Drugstore and insurance company CVS Health is looking to place a bid for home health company Signify Health, which is valued at $4.7 billion, according to Aug. 7 reporting in the Wall Street Journal.
The planned bid comes after CVS executives have discussed breaking into the home health market, the Journal said. CVS had considered a deal for the parent of One Medical before Amazon agreed to buy the healthcare company July 21.
Signify Health specializes in providing analytics to home health providers. They went public in February 2021.
Signify is exploring strategic alternatives, the Journal reported Aug. 2, including a sale. CVS is expected to face competition from private equity firms and care providers in the bid for acquisition.