CVS HealthThe Wall Street Journal is reporting that CVS is seeking to make a major strategic acquisition.
“CVS Health is seeking to buy Signify Health Inc., according to people familiar with the matter, as the drugstore and insurance giant looks to expand in home-health services,” reports the Wall Street Journal.
Signify Health is exploring strategic alternatives, including a sale, The Wall Street Journal reported this past week. The company positions itself as "Signify Health exists for a simple purpose: To enable more happy, healthy days at home."
“Initial bids are due this coming week and CVS is planning to enter one, some of the people said. Others also are in the mix, they said, and CVS could face competition from other managed-care providers and private-equity firms,” according to the WSJ.
There is no guarantee any of them will reach a deal for Signify, which has a market value of around $4.7 billion Shares of the company moved upward after reports of a sale.
"For Woonsocket, R.I.-based CVS, which has a market value of $134 billion, a deal would help fulfill its stated ambition to become an even bigger provider of medical services. The company has indicated it hopes to have a deal in place to help it do so by year-end. Wall Street has largely focused on CVS’s efforts to add primary-care practices and doctors to its payroll, though executives have also discussed their ambitions to expand its in-home health presence," reports the Wall Street Journal.
Enjoy this post? Share it with others.
Translation service unavailable. Please try again later.
