GENE ONLINE|News &
Opinion
Blog

2022-09-06| M&A

CVS Beats Amazon in Signify Bidding War with $8 Billion Acquisition Offer

by Reed Slater
Share To
After Amazon and UnitedHealth Group showed interest in acquiring in-home healthcare platform, Signify Health, CVS went home the winner after promising $30.50 per share in cash, bringing the total acquisition price to $8 billion. The purchase is a significant stepping stone in CVS’s attempt to grow its reach in the retail healthcare space among stiff competition. 
Leveraging Signify’s Platform to Grow CVS’s Retail Healthcare Presence

Signify specializes in home-based healthcare, reaching an estimated 2.5 million unique customers annually with in-person and online services. On top of keeping patients more comfortable in their own homes, the company claims that healthcare providers spend, on average, 2.5 times longer with a patient compared to traditional facility care. 

CVS hopes to embed Signify’s extensive and established network into its own growing retail healthcare operation. The company currently has over 9,000 retail healthcare locations across the US and Puerto Rico and over 1,000 MinuteClinic locations, which cater to patients who want quick care for common illnesses. 

CVS Health President and CEO, Karen S. Lynch, 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 expand and develop new product offerings in a multi-payor approach."

It's free! Log in now to read

LATEST
GeneOnline’s Weekly News Highlights: Nov 20-Nov 24
2023-11-27
SK Bioscience and Hilleman Laboratories Join Forces for Ebola Vaccine Development
2023-11-23
BeiGene to Expand Oncology Pipeline Through ENSEM Therapeutics Partnership
2023-11-23
Advancing the Frontiers of Cell and Gene Therapy – An Interview with Dr. Shin Kawamata
2023-11-21
Astellas and Pfizer’s Drug Receives FDA Approval as Treatment for High-Risk Prostate Cancer Recurrence
2023-11-21
GeneOnline’s Weekly News Highlights: Nov 13-Nov 17
2023-11-20
Singapore’s NUS Medicine Launches Centre for Sustainable Medicine
2023-11-20
EVENT
2023-11-30
2023 Healthcare+ EXPO・Taiwan
Taipei , Taiwan
Scroll to Top