CVS Health Corp (CVS) announced that it would be closing its acquisition of Signify Health. The Monday announcement of the acquisition of the home health care services company said that the deal would be closed on or around March 29, 2023, according to its press release. The acquisition is expected to increase CVS Health’s penetration in rural and isolated areas.
In September 2022, CVS Health and Signify Health entered into an agreement whose terms included acquiring the health care services company for $30.50 per share in cash. The total value of the transaction was placed at roughly $8 billion.
CVS might perform PCR testing for COVID-19 at home as Signify has a process in place to conduct such tests in the comfort of a person’s home.
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Signify Health will help CVS reach underserved communities that have traditionally faced lack of or minimal health services due to isolation and long distances from metropolitan areas where most of the stores of CVS are located.
CVS Health is a leading company in the nation that provides health care services across America. It has thousands of stores and helps people navigate the health care system with over 40,000 staff which includes physicians, pharmacists, nurses and nurse practitioners. These staff offer management of chronic disease care as well as affordable health and wellness services.
Signify Health uses advanced analytics, technology and networks across the nation to provide programs that help people become healthier. They offer clinical, social and behavioral services to individuals in the comfort of their homes that make these services affordable.
The joining together of CVS Health and Signify Health would bring many health services together. It is expected to offer customers more affordable services as well as a wider range of health care as both the companies offer synergy to each other’s traditional customer base and services.
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