Recent trends show major retailers expanding into healthcare. Companies like Amazon now offer prescription delivery services. Established pharmacies like Walgreens are focusing on delivering healthcare to homes to avoid in-person visits. To stay competitive, CVS Health aims to acquire a pre-established network.
In a recent announcement, CVS revealed its plan to acquire Signify Health, a home healthcare company. CVS will pay $30.50 per share of Signify, totaling around $8 billion. Signify’s stock value has been rising, especially following rumors of Amazon’s interest in acquiring the company.
Karen Lynch, CVS Health’s President and CEO, stated, “This acquisition will strengthen our connection with consumers at home and help providers better meet patient needs as we work towards redefining the healthcare experience.”
Assuming the deal is finalized, Signify will join CVS’s portfolio of healthcare companies, including Aetna (health insurance provider), Caremark (pharmacy benefits manager), and MinuteClinic (vaccination and urgent care service).
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