Processing Your Payment

Please do not leave this page until complete. This can take a few moments.

March 27, 2023

CVS expects to close on $8B acquisition of Signify Health this week

Photo | CVS A CVS HealthHub location.

CVS Health Corp. expects to close on its $8 billion acquisition of Signify Health “on or around March 29,” which is Wednesday, the Woonsocket, Rhode Island-based healthcare company announced Monday.

The proposed deal was announced in September. The closing is “subject to the satisfaction or waiver of the remaining customary closing conditions set forth in the merger agreement,” according to CVS.

Signify, which has a major corporate presence in Norwalk, is a home healthcare services company. It runs a network of doctors, nurses and physician assistants who provide in-home care. 

CVS operates a pharmacy chain with nearly 10,000 locations and offers health insurance along with pharmacy benefit management services. 

The acquisition will expand the presence of CVS in Connecticut. The company also owns health insurer Aetna, which is based in Hartford.

In October, CVS said in a regulatory filing that the Department of Justice had requested information from CVS and Signify as part of a review of the proposed transaction.

CVS entered into a definitive agreement to acquire Signify for or $30.50 per share in September. Once the acquisition is completed, Signify will continue to operate as a “payor-agnostic business” as part of CVS, the company said.
 

Sign up for Enews

0 Comments

Order a PDF