In a hotly contested bid to acquire the Signify Health platform for value-based healthcare solutions, CVS triumphed and finalized an $8 billion deal, defeating Amazon and UnitedHealthcare as huge businesses continue to enter the medical services industry.
Signify Health will be acquired by CVS Health for $30.50 in cash per share, according to the official agreement. Signify Health uses analytics and technology to provide in-home care to healthcare institutions, companies, physician groups, and health insurance.
“This purchase will enhance our engagement with consumers in the home and allow professionals to better satisfy patient requirements as we carry out our aim to redefine the health care experience.
Signify Health focuses on value-based care and provider enablement and has a network of over 10,000 medical professionals spread throughout all 50 states. The firm, which has its corporate office in Dallas, Texas, and was established in 2017 by its president and chief financial officer, Steve Senneff, aims to enhance care coordination, patient outcomes, and patient engagement for all parties involved in the healthcare system.
The staff at Signify Health will access a more extensive selection of tools and solutions that link patients to treatment now that they are a part of CVS Health. Home-based visits are used by Signify Health’s network of professionals, including doctors, nurse practitioners, and physician assistants, to determine a patient’s clinical and social requirements. Following that, patients are given access to the proper follow-up treatment and community-based services.
“Signify Health’s mission is to establish trustworthy relationships to enhance people’s health by using actionable data to understand what’s genuinely influencing outcomes and cost today,” says Kyle Armbrester, CEO of Signify Health.
Given its focus on improving access to healthcare services and directing patients to the most suitable treatment venues, we came to the conclusion that CVS Health is the best partner as we carefully reviewed our long-term strategic alternatives, according to Armbrester.
When the purchase is done, Armbrester will remain the CEO in control of Signify Health. The more than 50 health plans that Signify Health supports and the people who are enrolled in those plans will improve CVS Health’s payor-neutral solutions for a variety of health plans and employer clients.