Soleo Health Acquires Paragon Infusion Therapy's Pharmacy Business to Expand Healthcare Footprint

VCBeat (WeChat Official Account: vcbeat) learned from Business Wire that on November 20, 2019, local time, Soleo Health, an innovative leader in professional infusion services, announced the acquisition of Paragon Infusion Therapy’s pharmacy business. Financial details of the transaction were not disclosed.

Alongside this acquisition, Aaron Braden and Brad Manning, the leaders of Paragon with years of industry experience, as well as the entire Paragon team, will join Soleo Health to further solidify Soleo Health’s leading position in the regional market.

This acquisition expands Soleo Health’s coverage to 20 pharmacies nationwide and bolsters the company’s operations in Columbus, Ohio, and the Midwest region.

Paragon Infusion Therapy, established in 1986, is a leading home infusion therapy provider in the United States. Patients can receive care from specially trained pharmacists and nurses through Paragon Infusion Therapy’s local infusion service providers, supported by a network of more than 40 provider teams across the country.

Vital Care of Dayton is a retailer under Paragon Infusion Therapy, providing medical supplies and equipment billed as chargeable items to healthcare organizations. Meanwhile, through its Dayton pharmacy location, Paragon Infusion Therapy delivers specialty pharmacy services to patients across southeastern Ohio and throughout the states of Indiana and Kentucky. By expanding its service footprint in the Midwest and attracting more clients who benefit from its high-touch care model, Soleo Health will enhance service delivery for patients with acute and specialty pharmacy needs.

Soleo Health, founded in 2007 and headquartered in Texas, USA, is an innovative national healthcare services provider. The company offers complex specialty pharmacy and infusion therapies that can be administered at home or in other care settings. Soleo Health’s interdisciplinary team, composed of experienced clinical pharmacists and registered nurses, employs a consistent patient management process that enhances the patient experience while delivering quantifiable clinical and economic value. Currently, Soleo Health operates 20 branches across the United States, holds nationwide pharmacy licenses, and provides care services in all 50 states. It has also earned accreditation from The Joint Commission.

Regarding this acquisition, Drew Walk, CEO of Soleo Health, stated: “We welcome Paragon Infusion Therapy into the Soleo Health family. Since its establishment in 2018, Paragon has become a leading provider of specialized home infusion services in the region. We believe Paragon is an excellent fit for Soleo Health, as we share similar philosophies in delivering high-level clinical services, committing to patient care, and providing information focused on local patients.”

Braden added, “Our partnership with Soleo Health will benefit the patients we serve and the vendors we work with by strengthening our leadership position in the regional market. Collaborating with Soleo Health enables us to provide additional capabilities and resources while maintaining our local market presence, delivering the high-quality healthcare services that our stakeholders have come to expect.”

Holly Flax, Head of Midwest Operations at Soleo Health, stated, “The addition of the Paragon team will help us expand our specialized infusion services and enhance the clinical expertise we bring to the Midwest. Their integration enables Soleo Health to better meet the needs of patients, providers, health systems, manufacturers, and payers in southeastern Ohio, Indiana, and Kentucky.”

(Compiled by: Wang Fang)