HomeHealthCVS to close $8B Signify Health acquisition this week

CVS to close $8B Signify Health acquisition this week

by admin

CVS Health expects to close its $8 billion purchase of home health provider Signify Health on or around Wednesday, the companies announced Monday.

The completion of the deal depends on whether the parties can meet or waive remaining conditions from the merger agreement. The Justice Department requested additional information about the acquisition in October.

The Justice Department did not immediately respond to interview requests. CVS Health and Signify Health referred Modern Healthcare to a news release issued Monday and declined to answer questions.

CVS Health plans to operate Signify Health as a “payer-agnostic” business that will work with any health insurance company. CVS Health owns Aetna, while rival carriers Humana and UnitedHealth Group are Dallas-based Signify Health’s largest customers.

CVS Health, Amazon, UnitedHealth Group and Option Care Health were at one point all interested in Signify Health, the largest health risk-assessment provider. CVS announced its plan to acquire Signify Health in September.

The company also announced it would expand its healthcare services division with a $10.6 billion purchase of Chicago-based primary care operator Oak Street Health in February. Sen. Elizabeth Warren (D-Mass.) this month urged the Federal Trade Commission to review the Oak Street Health deal and other insurance company acquisitions of clinical practices, particularly those that serve Medicare beneficiaries.

Source : Modern Healthcare

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