Creating an Innovation Leader in Concierge Medicine
Intrepid announced today that it acted as the exclusive financial advisor to Paragon Private Health, LLC (Paragon), on its merger with SignatureMD, Inc. (SignatureMD), a portfolio company of middle-market private equity firm Blue Sea Capital. Headquartered in New York, NY, Paragon is one of the most innovative independent managers of concierge medicine practices in the US, with a network of affiliated physicians providing essential care to patients across various subspecialties. 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.
“Paragon was founded in 2012 to improve patient care by helping physicians convert to and manage concierge practices where they could devote more time to their patients. 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. After evaluating our best avenues for growth, we recognized that greater scale and infrastructure could accelerate our momentum and help us take our innovations to more physicians and their patients. We found the same commitment to serving physicians and their patients in SignatureMD, which is focused on finding like-minded organizations to expand its national footprint,” said Hiren Doshi, Founder and CEO of Paragon. “When we interviewed financial advisors, we looked for firms that had an uncompromising commitment to their clients’ success. Intrepid understood our business and listened to our priorities. They proved to be a true partner throughout the process, guiding us every step of the way. We could not have achieved the same outcome without their creativity, tenacity, and deep expertise in healthcare M&A.”
Partnering with Paragon positions SignatureMD as one of the largest providers of concierge medicine services in the nation. The combined company will serve over 160 physicians across more than 30 states.
“It was especially gratifying and a true privilege to advise Paragon on finding the right partner for the next chapter of its evolution after seeing firsthand the personal and financial investments that Hiren made in order to build the company,” said Ed Bagdasarian, Managing Director at Intrepid. “This transaction was also particularly important to SignatureMD, as it represents the company’s first transaction under the ownership of Blue Sea Capital. The combined platform will benefit from greater scale, new technology, and shared best practices. We will watch with great interest the continued success of the combined organization and congratulate the teams at Paragon and SignatureMD for joining forces to create a truly differentiated market leader.”
The combined company will be led by Matt Jacobson, Founder and CEO of SignatureMD.
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.
Deal Team Contacts
About Intrepid Investment Bankers
Intrepid provides M&A, capital raising and strategic advisory services to entrepreneurs and middle-market companies in various industry sectors. Our heritage, rooted in our founders’ successful 35-year history, breeds a culture that embraces teamwork, tenacity, and creativity to win big for our clients. We believe that every company has an entrepreneurial passion that drives it and a story that defines it. Our team delivers results through skillful positioning and relentless execution. Based in Los Angeles, Intrepid augments its international capabilities through its active participation in Oaklins, an exclusive global alliance of M&A advisory firms.
About Paragon Private Health, LLC
Paragon Private Health 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.
About Paragon Telehealth Inc.
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.