CVS Health has been making moves to maintain its ambitions of becoming a healthcare destination, most notably the retail pharmacy company made headlines for acquiring home health company Signify Health for $8 billion.
Here are five recent health tech moves CVS has made since May 26.
- CVS Health entered into a definitive agreement to buy home health company Signify Health for about $8 billion. CVS Health agreed to pay $30.50 per share in a cash transaction expected to close in the first half of 2023. The deal will bring Signify's nationwide value-based provider network with more than 10,000 clinicians into CVS Health's portfolio. Signify's network of 50 health plan clients and members will also join CVS Health.
- Before Amazon entered an agreement to buy One Medical for $3.9 billion in July, CVS Health approached the primary care company with interest to align. A recent One Medical SEC proxy statement states that "Party A" approached the company in mid-October 2021 seeking a partnership or strategic transaction. People familiar with the situation said Party A was CVS Health.
- Amwell announced that it had been chosen by CVS Health to help the company roll out its new virtual primary care service. The primary care service, first announced in May, will give eligible Aetna and CVS Caremark members access to primary care, on-demand care, chronic condition management and mental health services.
- On July 8, CVS appointed Tilak Mandadi as chief data, digital and technology officer. Mr. Mandadi will oversee the company's CIO and other tech leaders.
- On May 26, CVS launched CVS Health Virtual Primary Care. The service offers clinical services, expertise and data in one coordinated platform.