The 59-year-old was sentenced to 15 years in prison at Nottingham Crown Court on Wednesday after he was convicted of 17 counts of wounding with intent and three counts of unlawful wounding against 10 patients.
Jurors at Nottingham Crown Court heard last month Paterson had exaggerated or invented the risk of cancer.
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"What Mr Paterson did in our hospitals, in other private hospitals and in the NHS absolutely should not have happened and the sentence handed down today reflects the gravity of the crimes he committed", it said.
But the majority of his private patients have yet to receive any compensation for his actions from Spire.
The court was told the defendant, of Altrincham, Greater Manchester, urged patients to undergo procedures for "obscure motives" that may have included a desire to "earn extra money".
Ahead of Paterson's court appearance, president of the Royal College of Surgeons Clare Marx said no sentence can "ever fully reflect the pain and suffering" experienced by his victims.
She added that since she learnt her operations and procedures were unnecessary, her "world has been turned upside down".
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Thompsons Solicitors, which represents almost 500 of Paterson's former patients, said the NHS accepted liability for Ian Paterson's acts, while Spire has not.
"Ian Paterson repeatedly abused that trust by carrying out unnecessary major medical surgery over more than a decade".
Paterson also practised at a series of hospitals run by private healthcare provider Spire in the West Midlands area where Birmingham is located.
The Guardian reported that the NHS has so far paid out around £18 million, including £9.5 million in damages relating to Paterson's cases.
The surgeon, described by police and his victims as having a "God complex", performed numerous operations at private hospitals, using the money he made to fund his lucrative lifestyle.
Entering the courtroom with a large black suitcase, Paterson showed little emotion, often keeping his eyes down.
Occasionally he could be seen shaking his head.
He was suspended by the General Medical Council that same year amid claims he carried out so-called cleavage-sparing mastectomies (CSMs).