CVS Health announced on Monday, September 5, that it entered into a definitive agreement with Signify Health, under which CVS will acquire Signify Health for approximately $8 billion (at $30.50 per share). The news comes on the heels of Amazon’s announcement on July 21 that it plans to acquire virtual and in-person primary care company One Medical on an all-cash deal valued at $3.9 billion (at $18 per share).
For CVS, Signify Health, which specializes in Health Risk Assessments, value-based care, and provider enablement, would bring “a network of more than 10,000 clinicians across all 50 states and a nationwide value-based provider network, combined with its proprietary analytics and technology platforms,” according to the September 5 announcement.
For Amazon, the One Medical acquisition would bring “more than 180 clinics with employed physicians across two dozen US markets” in order to “offer more convenient and affordable healthcare in-person and virtually,” Becker’s Health IT September 6 reports. The article notes, however, that Amazon's bid to acquire 1Life Healthcare, which operates One Medical's primary care clinics, is under investigation from the Federal Trade Commission, which could delay the transaction.
The Amazon proposal came shortly before the online retailer announced it is shutting down Amazon Care by the end of the year.Read More >>