The competition for Signify Health is heating up with Amazon as the latest bidder.
CVS Health was rumored to be planning a bid for the home health and technology company in early August after reportedly losing out on acquiring One Medical, a digital and in-person primary care platform, to Amazon. Amazon reached an agreement to buy One Medical for $3.9 billion in a cash transaction announced July 20.
Amazon has now placed a bid for Signify Health as well, according to a report in The Wall Street Journal. UnitedHealth Group is also among the companies interested in Signify, which has been taking bids and considering alternative strategies for the future as well. UnitedHealth had the highest bid at more than $30 a share, according to Bloomberg, with Amazon as the second highest bidder.
Signify's valuation has climbed from $4.7 billion to $5 billion since the Journal reported CVS Health's desire for the company in early August. The Journal's source estimated Signify's market value could reach more than $8 billion before it's sold.
Bids for Signify are due Sept. 6, according to Bloomberg, but a deal could be announced sooner.