Paragon And SignatureMD Merge To Establish Premier Provider Of Membership-Based Concierge Medicine Support Services
Source: Paragon Private Health, Wed 4/22/2020 7:12 AM
New York, NY (April 22, 2020) Founded in 2012, New York City headquartered, Paragon Private Health (Paragon) helps create, implement and manage customized concierge medicine programs with private practice physicians to provide enhanced care for patients throughout the Unites States.
With a reputation for supporting its members through cutting-edge, high-touch services including telemedicine, Paragon is the only concierge medicine company named to the prestigious Inc. magazine list of the 5,000 fastest growing private companies in America in consecutive years – 2018 and 2019.
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“As Paragon grew rapidly over the past few years due to our unparalleled focus on patient-experience and technology, it attracted the attention of some of the largest players in concierge medicine. Like all successful companies, we reached a stage in our evolution to evaluate our options for bringing additional long-term value to our Physicians, their practices and patients. After thoughtful consideration, we determined the benefits of being part of a larger concierge network far outweighed all other options., ” said Hiren Doshi, Founder and Chief Executive Officer at Paragon.
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As a result, Paragon Private Health has merged with Signature MD, Inc. (SignatureMD), one of the nation’s leading concierge medicine companies. The merger uniquely positions SignatureMD and Paragon to capitalize on the substantial sector growth opportunity while providing their affiliated physicians and members with best-in-class concierge medicine programs and an innovative service offering in areas like telehealth and remote monitoring. SignatureMD was founded by its current CEO, Matt Jacobson. Matt is one of concierge medicine’s thought-leaders and with the addition of the Paragon network of physicians, SignatureMD will expand to over 160 affiliated physicians across more than 30 states.
“As I watched Paragon’s evolution, I was impressed by the company and its many accomplishments. The people they hired, the culture they built, their concierge programs; as well as their customer service, processes, innovations and engagement strategies, have all been first-class,” said Matt Jacobson. “The synergies between SignatureMD and Paragon could not be ignored. Thus, Hiren and I felt that by combining the two companies, our affiliated physicians, their practices and their members would benefit in many ways.”
With a successful merger, Hiren Doshi will now focus on building and scaling digital health technologies including Paragon Telehealth, a company delivering telemedicine software solutions to healthcare providers.
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Intrepid Investment Bankers served as financial advisor to Paragon and CapM Advisors served as financial advisor to SignatureMD. Sherrard, German, & Kelly, P.C. served as Paragon’s legal counsel and McDermott Will & Emery served as SignatureMD’s legal counsel.
About Paragon Private Health: Paragon helps create, implement and manage customized concierge medicine programs with private practice physicians to provide enhanced care for patients throughout the Unites States. It is the only concierge medicine company named to the prestigious Inc. magazine list of the 5,000 fastest growing private companies in America in consecutive years – 2018 and 2019. www.paragonprivatehealth.com/
About SignatureMD: Headquartered in Los Angeles, CA, SignatureMD is one of the nation’s largest providers of support services to concierge medicine physicians and, following the merger with Paragon, has an expanding network of over 160 affiliated primary care and specialty physicians across more than 30 states. www.signaturemd.com/
About BlueSea Capital: Headquartered in West Palm Beach, FL, Blue Sea Capital is a private equity firm specializing in growth-oriented lower middle market companies. The firm has approximately $600 million in assets under management and invests across three industry verticals:healthcare, aerospace & defense and industrial growth. Blue Sea Capital’s strategy is to partner with talented managers and differentiated companies,typically as the first or second institutional investor, and deliver strategic and operational value-add that drives growth acceleration, industry outperformance and business transformation. www.blueseacapital.com/
About Paragon Telehealth: Headquartered in New York City, Paragon Telehealth is an innovative health tech company that is focused on design, development and deployment of telemedicine diagnostic and delivery solutions that enhance the ability of healthcare practitioners to provide optimal and augmented care to their patients. The lead product is an HIPPA compliant app that provides doctors and their staff and patients an elegant and dynamic platform for video,voice and text communication as well as personalized actions, practice information, appointment requests and other features. For participating practices, the app is readily available for download in the Apple and Android Online Stores. www.paragontelehealth.com/
SOURCE: PRESS RELEASE; Paragon Private Health, Wed 4/22/2020 7:12 AM