We present a bond-operator theory (BOT) suitable for description both magnetically ordered phases and paramagnetic phases with singlet ground states in spin-1 2 magnets. This technique allows to trace evolution of quasiparticles across the transition between the phases. Some elementary excitations described in the theory by separate bosons appear in conventional approaches as bound states of well-known quasiparticles (magnons or triplons). The proposed BOT provides a regular expansion of physical quantities in powers of 1/n, where n is the maximum number of bosons which can occupy a unit cell (physical results correspond to n = 1). Two variants of BOT are suggested: for two and for four spins in the unit cell (two-spin and four-spin BOTs, respectively). We consider spin-1 2 Heisenberg antiferromagnet (HAF) on simple square lattice bilayer by the two-spin BOT. The ground-state energy E, the staggered magnetization M , and quasiparticles spectra found within the first order in 1/n are in good quantitative agreement with previous results both in paramagnetic and in ordered phases not very close to the quantum critical point between the phases. By doubling the unit cell in two directions, we discuss spin-1 2 HAF on square lattice using the suggested four-spin BOT. We identify the magnon and the amplitude (Higgs) modes among fifteen spin-2, spin-1, and spin-0 quasiparticles arisen in the theory. Magnon spectrum, E, and M found in the first order in 1/n are in good quantitative agreement with previous numerical and experimental results. We observe a special moderately damped spin-0 quasiparticle ("singlon" for short) whose energy is smaller than the energy of the Higgs mode in the most part of the Brillouin zone. By considering HAF with Ising-type anisotropy, we find that both Higgs and "singlon" modes stem from two-magnon bound states which merge with two-magnon continuum not far from the isotropic limit. We demonstrate that "singlons" appear explicitly in "scalar" correlators one of which describes the Raman intensity in B1g symmetry. The latter is expressed in the leading order in 1/n via the "singlon" Green's function at zero momentum which shows an asymmetric peak. The position of this peak given by the "singlon" energy coincides with the position of the so-called "two-magnon" peak observed experimentally in, e.g., layered cuprates. order parameter phase). 8 It is not convenient to take it into account within 1/S-expansion because the amplitude mode arises in this technique as a pole of a two-magnon vertex. 6,7 To obtain this pole one has to take into account infinite number of diagrams. The amplitude mode has attracted much attention recently as it bears close correspondence with Higgs modes in particle physics. 8 Deep in the ordered phase, the amplitude mode is a high-energy excitation with finite lifetime caused by decay into two Goldstone quasiparticles. Due to its damping, it is undetectable deep in the ordered phase in measurements of order-parameter correlators 9-11 (the longitudinal spin susceptibility in ...