September 27, 2022

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CVS takes the lead in talks to acquire Signify Health: Report

CVS takes the lead in talks to acquire Signify Health: Report

CVS Health Corp. is reported to have taken the lead in the battle between the heavyweights of home health care company Signify Health Inc.

CVS is said to be in a file The talks are progressing with a bid of about $8 billion, according to Bloomberg.

Signify is a provider of technology and services for home health.

Companies can Announce a deal next week at more than $30 a share.

UnitedHEALTH, AMAZON, CVS HEALTH, OPTION CARE BIDDING ON HEALTH HEALTH

CVS has reportedly offered to buy Signify as the retailer continues its efforts to expand in-home health services. (Alex Tay/SOPA Images/LightRocket via Getty Images/Getty Images)

Amazon.com and UnitedHealth Group are also interested in striking a deal.

There is still no guarantee that CVS will reach a deal for Signify, which has been exploring strategic alternatives since earlier this summer.

Signify and CVS representatives declined to comment.

UnitedHealth Group

UnitedHealth Group, Amazon, CVS Health and Option Care Health have expressed interest in bidding for Signify Health. (Igor Golovniov/SOPA Images/LightRocket via Getty Images/Getty Images)

Amazon announced in July that it would acquire the United States Primary health care Provider One Medical for $18 per share, in an all-cash deal valued at approximately $3.9 billion.

CVS plans to transition to primary care by the end of 2022

This transaction is under investigation as the Federal Trade Commission requested more information about the acquisition.

ribbon protection else they change they change %
CVS CVS HEALTH CORP. 99.47 -0.43 -0.43%
SGFY Important health company 28.77 +0.38 + 1.34%
United nations UnitedHealth Group of Companies 516.35 -7.65 -1.46%
AMZN AMAZON.COM INC. 127.51 -0.31 -0.24%

The Wall Street Journal previously reported that CVS was in advanced talks to buy Signify.

CVS Store Website

CVS Pharmacy is located in Bloomsburg, Pennsylvania. (Paul Weaver/SOPA Images/LightRocket via Getty Images/Getty Images)

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Signify rose 1.3% to close at $28.77 in New York trading on Friday, giving it a market value of about $6.7 billion.

Landon Mion of FOX Business contributed to this report.

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