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.
