fmt -t -c -w 80000

$ file /usr/bin/fmt | fmt -w 40
/usr/bin/a2ps: ELF 32-bit LSB
executable, Intel 80386, version 1,
dynamically linked (uses shared libs),
stripped

*Tags*: word wrap, :wordwrap, :formatter

fmt - simple optimal text formatter, Reformat each paragraph in the FILE(s)

-c, --crown-margin        preserve indentation of first two lines
-p, --prefix=STRING       combine only lines having STRING as prefix
-s, --split-only          split long lines, but do not refill
-t, --tagged-paragraph    indentation of first line different from second
-u, --uniform-spacing     one space between words, two after sentences
-w, --width=WIDTH         maximum line width (default of 75 columns)

From

      Data standards make sure that the terms people use mean the same thing. The
International Classification of Diseases (ICD) is such an example. Canada is in the
process of upgrading ICD from the old version of ICD-9 to the new version of ICD-10
nationwide (ICD-10, 2005; Healthcare Financial Management Association, 2004). The US
however, falls behind the whole world in adopting the new ICD-10 standard. They are
still using ICD-9. Even their latest research papers focus on the old ICD-9 (Glance,
Laurent, Dick, Andrew, Osler, Turner, & Mukamel, Dana, 2006; Bazarian, Jeffrey, Veazie,
Peter, Mookerjee, Sohug, & Lerner,, 2006; Williams, Charles, Hauser, Kimberlea, Correia,
Jane, & Frias, Jaime, 2005).

to

      Data standards make sure that the terms people use mean the same thing. The International Classification of Diseases (ICD) is such an example. Canada is in the process of upgrading ICD from the old version of ICD-9 to the new version of ICD-10 nationwide (ICD-10, 2005; Healthcare Financial Management Association, 2004). The US however, falls behind the
whole world in adopting the new ICD-10 standard. They are still using ICD-9. Even their
latest research papers focus on the old ICD-9 (Glance, Laurent, Dick, Andrew, Osler, Turner, & Mukamel, Dana, 2006; Bazarian, Jeffrey, Veazie, Peter, Mookerjee, Sohug, & Lerner,, 2006; Williams, Charles, Hauser,
Kimberlea, Correia, Jane, & Frias, Jaime, 2005).

From

      In US, although Open Source health care software have been actively developed, for
example OpenEMR (2006), they have not received the adequate attention yet. This is
because of the private and proprietary nature of the US Health industry.
      However, not all institutes or organizations in Canada have fully understood the
damage that private and proprietary bring to the pan-Canadian interoperable EHR
system, even after Infoway has taken the Open Source initiative. For example, Ontario's
ePhysician Project is a pay-per-month web portal software, contracted to GE Healthcare
for 15 years (Hamilton, 2005). The solution is both proprietary and exclusive. The Ontario
government managed to fund $128 million, but that only covers about "10 per cent of
what it would cost" for it to be fully accessible for all physicians (Hamilton, 2005, p. 1).

to

      In US, although Open Source health care software have been actively developed, for example OpenEMR (2006), they have not received the adequate attention yet. This is because of the private and proprietary nature of
the US Health industry.
      However, not all institutes or organizations in Canada have fully understood the damage that private and proprietary bring to the pan-Canadian interoperable EHR system, even after Infoway has taken the Open Source initiative. For example, Ontario's ePhysician Project is a pay-per-month web portal software, contracted to GE Healthcare for 15 years (Hamilton,
2005). The solution is both proprietary and exclusive. The Ontario government managed to fund $128 million, but that only covers about "10 per cent of what it would cost" for it to be fully accessible for all physicians
(Hamilton, 2005, p. 1).

as shown the -t switch (indentation of first line different from second) works great. had it not with the weird parargraph break problem, it could be a very good paragraph reformatter.