CVS closed $8B deal for health services company Signify Health

CVS Health has closed its major acquisition of health services company Signify Health at a deal valued at $8 billion

The acquisition, first announced back in September, will help advance the health giant’s push into value-based care. It is the latest bid by CVS to get further into healthcare services. 

CVS noted that Signify Health will still be a payer-agnostic business but be part of CVS. The company beat out several other competitors such as Amazon.

The acquisition is among several made by CVS Health to extend into healthcare services. When the deal was announced in September, executives touted Signify Health’s home health business. 

CVS has shown no signs of slowing down in its acquisition spree. Last month, the company released plans to acquire primary care provider Oak Street Health for $39 per share in cash, or approximately $10.6 billion.

One of the enticing reasons for the deal was Oak Street’s experience in value-based care.

“Combining Oak Street Health’s platform with CVS Health’s unmatched reach will create the premier value-based primary care solution,” CVS Health President and CEO Karen Lynch said in a statement in February when the acquisition was announced. 

Oak Street specializes in treating patients on Medicare Advantage through a network of more than 300 clinics. 

CVS Health, parent company of Aetna and pharmacy benefit manager CVS Caremark, has made several deals to improve its vertical integration in healthcare.