CVS Health plans to complete its $8 billion acquisition of Signify Health this week, closing out a definitive agreement reached in September 2022, the companies announced March 27.
The companies said the deal will close "on or around March 29," after which Signify Health will "continue to operate as a payor-agnostic business as part of CVS Health." The payer-agnostic detail is relevant given that CVS Health acquired health insurer Aetna for $69 billion in 2018.
Signify Health uses analytics and technology to support in-home care, evaluations and service coordination for employers, physician groups, health systems and health plans, including dozens of Medicare Advantage plans. Last fall, the Dallas-based company was in the center of a bidding war, with UnitedHealth Group, Amazon and Option Care Health making bids in addition to CVS Health.
In September 2022, CVS Health announced it would acquire Signify Health for $30.50 per share in cash for a transaction valued at approximately $8 billion. The deal is one puzzle piece of CVS Health's aim to own the "entire spectrum of someone's health journey," as CEO Karen Lynch said last fall. In February, CVS entered a definitive agreement to acquire Oak Street Health for $10.5 billion.