CVS takes lead in talks to acquire Signify Health: report
Shares of Signify Health rose to $28.77 in the Friday session, valuing the health company at about $6.7 billion.
CVS Health Corp. has reportedly taken the lead in the battle among heavyweights for the home-healthcare company Signify Health Inc.
CVS is said to be in advanced talks with a bid of around $8 billion, according to Bloomberg.
Signify is a provider of technology and services for home health.
The companies could announce a deal next week with a value of more than $30 a share.
UNITEDHEALTH, AMAZON, CVS HEALTH, OPTION CARE BIDDING ON SIGNIFY HEALTH
CVS was reportedly offering to purchase Signify as the retail company pursues efforts to expand in-home health services. (Alex Tai/SOPA Images/LightRocket via Getty Images / Getty Images)
Amazon.com and UnitedHealth Group have also been interested in making 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.
Representatives for Signify and CVS declined to comment.
UnitedHealth Group, Amazon, CVS Health and Option Care Health have been interested in bidding for Signify Health. (Igor Golovniov/SOPA Images/LightRocket via Getty Images / Getty Images)
Amazon announced in July that it will acquire U.S. primary health care provider One Medical for $18 per share, in an all-cash deal valued at about $3.9 billion.
CVS PLANS TO MAKE A MOVE INTO PRIMARY CARE BY END OF 2022
That deal is under investigation as the Federal Trade Commission has asked for more information on the acquisition.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CVS | CVS HEALTH CORP. | 67.03 | -0.73 | -1.08% |
| SGFY | n.a. | n.a. | n.a. | n.a. |
| UNH | UNITEDHEALTH GROUP INC. | 494.00 | +6.56 | +1.35% |
| AMZN | AMAZON.COM INC. | 171.36 | -5.23 | -2.96% |
The Wall Street Journal reported earlier that CVS was in advanced talks to buy Signify.
A CVS pharmacy is seen 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 Friday, giving it a market value of about $6.7 billion.
FOX Business' Landon Mion contributed to this report.