CVS is reportedly looking to purchase healthcare platform Signify Health, which would allow the drugstore chain to expand into home health services, The Wall Street Journal reported Sunday.
Signify has been exploring “strategic alternatives,” which could include a sale, according to the report, which cited anonymous sources.
The initial bids are coming due soon, and sources told the Journal CVS would submit one. Signify has a market cap of around $4.66 billion based on its stock closing price on Friday, according to Refinitiv calculations.
CVS had vowed to acquire a medical services company before the end of 2022.
The WSJ reportedly last week that Signify was mulling a sale.
Signify’s services use analytics and technology to assist health plans, employers, physician groups and health systems with in-home care. The company also offers in-home health evaluations. Read more.
