Blackstone Credit & Insurance has led a $1.3bn financing to support the combination of Paratek Pharmaceuticals and Radius Health. The transaction creates a scaled specialty pharmaceutical platform backed by B-FLEXION Life Sciences, bringing together complementary assets and expanding therapeutic capabilities in the healthcare sector.

Paratek is expected to generate nearly $1bn in annual revenue by 2026, reflecting the scale of the combined platform. Jonathan Brayman, Managing Director at Blackstone, emphasized the ability to provide large-scale capital solutions to life sciences companies, while Peter Agnes of B-FLEXION called it "transformative" for both organizations.

The deal illustrates how private equity-backed platforms leverage substantial financing to accelerate consolidation in specialized pharmaceutical markets. Blackstone's continued expansion in private credit and structured capital solutions demonstrates the growing role of alternative financing in healthcare M&A and growth strategies.