Acquisition Advances Paradigm's Specialty Care Management Leadership, Further Builds Specialty Network Footprint and Capabilities
WALNUT CREEK, Calif. -- Paradigm Outcomes, the market leader in managing catastrophic and complex cases for the workers' compensation industry, today announced it has acquired Adva-Net, a leading ancillary network for high-acuity workers' compensation claims, providing services for comprehensive pain management, post-acute care management and addiction recovery. The acquisition will strengthen Paradigm's specialty network footprint and capabilities, accelerate new product development, and complement our core catastrophic and complex care management offerings.
"Our aim at Paradigm is to improve more lives and set a new standard for managing complex healthcare needs," said John Watts, CEO, Paradigm Outcomes. "To grow to the next level, we recognized the strategic value of joining forces with another market leader who shares our vision. Adva-Net diversifies our solutions while deepening our focus on clinically driven, network-based and outcomes-focused offerings for individuals with catastrophic injuries and complex medical issues. With today's acquisition of Adva-Net, and our prior acquisition of ForeSight Medical, Paradigm is in a strong position to become the nation's leading specialty network platform, supported by the industry's foremost clinical and business leadership team."
"Adva-Net has built a solid platform for specialty networks," said Dr. Kenneth (Ken) Hannigan, CEO of Adva-Net. I am looking forward to working with John and the team at Paradigm to create the next generation of solutions for complex care management."
About Paradigm Outcomes
Paradigm is the market leader in managing catastrophic and complex cases for the workers' compensation industry. The Paradigm Outcomes business provides clinically-driven comprehensive care management programs for people with catastrophic injuries, achieving 5x better medical outcomes and lowering total costs by 40% compared to industry benchmarks. Together with its wholly owned subsidiaries ALARIS Encore, ForeSight Medical and Adva-Net, Paradigm works to improve health outcomes and lower medical spend for high-cost, complex cases.
Source: PR Newswire