Amazon, UnitedHealth and CVS bidding for Signify Health
Amazon.com Inc (NASDAQ: AMZN), UnitedHealth Group Inc (NYSE: UNH) and CVS Health Corp (NYSE: CVS) are bidding separately to acquire the home health services provider Signify Health Inc (NYSE: SGFY), Bloomberg reported on Sunday, citing people familiar of the matter
Amazon.com Inc (NASDAQ: AMZN), UnitedHealth Group Inc (NYSE: UNH) and CVS Health Corp (NYSE: CVS) are bidding separately to acquire the home health services provider Signify Health Inc (NYSE: SGFY), Bloomberg reported on Sunday, citing people familiar of the matter.
Amazon’s interest is the latest sign of the e-commerce giant’s ambitions in the healthcare industry comes a month after it agreed to buy telehealth service provider One Medical (NASDAQ: ONEM), which also operates brick-and-mortar doctor’s offices, for $3.49 billion.
UnitedHealth has submitted the highest bid for Signify, in excess of $30 a share, while Amazon’s offer is close behind, Bloomberg reported.
Texas-based Signify’s shares jumped nearly 41% to $29.88 on Monday, valuing the company as much as $7 billion.
The report said Signify would hold a board meeting on Monday to discuss the offers and final bids by September 6.
Option Care Health Inc (NASDAQ: OPCH), which provides home health services, is also among the bidders, Bloomberg reported.
Signify conducts at-home health evaluations, and its customers include health insurers, government and private employers, hospital operators and physician groups.
Earlier this month, the Wall Street Journal reported that CVS was seeking to buy Signify as it looked to expand in-home health services, and on Sunday, the news outlet said the auction could value the company well over $8 billion.
Picture Credit: WSJ
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