CVS Health Corp. reached a deal to buy home-health and technology services provider Signify Health Inc. for about $8 billion, as the drugstore chain continues to expand beyond its retail origins.
CVS is acquiring Signify for $30.50 a share in an all-cash deal, according to a statement Monday. The company emerged as the winning bidder over potential suitors that, Bloomberg News previously reported, had included UnitedHealth Group Inc., Amazon.com Inc. and Option Care Health Inc.
Through its software and services, Signify aims to help clients — payers like health plans, government programs and employers — shift to value-based payment plans. It’s backed by New Mountain Capital, which formed the company in 2017, according to the private equity firm’s website.
Read more: BNN Bloomberg
