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October 20, 2022

U.S. DOJ seeks details on CVS Health's proposed acquisition of Signify

Photo | CVS A CVS HealthHub location.
By Andrew Larson

CVS Health Corp.’s proposed $8 billion acquisition of  Signify Health has piqued the interest of the U.S. Department of Justice.

In a filing Thursday, CVS said the DOJ had requested information from CVS and Signify as part of a review of the proposed transaction. Both companies have a significant presence in Connecticut.

According to Reuters, the DOJ’s request is a sign of a possible investigation rather than a quick approval.

The deal, announced in September, faces a “tough antitrust review,” according to the news agency.

Dallas-based Signify is a home health care services company that has its principal executive office in Norwalk.

Aetna, based in Hartford, is owned by CVS.

Signify Health runs a network of doctors, nurses and physician assistants who provide in-home care. CVS operates a pharmacy chain with nearly 10,000 and offers health insurance along with pharmacy benefit management services.

The two companies do not compete in any market, according to Reuters.

CVS expects the deal to close in the first half of 2023, according to the filing.

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