhealthcare.com/okc-pharmacy-opening/. The company announced plans to triple its current workforce of 800+ employees with projections of serving over 100,000 patients annually within the next five years.
* Note: While Paragon Healthcare and its executives are long time friends of Paragon Ventures, the companies are not related.
The M&A activity across healthcare sectors continue to drive strong valuation and strategic options for business owners. Considering a sale, merger or recapitalization? If your business is ready, the market opportunities and strategic options in the current market are worthy of your consideration.
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