By Paige Minemyer
Source: Fierce Healthcare

CVS Health has won the bidding war for home health and technology services company Signify Health.

The healthcare giant announced Monday that it will acquire Signify in a deal valued at $8 billion, or $30.50 per share, in cash. The deal is subject to approval from Signify Health’s shareholders, and the companies expect that it will close in the first half of 2023.

“Signify Health will play a critical role in advancing our healthcare services strategy and gives us a platform to accelerate our growth in value-based care,” said CVS Health CEO Karen Lynch in a press release. “This acquisition will enhance our connection to consumers in the home and enables providers to better address patient needs as we execute our vision to redefine the healthcare experience. In addition, this combination will strengthen our ability to expand and develop new product offerings in a multi-payer approach.”

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