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CVS Health agrees to acquire Signify Health for $8 billion

by Babu Patil
CVS Health agrees to acquire Signify Health for $8 billion

CVS Health has agreed to buy in-home healthcare provider Signify Health for $8 billion. Signify provides healthcare services for patients through virtual and in-person visits.

 CVS has confirmed that it will buy Signify for $30.50 per share in cash. This acquisition will help it offer more healthcare services and grow its business.

 Signify Health is working to improve patient engagement, patient outcomes, and care coordination for everyone in the health care system. It has a network of more than 10,000 clinicians in all 50 states and a nationwide value-based provider network.

CVS Health President and CEO Karen S. Lynch said: “This acquisition will enhance our connection to consumers in the home and enables providers to better address patient needs as we execute our vision to redefine the health care experience. In addition, this combination will strengthen our ability to expand and develop new product offerings in a multi-payor approach.”

 With Signify, CVS could offer more in-home care services.

Signify CEO Kyle Armbrester told investors Tuesday that the company will visit 2.5 million patients this year.

 Signify will operate as a separate business within the larger company, serving over 50 health plans. The acquisition is expected to close in the first half of 2023. New Mountain Capital, which owns 60% of Signify’s stock, supported the deal, the companies said....

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