March 31, 2023 – CVS Health announced that it has completed its acquisition of Signify Health, a technology and services company focused on provider enablement and bringing clinicians into the home to identify chronic conditions, close gaps in care, and address social determinants of health.
Signify has a network of more than 10,000 clinicians in all 50 states, who spend an average of 2.5 times longer with a member during home visits than an average visit with a primary care provider.
The combined company will work to improve care delivery capabilities, lower costs, improve levels of engagement and enable broad access to high-quality care, especially for Medicare Advantage customers. The company says that Signify clinicians can have an even greater impact by engaging with CVS Health’s unique collection of assets and connecting consumers to care how and when they need it.
Under the terms of the transaction, each outstanding share of Signify Health common stock is being exchanged for $30.50 in cash, representing a total transaction value of approximately $8 billion. CVS Health funded the transaction price with existing cash and available resources and is committed to maintaining its current credit ratings.