Paradigm Outcomes Announces Definitive Agreement to Acquire ForeSight Medical
Wednesday, September 27, 2017 | 831 | 0 | min read
WALNUT CREEK, CA – September 27, 2017 – Paradigm Outcomes, the nation’s leading provider of medical management services for catastrophically injured workers, has entered into a definitive agreement to acquire ForeSight Medical. Together, ForeSight’s suite of surgical management solutions combined with Paradigm’s expertise in complex and catastrophic injuries will form the most comprehensive resource available for high-cost, high-acuity and complex care management. The transaction is expected to close in October.
“With the acquisition of ForeSight, we continue to expand the breadth and depth of Paradigm’s capabilities for managing the most complex cases and improving outcomes for injured workers,” said Jim Hudak, Paradigm's Chairman and Chief Executive officer. “Though this acquisition will create strategic synergy between two highly focused companies, the real winners are the injured workers we care for, and our clients, who will benefit from an expanded set of innovative services. I am excited about this new chapter as we continue to improve the lives of people with complex medical needs.”
“Combining ForeSight’s dynamic expertise in surgical device cost containment and high-quality orthopedic and spine care with Paradigm’s unmatched expertise in complex and catastrophic care management will accelerate the delivery of better outcomes for our customers and their injured workers,” said Brian Bell, President of ForeSight Medical. “As medical costs and severity continue to rise, I’m very enthusiastic about combining forces with the Paradigm team to continue delivering innovative healthcare solutions that drive value for our clients and improve the lives of their injured workers.”
Paradigm’s core business will remain unchanged. ForeSight Medical will operate as a wholly owned subsidiary of Paradigm and will maintain its separate brands. Clients will continue to receive exceptional service and unparalleled commitment to innovation from the teams they presently work with at Paradigm and ForeSight.
About Paradigm Outcomes
Paradigm Outcomes provides acute and ongoing case management services for people with acquired brain injuries, spinal cord injuries, multiple traumas, amputations, burns and chronic pain. As the nation’s leading provider of complex and catastrophic medical management in the workers’ compensation industry, Paradigm achieves 5x better medical outcomes and lowers total costs by 40%. Paradigm accomplishes this by bringing together nationally recognized doctors, nurses and specialists, the best network of care facilities in the country, and more than 25 years of clinical data to guide decisions. For more information, visit www.paradigmcorp.com.
About ForeSight Medical
ForeSight Medical delivers the most comprehensive suite of surgical management solutions in the workers’ compensation marketplace. A pioneer in the space, ForeSight combines unmatched industry experience, a dynamic implant management platform, Fusion™, and best in class provider relationships to deliver meaningful healthcare solutions that decrease cost for their payer clients while improving clinical outcomes for patients.
In 2017, ForeSight introduced Encompass, the industry’s first fully managed solution for orthopedic, spine and surgical care to the workers’ compensation marketplace. Developed by a team of orthopedic, spine and surgical center experts, Encompass delivers significant cost savings while improving the quality of care and surgical outcomes for patients. For more information, visit www.foresightmedical.com and www.encompasssurgicalnetwork.com.