CVS Health is acquiring Signify Health in a US$8bn deal that may improve the future of senior living.
CVS Health will acquire the in-home health care company for a price valued at about $30.50 per share.
Karen S. Lynch, CEO of CVS Health, said: “This acquisition will enhance our connection to consumers in the home and enables providers to better address patient needs as we execute our vision to redefine the health care experience.
“In addition, this combination will strengthen our ability to expands and develop new product offerings in a multi-payor approach.”
Signify Health CEO Kyle Armbrester added that the companies are building an “integrated experience that supports a more proactive, preventive and holistic approach to patient care.”
Signify Health is centred on health risk assessments, value-based care and provider enablement that encompasses 10,000 clinicians nationwide as part of a broad value-based provider network.
Matt Holt, Signify board chairman, said: “Together with CVS Health, Signify is uniquely positioned to continue to lead the transformation to value-based care.
“We look forward to the significant impact this transaction will make on health care for years to come.”
CVS Health provides pharmacy, health and wellness, virtual care services and prescription drug coverage.
