Carelon Health of California, Inc.

INDIANAPOLIS – March 11, 2024 – 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. Media Contact: Leslie Porras Leslie.Porras@elevancehealth.com Investor Relations: Stephen Tanal Investor.Relations@elevancehealth.com

MORRISTOWN, N.J.--( BUSINESS WIRE )--Today, CarelonRx announced it will launch a weight management program this spring to provide members support on their weight loss journeys – including those who utilize GLP-1 medications. By 2030, about half of adults in the U.S. will have obesity, and about a quarter of adults will have severe obesity, according to a study in the New England Journal of Medicine . In addition, more than 49% of U.S. adults have tried to lose weight in the past year, and 45% of American adults are interested in taking a prescription weight loss medication. CarelonRx’s digital-first weight management program will provide access to digital coaching and wellness tools that will help participants manage and monitor their weight goals, with the ability to connect to live human support – both digitally or over the phone – whenever needed. Behavioral health and social drivers of health screenings will also be incorporated to ensure whole health is at the heart of personalized wellness plans. “ At CarelonRx, we want to ease the complexities of weight loss and weight management, and support healthier lifestyles for our members,” said Paul Marchetti, president of CarelonRx. “ Our weight management program is unique because it considers a member’s whole health needs, including pharmacy, medical and social drivers of health data, and creates opportunities for care coordination between nutrition and exercise experts, pharmacists, physicians and health plans.” For those participants who are prescribed GLP-1 medications to aid in their weight management journeys, the program will feature a GLP-1 companion module that is designed to provide medication management support with a member’s prescribing physician. The weight management program will be available to ASO integrated clients. About CarelonRx CarelonRx is a Carelon company, part of the Elevance Health family of healthcare services brands. CarelonRx puts the benefits back into pharmacy to improve the health of our members and the healthcare system. We work to remove barriers, personalize experiences, and improve health outcomes, no matter where our members are in their healthcare journey. For more information, visit our website or follow us at CarelonRx on LinkedIn .

Elevance has closed its deal to acquire specialty pharmacy BioPlus, the insurer announced Wednesday, after first announcing the buy in November 2022. The acquisition builds off the Indianapolis-based insurer’s promise to acquire companies around its health services business, with Elevance CEO Gail Boudreaux announcing at a November industry conference that the insurer planned to grow “very aggressively” into adjacent care services. Financial terms of the BioPlus deal were not disclosed. BioPlus focuses on complex and chronic conditions like cancer and multiple sclerosis and has a footprint that “touches all 50 states.” In a statement, the insurer said that the acquisition will help it meet the “specialty drug needs” of its customers, supported by programs across Elevance’s health services business. With the buy, BioPlus will now operate as a part of the insurer’s pharmacy benefit manager, CarelonRx. The PBM sits beneath the insurer’s health services business Carelon. Elevance closed the deal with CarepathRx, a portfolio company of middle-market private equity firm Nautic Partners. Previously, CarepathRx purchased BioPlus in 2020. Founded in 2019, CarepathRx provides pharmacy services to more than 20 health systems and 600 hospitals. In January, Elevance, previously known as Anthem, reported a $6 billion profit in 2022, one day after announcing that it would acquire Blue Cross and Blue Shield of Louisiana for an undisclosed sum. The buy is expected to add 2 million members to its annual membership count of 47.5 million lives.