Paradigm, a specialty care management organization known for supporting individuals with complex injuries and serious medical conditions, has agreed to be acquired by Patient Square Capital, a healthcare focused investment firm. The agreement signals a new chapter for Paradigm as it looks to expand its reach and strengthen its services across workers compensation and broader payer markets. The move also brings to a close the company’s partnership with OMERS Private Equity, which has supported Paradigm’s growth and strategic direction in recent years.
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Patient Square Capital has maintained a long relationship with Paradigm’s leadership team and has closely followed the company’s performance and long term vision. The planned acquisition reflects confidence in Paradigm’s ability to manage high acuity cases, deliver consistent outcomes, and generate cost efficiencies for payers and clients. Over time, Paradigm has expanded its capabilities in payment integrity, home health services, and network solutions, building a reputation for measurable clinical and financial results.
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John S. Watts, Jr., CEO of Paradigm, said that Patient Square’s focus on improving care for people facing serious health challenges aligns closely with Paradigm’s mission. He noted that the partnership is expected to help the company strengthen its established workers compensation model while broadening its influence across the healthcare system. Watts also expressed appreciation for OMERS Private Equity, acknowledging that its backing and investment in the team and infrastructure played a meaningful role in positioning Paradigm as a leader in complex care management.
David Katz, Partner at Patient Square, shared that Paradigm has developed a strong platform with a track record of dependable results in complex care. He added that Patient Square looks forward to working with the experienced management team as the company continues to grow and deepen its impact for both patients and payers.
The transaction is anticipated to close in the first half of 2026, subject to customary approvals and closing conditions. Leerink Partners acted as lead financial advisor to Paradigm, with Truist Securities, Inc. also advising the company. Weil, Gotshal and Manges LLP served as legal advisor to Paradigm. Greenberg Traurig represented Patient Square as legal counsel, while UBS Investment Bank and Santander advised Patient Square on the financial aspects of the deal.
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